Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company plans to launch a new product to serve one of its two potential market segments. This company did their market research and found
A company plans to launch a new product to serve one of its two potential market segments. This company did their market research and found that:
Segment A has a potential profit of $100,000, and 20% of this segment will like their new product;
Segment B has a much smaller size which only has $20,000 profit, but 80% of segment B will love their new product. If you were the business owner, which segment will you choose as your target market for this new product?
a. Segment A
b. Segment B
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started