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What are the various approaches for selecting target markets?
Once a firm understand its markets and the suitable bases for segmenting such markets, this should choose an approach for deciding its target markets.
There are various approaches for selecting target markets which are as given below: undifferentiated approach, concentration approach and multi segment approach.
Market segmentation Concept and definition: the concept of the market segment is based on the fact that the markets of the commodities are not homogenous but they are heterog
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