When an organization studies a market that is underserved by other and creates a product...
When an organization studies a market that is underserved by other and creates a product or services for the segment it is engaged in
- A) Market positioning
- B) Market integration
- C) Market orchestration
- D) Product differentiation
Correct Answer: A) Market positioning
Explanation
The question is asking about what happens when an organization studies a market that is not well served by other companies and then creates a product or service specifically for that market segment.The correct answer is Option A: Market positioning.
Market positioning is the process of identifying and targeting a specific market segment with a unique product or service. It involves understanding the needs and preferences of the target market and creating a product or service that meets those needs better than the competition. By doing this, the organization can position itself as the go-to provider for that particular market segment.
Market integration, on the other hand, refers to the process of combining different parts of a market or industry together. It typically involves mergers, acquisitions, or partnerships between companies in order to create a more unified and efficient market.
Market orchestration is a term that is not commonly used in commerce. It may refer to the coordination and management of various marketing activities and strategies within a market.
Product differentiation is the process of distinguishing a product or service from others in the market. It involves creating unique features or attributes that set the product apart and make it more appealing to consumers.
So, in this case, when the organization studies an underserved market and creates a product or service specifically for that market, it is engaging in market positioning. This allows the organization to cater to the unique needs of the underserved market and gain a competitive advantage.