Assignment 2. Business & Marketing Research Paper (Research Paper Sample)
Explain Step 5 of constructing a market-attractiveness/competitive-position matrix for evaluating potential target markets. When should a manager consider a market segment to be desirable? Construct a matrix, and provide an example illustrating these concepts.
The five steps of constructing a competitive-position or market-attractiveness matrix are mentioned below:
1 Selecting a criterion to measure competitive position and attractiveness (Valdani & Arbore, 2013).
2 Weighing factors of competitive position and attractiveness to have an idea of their potential outcomes and significance (Valdani & Arbore, 2013).
3 Assessing the current position of potential target markets based on these factors (Valdani & Arbore, 2013).
4 Projecting the future positions of all markets by the customer, competitive and environmental trends (Valdani & Arbore, 2013).
5 Evaluating implications of possible changes in the business strategies and resource materials (Valdani & Arbore, 2013).
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