You are in the process of starting your own business, a specialty cupcake store. From your study of marketing, you realize that many of your business decisions, such as where to open the store and how to advertise it, will depend on the segment of the population you want to attract as customers for your product. You start looking at data about the types of stores in different parts of the town and the demographics of the individuals in different neighborhoods. What are you doing in this process??
1. ?marketing to the environment
2. ?engaging in category management
3. ?selecting a target market
4. ?analyzing the wheel of retailing
5. ?creating a promotional strategy