Final answer:
The statement provided is incorrect; there are five steps in the target market selection process, but the final step involves developing positioning strategies, not deciding on a targeting strategy.
Step-by-step explanation:
The statement is false. The five-step process used for target market selection typically includes the following steps: defining the market, conducting market segmentation, evaluating the attractiveness of each segment, selecting a target market, and developing positioning strategies. The confusion may arise from the inclusion of determining which segmentation variables to use and developing market segment profiles, which are components of the segmentation process; however, the final step should be developing positioning strategies, not deciding which targeting strategy to use, as that would have been determined in earlier steps.
Effective message targeting is essential in utilizing the information gathered from different research methods, including interviews, field research, and secondary research. These are critical in identifying the most salient issues for a potential customer or voter and forming a message that can be simplified for communication, such as through media 'sound bites'. Once market segments are identified and profiles are developed, the segments are evaluated, and a targeting strategy is selected that considers various factors, like the design concept selection process in engineering, which uses a structured decision process to evaluate advantages and disadvantages before making a final choice.