Final answer:
After identifying market segments, a firm identifies responsive groups, evaluates segment attractiveness, determines which segments to pursue, and follows the targeting process.
Step-by-step explanation:
After a firm has identified a group of market segments, it engages in several key activities. Firstly, it identifies which groups will respond similarly to its marketing efforts. This is essential for creating targeted strategies that resonate with each specific group. Secondly, the firm evaluates each segment's attractiveness, considering factors such as size, growth potential, and competition. This helps in determining the potential return on investment for the firm. Thirdly, the firm will determine which segments to pursue based on this evaluated attractiveness and which align the best with the company's resources and objectives. Lastly, the entire procedure outlined is known as the targeting process, which is a strategic approach towards selecting the most valuable segments for the firm's marketing initiatives.