BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company’s product or service. Identifying the target market is important in the development and implementation of a successful marketing plan for any new product.

Detailed explanation-2: -A target market is a specific group of people with shared characteristics that a business markets its products or services to. Companies use target markets to thoroughly understand their potential customers and craft marketing strategies that help them meet their business and marketing objectives.

Detailed explanation-3: -A target market is a group of customers within a business’s serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.

Detailed explanation-4: -A target market is the group of people most likely to purchase a specific product or service. It’s important for businesses to understand their target market, because members of this group are most likely to buy and recommend their products, improving the number of sales.

Detailed explanation-5: -Target market represents a group of individuals who have similar needs, perceptions and interests. They show inclination towards similar brands and respond equally to market fluctuations. Individuals who think on the same lines and have similar preferences form the target audience.