ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -A target market is a group of potential customers that you identify to sell products or services to. Each group can be divided into smaller segments. Segments are typically grouped by age, location, income and lifestyle.
Detailed explanation-2: -They are the people who are most likely to buy your products or services, and they are united by some common characteristics, like demographics and behaviors. The more clearly you define your target market, the better you can understand how and where to reach your ideal potential customers.
Detailed explanation-3: -Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.