ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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direction the market is headed
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way a business draws its customers
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group of customers the entrepreneur will focus on serving
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sample of the market
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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 the specific group of people you want to reach with your marketing message. 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.
Detailed explanation-3: -What is a target market? A target market is the segment of consumers most likely to want or need a business’s products or services. This group of people is a subset of the business’s total market. It involves a specified series of customer qualities that the business believes its products or services will appeal to.