ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An effective target market must be composed of
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a large number of potential customers
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people who already prefer the businesses products and services
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individuals with common, important needs that are different from those outside the target market
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all of the above
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Explanation:
Detailed explanation-1: -What is a target market? 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: -The purpose of identifying a target market is simple: to have a clear understanding of the possible customers that might purchase a product or service in order to direct marketing efforts. Knowing their target market helps businesses craft marketing campaigns that reach and appeal to their customer base.
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