ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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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: -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.
Detailed explanation-2: -The Target Market. Your target market is a group of customers that has a similar need for a product or service, money to purchase the product or service, and willingness and ability to buy it.
Detailed explanation-3: -Identifying a target audience provides a clear focus of whom your business will serve and why those consumers need your goods or services. Determining this information also keeps a target audience at a manageable level.