INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Marketing Plan
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Production Plan
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Organization/Management Plan
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Sustainability
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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: -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. To identify your target market and best serve your market, you need to: Know your customers. Understand what your customers need.
Detailed explanation-3: -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.