ENTREPRENEURSHIP

Detailed explanation-1: -A target market is a specific group of people with shared characteristics that a business markets its products or services to. Companies use target markets to thoroughly understand their potential customers and craft marketing strategies that help them meet their business and marketing objectives.

Detailed explanation-2: -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-3: -The term target consumer is defined as the specific group of consumers who are the focus of a company’s advertisements. This focus is communicated through media and the use of television, movies, audio, and print capabilities.

Detailed explanation-4: -Answer and Explanation: 1. People or organizations with needs and wants and the willingness and ability to buy or sell represents the definition of a market. True.

Detailed explanation-5: -A specific group of potential customers toward which a venture aims its marketing plan.