ENTREPRENEURSHIP

Detailed explanation-1: -Prospects: People who have not yet purchased your product but are considering it. Target market users: People in your target market who are not currently looking for a solution.

Detailed explanation-2: -Penetrated Market is a set of customers or clients who are already using a particular product or service. 2. Available market refers to a group of potential customers to whom a company wants to sell its products and services.

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.

Detailed explanation-4: -A target market is the group of people most likely to purchase a specific product or service. It’s important for businesses to understand their target market, because members of this group are most likely to buy and recommend their products, improving the number of sales.

Detailed explanation-5: -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.