GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a market available at target
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a group of people who all buy the exact same goods and services
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a group of producers who have similar interests and therefore join in a partnership business
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a group of customers with similar characteristics towards which a business has decided to aim its marketing efforts and its products
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Detailed explanation-1: -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-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: -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-4: -Demographic information, such as age range, marital status, and income level. Geographic information, such as specific cities or zip codes. Psychographic information, such as interests, values, and lifestyles. More items •22-Oct-2021