GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Group of customers at which a product or service is aimed, or targeted.
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Splitting the market for a product into different parts, or segments.
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Either A or B
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None of the above
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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: -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-3: -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-4: -They are the people who are most likely to buy your products or services, and they are united by some common characteristics, like demographics and behaviors. The more clearly you define your target market, the better you can understand how and where to reach your ideal potential customers.
Detailed explanation-5: -Analyze Your Customer Base and Carry Out Client Interviews. Conduct Market Research and Identify Industry Trends. Analyze Competitors. Create Personas. Define Who Your Target Audience Isn’t. Continuously Revise. Use Google Analytics.