GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Target Market
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Group
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Customer Profile
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Market Group
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Detailed explanation-1: -A target market is a group of people that have been identified as the most likely potential customers for a product because of their shared characteristics such as age, income, and lifestyle.
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: -Market segmentation or customer groups are usually done on five levels: Demographic, psychographic, behavioral, geographic, and firmographic. Each level represents an opportunity for specific data collection that translates into targeted business efforts.
Detailed explanation-4: -A target market is a specific group of people with shared characteristics that a business markets its products or services to.