MANAGEMENT

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: -Target population, more commonly known as target audience, is the entire market of potential customers your business identifies. Your company’s target may be located in a specific geographic area, such as in a local community for a small business.

Detailed explanation-3: -The four target markets are geographic, demographic, psychographic, and behavioral.

Detailed explanation-4: -Your target audience refers to the specific group of consumers most likely to want your product or service, and therefore, the group of people who should see your ad campaigns. Target audience may be dictated by age, gender, income, location, interests or a myriad of other factors.

Detailed explanation-5: -A target market is the specific group of people you want to reach with your marketing message. 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.