BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A target market can be described as the
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direction the market is headed
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group of customers the business seeks to attract
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way a business draws its customers
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sample of the market
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Explanation:
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: -The four target markets are geographic, demographic, psychographic, and behavioral.
Detailed explanation-3: -Organizations don’t have the time or resources to be able to reach everyone with a product message. Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.
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