MANAGEMENT

Detailed explanation-1: -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-2: -The Minneapolis-based retailer has the second-highest customer loyalty, coming in behind Walmart. Target’s average customer is a woman who is 39 years old, white, married, with a household income of $80, 000.

Detailed explanation-3: -A target market can be translated into a profile of the consumer to whom a product is most likely to appeal. The profile considers four main characteristics of that person: demographic, geographic, psychographic, and behavioral.

Detailed explanation-4: -The target market for Best Buy is the entire focus market of consumer electronics consumers. As mentioned before, Best Buy uses a differentiated market coverage strategy by offering multiple brands to cater to the needs of all of the consumers in the consumer electronic market.