MANAGEMENT

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: -Consumers are defined as individuals or businesses that consume or use goods and services. Customers are the purchasers within the economy that buy goods and services, and they can exist as consumers or alone as customers.

Detailed explanation-3: -A customer profile is a document or platform that contains key information about your ideal customers and their interactions with your business. It covers customer pain points, interests, buying patterns, demographic data, and more.

Detailed explanation-4: -A customer is someone who buys products or services from a company, while a client refers to a certain type of customer who purchases professional services from a business. Generally speaking, customers buy products while clients buy advice and solutions.

Detailed explanation-5: -So what are the three basic methods of customer profiling? There is the psychographic approach, the consumer typology approach, and the consumer characteristics approach.