MANAGEMENT

Detailed explanation-1: -A MARKET is a group of potential customers-people or businesses-who are willing to buy a particular product or service. Market research can help u decide to start a new business.

Detailed explanation-2: -A company’s potential customer is usually referred to as a prospect. It is a person who has the potential to be interested in the services and products that are offered by the company but has not yet purchased.

Detailed explanation-3: -There are many sources from which you can start building your potential customer list. Some of them are personal contacts, existing customers, asking for referrals from friends or family members, internet research, social media, trade shows or craft fairs, and joining community networking events.

Detailed explanation-4: -The customers who fall into this group of people most likely to benefit from and buy what you’re selling is the potential target market.