MANAGEMENT

Detailed explanation-1: -The first step in identifying your target market is understanding what your products/services have to offer to a group of people or businesses. To do this, identify your product or service’s features and benefits. A feature is a characteristic of a product/service that automatically comes with it.

Detailed explanation-2: -Step 1: Identify your target market The first step you need to take is to define your target market. Having a clear profile of your target customers will help you weed out the ‘maybes’ and ‘nevers’, and ensure that your marketing activities are targeted and cost-effective.

Detailed explanation-3: -The target marketing process provides the fundation for selecting the target market – a chosen segment of the market that an organization wishes to serve. It consists of the 3 step process of (1) segmentation, (2) targeting, and (3) positioning.