MANAGEMENT

Detailed explanation-1: -A group of customers that have already purchased a product or service is referred to as a “penetrated market."

Detailed explanation-2: -A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company’s product or service.

Detailed explanation-3: -– Qualified available market Set of consumers who have the interest, income, access and qualifications for a particular product or service.

Detailed explanation-4: -Consumers are defined as individuals or businesses that consume or use goods and services.

Detailed explanation-5: -A customer is a person or company that receives, consumes or buys a product or service and can choose between different goods and suppliers. The main goal of all commercial enterprises is to attract customers or clients, and make them purchase what they have on sale.