BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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measurable, large enough to be profitable, reachable,
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Large enough to be profitable, reachable, responsive, measurable
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Reachable, responsive, measurable, large enough to be profitable
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Responsive, measurable, large enough to be profitable, reachable
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Detailed explanation-1: -To define your target market effectively you’ll need to do some research. Gathering statistics and other market research data helps you to understand your potential customers and their needs and make better marketing decisions.
Detailed explanation-2: -A target market is the group of people most likely to purchase a specific product or service. It’s important for businesses to understand their target market, because members of this group are most likely to buy and recommend their products, improving the number of sales.
Detailed explanation-3: -Substantial: The market segments are large or profitable enough to serve.
Detailed explanation-4: -The more product a target is expected to buy over its lifetime, the more valuable the target. The more likely it is that a target can be economically sustained and, therefore, retained over time, the more valuable the target. The more homogeneous and preemptible a target’s needs are, the more valuable the target.