MANAGEMENT

Detailed explanation-1: -A target market is a specific group of people with shared characteristics that a business markets its products or services to. Companies use target markets to thoroughly understand their potential customers and craft marketing strategies that help them meet their business and marketing objectives.

Detailed explanation-2: -A target market is the set of consumers that a company plans to sell to or reach with marketing activities.

Detailed explanation-3: -A target market is a group of potential customers that you identify to sell products or services to. Each group can be divided into smaller segments. Segments are typically grouped by age, location, income and lifestyle.

Detailed explanation-4: -The four target markets are geographic, demographic, psychographic, and behavioral.

Detailed explanation-5: -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.