BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of these are questions a business should ask when identifying its target market? Check all that apply.
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How old are they?
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How much money do they make?
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How do they like to purchase their products and services?
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Where do they live?
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Explanation:
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: -The common types of target markets are – geographic segmentation (location-based), demographic segmentation (population-based), psychographic segmentation (lifestyle and socio-economic-based), and behavioral segmentation.
There is 1 question to complete.