MANAGEMENT

Detailed explanation-1: -Focus groups are a market research method where a small, diverse group of participants are brought together to discuss a specific topic or product. Focus groups gather qualitative data and gain insights into consumer attitudes, opinions, and behaviors.

Detailed explanation-2: -Market segmentation is a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests.

Detailed explanation-3: -Micromarketing. Micromarketing is a marketing strategy that specifically targets a narrow segment of a niche market. Typically, the target audience of a micromarketing campaign is defined by specific characteristics such as age, job title, geographic location, or gender.

Detailed explanation-4: -A target market can be translated into a profile of the consumer to whom a product is most likely to appeal. The profile considers four main characteristics of that person: demographic, geographic, psychographic, and behavioral.