MANAGEMENT

Detailed explanation-1: -The four target markets are geographic, demographic, psychographic, and behavioral.

Detailed explanation-2: -There are three different target market strategies you can implement – differentiated marketing, concentrated marketing, and undifferentiated marketing. Learn the differences and select the right strategy for your business.

Detailed explanation-3: -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-4: -Differentiated Marketing It is also called multisegment marketing. Each segment is targeted in a particular way, as the company provides unique benefits to different segments. The goal is to help the company increase sales and market share across each segment it targets.