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 a group of customers within a business’s serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.

Detailed explanation-3: -What is a target market? 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: -A target customer is an individual that’s most likely to buy your product. And it’s a subset of the broader target market. For example, if your target market is female athletes between the ages of 13 to 25, a target customer could be female athletes in the specific age range of 13 to 16.

Detailed explanation-5: -The four target markets are geographic, demographic, psychographic, and behavioral.