MANAGEMENT

Detailed explanation-1: -A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company’s product or service. Identifying the target market is important in the development and implementation of a successful marketing plan for any new product.

Detailed explanation-2: -Define “Target Market”. A specific group of consumers that an organization selects as the focus of its marketing plan. Back in the 1950’s mass marketing was more common. This involves promoting products with one key message that is directed to everyone.

Detailed explanation-3: -primary consumers, secondary consumers, tertiary consumers or apex consumers are the different types of consumers.

Detailed explanation-4: -The phrase “consumer group” can actually have a couple of common uses. In marketing, it is a group of household customers with shared traits that a company targets with advertising. However, this is more often referred to as a target market or customer group.

Detailed explanation-5: -target market refers to a specific group of consumers on whose needs and wants a company focuses its marketing efforts.