MANAGEMENT

Detailed explanation-1: -A target market is a specific group of consumers who have similar wants and needs. The goal is to convert consumers into customers. The purpose of marketing is to connect businesses with their customers.

Detailed explanation-2: -Customer segmentation is the practice of dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing, such as age, gender, interests and spending habits.

Detailed explanation-3: -What are market needs? Market needs refer to the functional needs, desires and goals of a target audience. A company may identify an area of the market with unmet needs and create a product or service that addresses them. If that audience has a large amount of need, the company may receive a significant profit.

Detailed explanation-4: -The four target markets are geographic, demographic, psychographic, and behavioral.