What are target markets? Explain the role that target markets play in market segmentation
What will be an ideal response?
Answer: Target markets are groups of people with similar wants and needs. Target marketing requires market segmentation, which is dividing a market into categories of customer types or segments. Once companies identify market segments, they may adopt a variety of marketing strategies that appeal to each segment.
Business
You might also like to view...
Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use
Indicate whether the statement is true or false
Business
The main legal systems of the world are:
a. civil law, common law and US law. b. civil law, Islamic law and common law. c. common law, civil law and Chinese law. d. common law, civil law and international law.
Business