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Title: What is a target market? Briefly explain how a well-defined target market is important to a company. Post by: Yokav on Oct 11, 2017 What is a target market? Briefly explain how a well-defined target market is important to a company.
Title: Re: What is a target market? Briefly explain how a well-defined target market is important to a ... Post by: saltie on Oct 11, 2017 A target market is any group of people who have similar wants and needs and may be expected to show interest in the same product(s). Identifying target markets is important because:
- it helps focus a company's marketing mix (product characteristics, pricing, promotion, and place) - it gives information on consumer buying traits - it helps marketing managers focus on the big picture, and not on an individual basis |