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What does the term 'target market' refer to?
What does the term 'target market' refer to?
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Practice Questions
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Q1
What does the term 'target market' refer to?
The entire market for a product
A specific group of consumers a business aims to reach
The competitors in a market
The geographical area of sales
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The target market refers to a specific group of consumers that a business aims to reach with its products or services.
Questions & Step-by-step Solutions
1 item
Q
Q: What does the term 'target market' refer to?
Solution:
The target market refers to a specific group of consumers that a business aims to reach with its products or services.
Steps: 4
Show Steps
Step 1: Understand that a business creates products or services.
Step 2: Recognize that not everyone will want to buy these products or services.
Step 3: Identify that a target market is a specific group of people who are most likely to buy what the business offers.
Step 4: Realize that businesses focus their marketing efforts on this specific group to increase sales.
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