Marketers identify which segments of buyers present the greatest opportunity. these segments are called target markets.
A target market is a specific group of people which have some shared characteristics that a business markets its products or services to. Companies use target markets to understand their potential customers thoroughly and craft marketing strategies which help them in meeting their business and marketing objectives.
Identifying a target market is an integral part of any new business undertaking, or any soon to be launched small business. Knowing your target market will sets you up for the success.
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