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- Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service. Identifying the target market is important in the development and implementation of a successful marketing plan for any new product.www.investopedia.com/terms/t/target-market.aspThis process of evaluating and selecting market segments is known as market targeting. Market Targeting Process There are two steps of market targeting process, the first step is to evaluate market segmentation and select those segments that suit the business. In the second step, marketers select appropriate market targeting strategies.www.marketingtutor.net/market-targeting/A target market is a specific group of people with shared characteristics that a business markets its products or services to. Companies use target markets to thoroughly understand their potential customers and craft marketing strategies that help them meet their business and marketing objectives.www.coursera.org/articles/target-marketMarket segmentation and targeting refer to the process of identifying a company’s potential customers, choosing the customers to pursue, and creating value for the targeted customers. It is achieved through the segmentation, targeting, and positioning (STP) process.corporatefinanceinstitute.com/resources/managem…A target market is the specific group of people you want to reach with your marketing message. They are the people who are most likely to buy your products or services, and they are united by some common characteristics, like demographics and behaviors.blog.hootsuite.com/target-market/
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There are two steps of market targeting process, the first step is to evaluate market segmentation and select those segments that suit the business. In the second step, marketers select … See more
In todays’ business environment every business needs market targeting strategies. Targeting the right market is very important. Here we will discuss four types of market targeting strategies with examples. See more
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