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- Identifying a target market is important because1234:
- Organizations don't have the time or resources to be able to reach everyone with a product message. Identifying a target market allows marketers to focus on those most likely to purchase the product.
- Limiting the population funnels research and budgets to the customers with the highest profit potential.
- The target market also can inform a product's specifications, packaging, and distribution.
- Having the right target market helps you determine where to find potential clients who are looking for what you have to offer.
- If you have a target market, you know where to concentrate your marketing efforts and what to offer that is compelling and well received.
- Identifying a target market supports the business plan, fosters customer satisfaction, improves efficiency of advertising efforts, and increases overall profits.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Organizations don't have the time or resources to be able to reach everyone with a product message. Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.smallbusiness.chron.com/identifying-target-market …Key Takeaways
- 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.
www.investopedia.com/terms/t/target-market.aspHaving the right target market helps you determine where to find potential clients who are looking for what you have to offer. If you have a target market, you know where to concentrate your marketing efforts and what to offer that is compelling and well received.www.coxblue.com/3-reasons-to-choose-a-target-m…Why is it important to identify a target market?
- Supports the business plan Many business plans indicate target markets to create more comprehensive company visions. ...
www.indeed.com/career-advice/career-developme… - People also ask
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