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- Identifying a target market is important because it12345:
- Enables the firm to direct its resources to those customers with high potential for sales growth, interest in the product and loyalty to the brand1.
- Helps you divide a broad market into smaller, more relevant segments2.
- Informs a product's specifications, packaging, and distribution3.
- Supports the business plan4.
- Fosters customer satisfaction4.
- Improves efficiency of advertising efforts4.
- Increases overall profits4.
- Allows you to have a better quality of interaction with your customers5.
- Makes your ads more effective as you’re talking to the right people about the right product or service5.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Choosing a target market is important because it enables the firm to direct its resources to those customers with high potential for sales growth, interest in the product and loyalty to the brand.bizfluent.com/about-7369454-importance-target-m…Target marketing helps you divide a broad market into smaller, more relevant segments. Letting you define your target demographic based on their unique traits, it helps you focus on those people that are really interested in what you have to offer and who may benefit from your products.www.woblogger.com/what-is-target-marketing-and …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.aspWhy 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…Target marketing is about narrowing your marketing scope to a more manageable group of people so that you can have a better quality of interaction. By using targeted marketing, your ads will also be more effective as you’re talking to the right people about the right product or service.www.georgiasbdc.org/why-target-marketing-is-imp… - People also ask
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