What is a target market and why is important to identify one?

1 answer:

8 0

Answer: a target market refers to the group of individuals or potential consumers that a company expects that they will buy the product that it's selling. A target market varies based on the place , the way of life and behavioural ways of people .

Explanation:

Why is it important?

A company needs to know whom they are going to be selling their product to and who is very likely to buy it ,these are the people who are likely to help the business grow as they buy the product and they are very likely to maintain their loyalty to that particular product.

A business relies on customers and how they buy the product and their constant loyalty.

the company needs to establish those customers who are their target market because it would help them grow the business.

You might be interested in

In the market for online tutoring, there is an increase in the supply of online tutors during finals week, but there is an even

skelet666 [1.2K]

Answer:

The correct answer is: increase; increase.

Explanation:

Suppose in the market for online tutoring, there is an increase in the supply of online tutors during the final week. This will cause the supply curve to shift to the right. At the same time, the demand for online tutors increases more than supply. This will cause a rightward shift in the demand curve as well.

The rightward shift in both curves will cause the equilibrium quantity to increase. Since the increase in demand is greater than the increase in supply, the equilibrium price will increase as well.

6 0

3 years ago

A subdivision declaration reads, "No property within this subdivision may be further subdivided for sale or otherwise, and no pr

Aleksandr-060686 [28]

Restrictive covenant is the correct answer.

A restrictive covenant is any kind of agreement that demands that the buyer either take or abstain from taking an specific action. Through these covenants sellers bind legal obligations to the deed of a property that can be either simple or complex and levy penalties against buyers who do not obey them. Sometimes, these types of covenants can be removed through payments to sellers. These sellers can pertain to basically everything from the color you are allowed to have your house painted and what type of roof you are allowed to have on your house to how many people are allowed to live in the apartment.

4 0

2 years ago

Pakistan has built the world’s largest

sergey [27]

Pakistan has built the world’s largest earth-filled dam in the world.

3 0

2 years ago

your going to be president what speach will you give what promises would you do and how would you accomplish your promises

Ivenika [448]

I don’t have all the greatest ideals i’ll admit, and wish to live the simple life of free trade and reserved government but that is a thing of the past. if i were president though, i would keep the promise of individual rights and the soul ideals of life, liberty and the pursuit of happiness. i would like to stop those trying to infringe on others rights and make everyone feel safe in their country.

4 0

2 years ago

our brother was happy to report to you that your 7-year-old niece and 8-year-old nephew both watch about 3 hours of educational

Akimi4 [234]

Answer:

Become overweight or obese

Explanation:

They are going to school and sitting and watching TV for three hours without any exercise

Hope this helps

7 0

2 years ago