Question

Businesses adopt and identify target markets for their products to: a. maximize the impact of the cost of marketing. b. coerce people into buying products they do not need. c. adopt consumer-friendly pricing strategies such as price skimming for new products. d. collect information from the external marketing environment.

Answer 1

Answer: maximize the impact of the cost of marketing

Explanation:

The target market is a particular group of consumers that the advertisement of a product or service is typically aimed at.

Businesses adopt and identify target markets for their products to maximize the impact of the cost of marketing. When the target market for a product or service has been known by a company, the business can find the most efficient and effective strategy to advertise their product. This will help in the minimization of cost of marketing.