Question

(1) A(n) _____ is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Answer 1

Answer:

Target market

Explanation:

A TARGET MARKET is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Target market refers to a group of people who are most likely to purchase a company's product. They are potential customers to whom a firm wants to sell it's product and services.

Target market includes specific customers to whom a firms efforts of marketing is directed. The target market Customers possess similar characteristics such as age, income level, location and lifestyle.

A firm need to segment the market using various factors such as gender, income level, age and focus on a particular group. This helps the firm to strategize better on how to satisfy the target Customers.