Question

A(n) _____ is a defined group of people that a company feels is most likely to buy a firm’s product. a. target market b. demographic sample c. aggregated unit d. consumer cluster e. buying center

Answer 1

Answer: A. Target Market

Explanation: A target market refers to a pool of potential Individuals, group or consumers which a company has identified as being the most likely to purchase it's product. The target market may be individuals or groups belonging to the same age group, sex, occupation, hobby, education, location, race, skin color or even weight. Identifying a target market enables companies prepare a marketing plan centered around its potential consumers. Failure to identify a target market could be devastating for business growth.