Question

A company carefully defines its target market. Now the company will be able to focus on people with a preexisting need or interest in what it offers. Therefore resulting in higher sales and less wasted time and effort on potential customers that are not interested in what the company has to offer. This is an example of:_____.a. why a company would seek to define its target market a a component in creating the company's marketing strategy.
b. why the marketing strategy defines the target market for a company.
c. why it is important for companies to develop their value proposition.
d. why carefully choosing customers is important when engaging in product development.

Answer 1

Answer: a. Why a company would seek to define its target market as a component in creating the company's marketing strategy

Explanation:

A target market for a particular business simply means the group of customers that the business channels its marketing efforts towards. For example, a business that produces mens clothes will channel its efforts towards men rather than women, therefore its target market will be men.

Based on the scenario in the question, this is an example of why a company would seek to define its target market a a component in creating the company's marketing strategy. Identifying the target market will help in minimizing waste fo resources and bring about increase in productivity.