Question

Compare & contrast any two market on the basis of the following:
Need and nature of the market
Target audience
Varieties of goods available in the market.
Affordability ​

Answer 1

Answer:

Target Market and Potential Customers

A target market is a more broad group of potential customers defined by ranges. For example, for your business, a target market might be ages 18 to 34, or a certain income bracket. This is the group that's most likely to purchase the product your business has to offer. The target market may need to be broken down to a specific target customer should you decide to customize your marketing efforts.

Identifying Your Target Customer

Your target customer is the person you've identified as most likely to purchase your products, according to Entrepreneur.com. This is a much more segmented portion of your target market, as you've identified certain aspects of this individual. These components might include a specific age instead of a range, a specific income level versus a large swath of income types, and the reasons these customers are most likely to purchase your products.