Question

Definition of target market and market segmentation

Answer 1

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Market Segment


Market segmentation is the process of dividing a market of potential customers into groups


Target Market:

particular group of consumers at which a product or service is aimed.


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Answer 2

Market segmentation is the process of categorizing the market into different groups, according to demographic, geographic, behavioral and psychographic traits. The target market is the market segment that the business is focusing on for a specific product or marketing campaign.