What is Target market ? Explain in details.
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A target market refers to a group of customers to whom a company wants to sell its products and services, and to whom it directs its marketing efforts. Consumers who make up a target market share similar characteristics including geography, buying power, demographics, and incomes.
Small businesses often target customers by gender or age. For example, a women's clothing retailer directs its promotional efforts at women. ... Similarly, some small companies market to specific age groups. Companies selling life insurance for people close to retirement age may target people 50 and over.
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