What is target market selection? Explain the factors determining target market
selection?
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Target Market Selection. Target market represents a group of individuals who have similar needs, perceptions and interests. They show inclination towards similar brands and respond equally to market fluctuations. ... Target market includes individuals who have almost similar expectations from the organizations or marketers ...These include gender, age, income levels, race, education, religion, marital status, and geographic location. Consumers that fall into these groups tend to value the same products and services, which is why narrowing down these segments is one of the most important factors to determine target markets.
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Target marketing tailors a marketing mix for one or more segments identified by market segmentation. ... Two important factors to consider when selecting a target market segment are the attractiveness of the segment and the fit between the segment and the firm's objectives, resources, and capabilities