Glossary
A target market is a particular segment of consumers who are most likely to purchase a product or service because of their individual qualities, like interests, attitudes, and behavior. Companies segment target markets based on the demographic, geographic, psychographic, and behavioral criteria, allowing them to better understand potential customers and personalize marketing messages.
Having a predetermined target market in a business plan not only helps companies expand their customer bases but maximizes their returns on investment (ROIs).
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