Businesses need to direct their product marketing strategies to the individuals most likely to purchase it. Often marketing managers examine potential markets for their possible effects on the firm's sales, costs, and profits. Which of the following is the designation given for the group to which marketing managers direct the focus of their marketing efforts for a product? a. Target market b. Mixed market c. Potential market d. Market segment

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Business

Morrison

10 February, 05:58

Businesses need to direct their product marketing strategies to the individuals most likely to purchase it. Often marketing managers examine potential markets for their possible effects on the firm's sales, costs, and profits. Which of the following is the designation given for the group to which marketing managers direct the focus of their marketing efforts for a product? a. Target market b. Mixed market c. Potential market d. Market segment

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Bond · Answer 1

a. Target market

Explanation:

A target market is one of the main components of a market strategy. A target market is said to be a specific group of customers that has a particular need that a business has identified and is set out to meet by providing services or products that would cater for such. Market target is the major focus any marketing campaign, efforts and resources are focused on. It is the specific group of individuals any marketing manager wishes to reach with their message through their marketing campaign.

An example of a target market could be people that are 50 years and above, and are close to retirement that a company aims to sell life insurance to.