Target Market Flashcard

Front

What is a target market?

Back

A target market is a specific group of consumers at which a company aims its products and services.

Front

Why is identifying a target market important for businesses?

Back

Identifying a target market allows businesses to focus their marketing efforts and resources on people who are most likely to invest in their products.

Front

What age range is considered the target market for Wicked?

Back

Women aged 15 to 60.

Front

How does a target market help tailor marketing strategies?

Back

A target market helps tailor marketing strategies by allowing businesses to create messages and campaigns that resonate with specific groups of consumers.

Front

What is an example of a target market?

Back

Toys being sold to a specific age group.

Front

True or False: A target market can include all genders.

Back

True.

Front

What is the benefit of focusing on a target market?

Back

Focusing on a target market increases the likelihood of sales by targeting consumers who are more likely to be interested in the product.

Front

How can a company determine its target market?

Back

A company can determine its target market through market research, surveys, and analyzing consumer behavior.

Front

What is the difference between a target market and a target audience?

Back

A target market refers to the broader group of potential customers, while a target audience is a more specific segment of that market that a particular campaign is aimed at.

Front

True or False: Target markets are static and do not change over time.

Back

False. Target markets can change based on trends, consumer preferences, and market conditions.