A(n) ________ market definition of a business focuses on selling a product or service to an existing market.
A) target
B) strategic
C) mass
D) differentiated
E) integrated

Question

Quizplus · Accepted Answer

A target market definition focuses on identifying and selling a product or service to a specific group of consumers who are most likely to buy it. This approach allows businesses to tailor their marketing efforts and product offerings to appeal to the needs and preferences of their target audience, which can lead to increased sales and customer loyalty. In contrast, a mass market definition is more broad and focuses on reaching as many consumers as possible with a generic product or service, whereas a differentiated market definition aims to appeal to multiple segments with different needs and preferences. A strategic market definition may consider a mix of these approaches, and an integrated market definition would involve combining different marketing channels and strategies.

A(n) ________ Market Definition of a Business Focuses on Selling