Terence, an employee at a financial institution is designing a marketing program for their products and services. One or more specific groups of potential consumers toward which the financial institution directs its marketing program is known as a
________.
A)marketing mix
B)target market
C)sub-market
D)generic market

Question

Quizplus · Accepted Answer

A target market is a specific group or groups of potential customers that a company focuses its marketing efforts on. The marketing program is designed to meet the needs and wants of this target market, and to differentiate the company's products and services from those of its competitors. Options A, C, and D are not accurate definitions of a target market. A marketing mix refers to the set of tactics or tools that a company uses to promote its products or services, while sub-market and generic market are not commonly used marketing terms.

Terence, an Employee at a Financial Institution Is Designing a Marketing