A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Question

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This is a correct statement defining a target market. A company may choose to focus on serving a particular group of buyers based on their needs, preferences, demographic characteristics, or other relevant factors that differentiate them from other potential customers. Identifying a target market is crucial for developing an effective marketing strategy and achieving sustainable growth.

A Target Market Consists of a Set of Buyers Who