A target market is a segment that a firm has selected from among all those that can be defined in the broader market.

Question

Quizplus · Accepted Answer

A target market is a specific segment or group of potential consumers that a firm has identified as the most likely to buy its product or service. By focusing on this target market, the firm can tailor its marketing efforts and better meet the needs of its customers, resulting in more effective and efficient sales strategies. Therefore, it is true that a target market is a segment that a firm has selected from among all those that can be defined in the broader market.

A Target Market Is a Segment That a Firm Has