The target market for a product or service should be given strong consideration before the final price is chosen.

Question

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The target market is a key factor in determining the appropriate price for a product or service. Different groups of consumers may have different price sensitivities, so it's important to understand their needs and preferences before setting the price. Factors such as income levels, demographics, geographic location, and lifestyle can all influence how much customers are willing to pay. Therefore, it's essential to conduct market research and analyze the competition in order to develop an effective pricing strategy that meets the needs of the target market.

The Target Market for a Product or Service Should Be