‘Target market’ and ‘target customers’ are two critical terms in business and they are very important since the same determines the success of any business. Merely identifying these two elements will not assure market success. Business concerns must first of all
determine what constitutes the target market. Then identify the factors that can prompt customers to take a buying decision. They should then develop an effective marketing strategy to reach out, engage and connect with customers. Also firms must be dynamic and change according to changing market trends and competitor actions.
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