Final answer:
The statement is true. A target market is indeed a group of consumers that a business specifically targets with its products and marketing efforts to increase effectiveness and success.
Step-by-step explanation:
The statement True or False: A target market is a specific group of consumers toward whom a firm directs its marketing effort is true. A target market refers to the particular group of consumers that a business aims to reach with its products, services, and marketing campaigns. These consumers are identified based on shared characteristics such as age, gender, income, interests, or location. By focusing on a target market, firms can tailor their messaging and products to meet the specific needs and preferences of that group, thereby increasing the effectiveness of their marketing efforts and enhancing the chances of business success.