Final answer:
You should focus on the specific needs and characteristics of your target market, while also considering global economic trends and general customer preferences due to the impacts of technology and globalization on market competition and behavior.
Step-by-step explanation:
When focusing on your target market, it is crucial to consider the specific needs and characteristics of the target audience (C) because it ensures that your marketing efforts are effectively tailored to those you intend to reach. However, given the context of technological advancements and globalization, it is also important to be aware of factors such as global economic trends (A) and general customer preferences (B) because they can influence consumer behavior and competitive landscapes. Regulatory compliance (D) is critical, but it is industry-specific and may not apply uniformly across all target markets.
Advances in communication technology and the development of the internet have globalized the marketplace, significantly increasing competition for both local retailers and business-to-business markets. These trends are imperative for businesses to track and utilize in their market definitions and strategies.