Question

What is the importance of identifying target markets?​

Answer 1

Identifying a target market helps your company develop effective marketing communication strategies. A target market is a set of individuals sharing similar needs or characteristics that your company hopes to serve. These individuals are usually the end users most likely to purchase your product.

Answer 2

Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential