Week 2 DQs

What is a target market? How do you segment a market to identify a target market? What is the value of identifying the optimal target market for a product or service? A target market refers to a particular type of customers for whom the company produces its goods or services (2011). The target market of a company depends on the kind of products and services it provides. Identifying a target market can be effortless but it can also be challenging, all of this is dependent on the type of goods provided by the company. Age, income, geographic location, personality traits, purchasing patterns, purchasing behaviors etc. have to be kept in mind while deciding the target market. These factors will help the company decide what type of customers to target their product...