Sample interview questions: How would you define target market and why is it crucial for market segmentation?
Sample answer:
Definition of Target Market:
A target market is a specific group of individuals or organizations that a business aims to reach with its marketing efforts. It comprises individuals who share similar characteristics, needs, and desires that align with the products or services offered by the business.
Crucial Importance of Target Market for Market Segmentation:
Target market definition is crucial for market segmentation because it serves as the foundation for identifying and grouping customers into distinct segments. This process enables businesses to:
- Tailor Marketing Strategies: By understanding the specific characteristics, preferences, and behaviors of their target market, businesses can tailor their marketing messages and campaigns to resonate effectively.
- Increase Marketing Efficiency:… Read full answer
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