Question

There are five steps involved in segmenting and targeting a market. What should a marketer do once she has developed a market-product grid and estimated the size of markets?.

Answer 1

The marketer should select target markets once she has developed a market-product grid and estimated the size of markets.

What is a target market?

A target market being a group of customers that a business decides to aim its marketing efforts and ultimately products on. They are potential customers that one wish to sell products or services to.

Target market are the group of people in which the products are made for. The products are specifically tailored to certain set of people.

Hence, the marketer should select target markets once she has developed a market-product grid and estimated the size of markets.

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