What Are Target Markets? Explain the Role That Target Markets

question 7

Essay

What are target markets? Explain the role that target markets play in market segmentation.

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Definitions:

Automobiles

Motor vehicles with four wheels designed primarily for passenger transportation on roads.

Simple Interest

Interest computed solely on the initial amount of a loan or deposit, not taking into account the effects of compounding.

Annual Raises

Incremental increases in salary or wages that employees receive on a yearly basis as a reward for performance and/or to keep up with inflation.

Annual Salary

The total amount of money that an employee is paid annually by their employer for their job duties.