Identify the target market for a specific product or service.

Identification should involve defining target market and explaining the

• benefits that the product or service can provide
• needs and wants of potential customers
• market segmentation (e.g., demographics and/or psychographics, location/schedule of potential customers)
• number of customers in each potential market group.

Process/Skill Questions:

• What is a target market?
• What steps are involved in identifying a target market?
• Why is it critical to understand the customer?
• How can businesses reach different target markets simultaneously?