In: Operations Management
Market: ____ (Explain who is your target market AND why. If you do not know why yet, please explain what kind of research/information you plan to get to support the why. Be specific)
For any company the maximum possible number of customer would come from certain communities or groups who uses the product or service or for whom the product or service is made . These people become the target market for the company . For example a baby products manufacturing company targets new mothers and mothers of children below 10 years as they would be the people who buy the product for their babies. These people would become the target market for the company . As this would be the area of the market where our product gets sold the most and the company would have the scope to earn profits, that market area becomes our target market. In order to determine our target markets we gather information regarding what consumers want and how our product would satisfy them and which section of the market are more interested in our product which could be obtained by conducting surveys and taking opinions.