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A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business 's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit ...
v. t. e. Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market ...
The domain target.com attracted at least 288 million visitors annually by 2008, according to a Compete.com survey. [39] In August 2009, Target announced that they would build and manage a new Target.com platform, independent of Amazon.com. This new platform was to launch in 2011, in advance of the holiday season.
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Customer satisfaction is a term frequently used in marketing to evaluate customer experience. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products ...
Persona (user experience) A persona (also user persona, user personality, customer persona, buyer persona) in user-centered design and marketing is a personalized fictional character created to represent a user type that might use a site, brand, or product in a similar way. [1] Personas represent the similarities of consumer groups or segments ...
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