Date: 2nd August, 2020

Name: Rupesh Bimali’

Batch : BHM 7B
Subject: Entrepreneurship
Chapter: 5
Session: 19

Post Assignment

Topic 1: Target market:

MCQs:
1. is a specific group of consumers at which a company aims its products and services.
Target Market.
2. The elements of the micro-environment consist of?
Suppliers, competitors, customers and distributors.

Short Question:
1. What do you mean by target market?
Ans:
A target market refers to a group of potential customers to whom a company wants to
sell its products and services. This group also includes specific customers to whom a
company directs its marketing efforts. A target market is one part of the total market for a
good or service. Target market is the end consumer to which the company wants to sell its
end products too. Target marketing involves breaking down the entire market into various
segments and planning marketing strategies accordingly for each segment to increase the
market share.

Topic 2: Determining a target market:

MCQs:
1. The of a venture could be that the company has experience in related business?
Strength.

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2. Internal strengths and weakness are
usually controllable activities within an
organization.

Short Question:

1. Why determining a target market is important?

Ans:
Although it may be time consuming up front, determining a target market allows you to focus
your marketing efforts in the most cost effective way possible. Begin by clearly defining your
product or service and then defining the person or business that will want to use what you
have to offer. Understanding the needs of consumers is essential. You can often discover
exactly how you can meet consumer needs through careful market research including running
a focus group, scanning industry reviews or doing a market survey.

Topic 3: Steps in target market determination:

MCQs:
1. The marketing environment consists of which of the
following? Micro Environment and Macro Environment.
2. An organization’s strengths and weaknesses are determined relative
to? Competitors.

Short Question:

1. What are the different steps of determining a target market?

Ans:
The different steps of determining a target market are as follows:
• The different steps of determining a target market are as follows:
• Is your product international, national or local in scope?
• Are your target consumers male or female?
• How old are they?
• Are your target consumers single, married or divorced?
• What level of education has your target consumers completed; high
school, college or university?
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