Review the text definitions of market and target market.

Markets can be classified as consumer or industrial. Buyer behavior consists of the decisions and actions of those involved in buying and using products or services. By examining aspects of a company’s products, you can determine the company’s target market and the characteristics important to members of that target market.

Assignment

1. Working in teams of three to five, identify a company and a few of its most popular products.

2. List and discuss characteristics that customers may find important, including price, quality, brand name, variety of services, salespeople, customer service, special offers, promotional campaign, packaging, convenience of use, convenience of purchase, location, guarantees, store/ office decor, and payment terms.

3. Write a description of the company’s primary customer (target market).