the process of selecting a target market and creating a marketing mix to satisfy its needs is
Target market A target market is a group of customers within the serviceable available market that a business has decided to aim its marketing efforts towards.[1] A well-defined target market is the first element of a marketing strategy.[2] Product, price, promotion, and place are the four elements of a marketing mix strategy that determine the success of a product or service in the marketplace[citation needed]. It is proven that a business must have a clear definition of its target market as this can help it reach its target consumers and analyze their needs and suitability.[3]
Focus group A focus group is a small, but demographically diverse group of people and whose reactions are studied especially in market research or political analysis in guided or open discussions about a new product or something else to determine the reactions that can be expected from a larger population.[1][2][3] It is a form of qualitative research consisting of interviews in which a group of people are asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, concept, advertisement, idea, or packaging. Questions are asked in an interactive group setting where participants are free to talk with other group members. During this process, the researcher either takes notes or records the vital points he or she is getting from the group. Researchers should select members of the focus group carefully for effective and authoritative responses.