Discussion:
Estimated time to complete:
Determining a target market is important; otherwise money and resources are wasted on trying to sell product to the wrong customers. After the target market is selected, there are various pricing strategies a business owner or manager might utilize to maximize revenues.
• Assuming the role of a business owner, describe the product or service that is offered to customers.
• Describe methods that will be utilized to select the target market for the business.
• Describe who your customers are (the target market).
• Complete additional research on this topic as necessary.