Which of the following statements about target markets is incorrect?
A) There is a distinct difference between a firm's industry and its target market.
B) The challenge in identifying an attractive target market is to find a market that's large enough for the proposed business but is yet small enough to avoid attracting larger competitors.
C) By focusing on a target market, a firm can usually avoid head-to-head competition with industry leaders and can focus on serving a specialized market very well.
D) A target market is a place within a larger market segment that represents a narrower group of customers with similar needs.
E) It's generally easier to find good information about a target market than an industry as a whole.

Question

Quizplus · Accepted Answer

Target markets are subsets of the broader market that a company has chosen to serve, and detailed information about these specific segments can sometimes be harder to find than general industry data. Industry information is often more readily available through various reports and databases, whereas target market data might require more specific, sometimes primary, research to understand fully.

Which of the Following Statements About Target Markets Is Incorrect