The combination of the target industry segment/niche, the target customer with that industry area, and the amount of revenue that can be generated is called the:
A) Target Market
B) Profit Market
C) User Market
D) Addressable Market

Question

Quizplus · Accepted Answer

The combination of the target industry segment/niche, the target customer with that industry area, and the amount of revenue that can be generated is known as the addressable market. The addressable market is the total revenue opportunity for a product or service within a specific market. It is the market that a company can realistically target for its product or service. Therefore, option D is the correct answer. A is incorrect as the target market refers to a more general concept of the group of customers or consumers identified as the intended recipient of a product or service. B and C are incorrect as there are no such terms as Profit Market and User Market.

The Combination of the Target Industry Segment/niche, the Target Customer