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An entrepreneur repeatedly targets a specific group of customers and designs the product for their particular needs. Which concept is being used?

Answer and explanation

Correct answer: Target customer segment

A target customer segment is a defined group whose members share relevant needs, characteristics, or buying behaviour. Designing an offer for that group helps the entrepreneur communicate clearly and use resources more effectively. General production does not specify whom the product serves, random selling lacks focus, and targeting a segment does not mean that all business risk disappears.

Related tags

Target CustomerCustomer SegmentMarketProduct DesignIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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