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Target Markets

Market segment which a particular product is marketed to. It is often defined by age, gender and/or socio-economic grouping. A target market is usually found after segmenting and analysing the whole market. Target market selection depends on- 1. Number of competitors in the market 2.The preference/choice of customers 3.value attached to the product which company wants to convey to the market.

Total Quality Management (TQM)

Doing business whilst aiming for constant improvement of a company's quality and services. The main idea behind TQM is to ensure the quality of products and services, through the application of a wide range of management tasks.

 

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