Marketing management is the art and science of choosing target markets ( See below for full question )?

Marketing is an organizational function and a set of processes for creating, communicating and delivering values to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Thus we see Marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.

Marketing  is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.

Managers sometimes think of marketing as “ the art of selling product” but selling is only the tip of the Marketing iceberg. 

Peter Drucker, a leading management theorist puts it as:-

There will always, one can assume, be need for some selling. But the aim of marketing is to make selling

Marketing is an organizational function and a set of processes for creating, communicating and delivering values to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Thus we see Marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.

Marketing  is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.

Managers sometimes think of marketing as “ the art of selling product” but selling is only the tip of the Marketing iceberg. 

Peter Drucker, a leading management theorist puts it as:-

There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of Marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.

The aim of Marketing management is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available

Market management often provide a market research in order to establish target, which uses four different methods that are most common.

1.Qualitative marketing research, also known as focus group, interviews with individuals.

2.Quantitative marketing research, like making survey and getting statistic

3.Experimental techniques, which test the market.

4.Observational techniques, observing the market.

so, what I believe, is the first method is what you are want to elaborate which, this method this is where they gather group of people, that shares similar demographic or segment similarity, which is only one where there is communications, ofcourse there are different ways to conduct this techniques, group participate, individual questionnaire and what not, this can help understand the needs of customers and value, and help create a product that would be innovative and very beneficial 

Marketing management is the art and science of choosing target markets and building profitable relationships with them.  This involves getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.  Thus, marketing management involves managing demand, which in turn involves managing customer relationships.

The statement made herein above is very true and no doubt it is the art and science of making business. 

And further agree with Mr. Pravin's elaborate answer. Thanks.

A target market is the market (or customers) a company wants to sell its products and services to, and to whom it directs its marketing efforts. Identifying the target market is an essential step in the development of a marketing plan. A target market can be separated from the market as a whole by geography, buying power and demographics, as well as by psychographics. So to keep this success you must develop relation with customers & asking for their new demand or desire.

The answer lies on field of  Customer-Driven Marketing Strategy.

Primarily, consumers and the marketplace should be fully understood then marketing management can design a customer-driven marketing strategy. marketing management defined as the art and science of choosing target markets and building profitable relationships with them. This means the marketing manager’s should try to find, attract, keep, and grow target customers by creating, delivering, and communicating superior customer value. So, to design a winning marketing strategy, the marketing manager must answer two important questions: What customers will we serve (what’s our target market)? and How can we serve these customers best (what’s our value proposition)? the answer as follow:

First: Selecting Customers to Serve

The firm does this by dividing the market into segments of customers (market segmentation) and selecting which segments it will go after (target marketing). Some marketers may even seek fewer customers and reduced demand. E.g. many power companies have trouble meeting demand during peak usage periods. Thus, marketing managers must decide which customers they want to target and the level, timing, and nature of their demand. Simply put, marketing management is customer management and demand management.

Second: Choosing a Value Proposition

The firm must also decide how it will serve targeted customers and how it will differentiate and position itself in the marketplace. A company’s value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs. For instances, Saab promises driving performance and excitement: “Born from jets . . . you can learn what it’s like to fly without ever leaving the ground.” By contrast, Subaru provides safety: “Air bags save lives. All-wheel drive saves air bags. It’s what makes a Subaru a Subaru.” Propel Fitness Water by Gatorade is “made for bodies in motion.” Red Bull energy drink, on the other hand, helps you fight mental and physical fatigue. It captures 70 percent of the energy drink market by promising “It gives you wiiings!” .

Such differing value propositions differentiate one brand from another. They answer the customer’s question “Why should I buy your brand rather than a competitor’s? so it is recommended that companies must design strong value propositions that give them the greatest advantage in their target markets.

I'm not sure about 'choosing target market'. I would rather say choosing target audience. 

Marketing management is about application of marketing orientation, techniques and methods and choosing target market is just a part of it.

A market is consists of all potential customers having a particular need or want, who might be willing and has the capacity to satisfy their need and want.

 Marketers see the buyers as  market and target the market based on need (Halal meat market), demography (youth market), geography (middle-eastern market) etc.  and choose the marketing strategy accordingly.

Mr : Pravin Matey has given a good answer above

Thanks

Agree with answers given by Mr. Fazlur and Mr. Pravin

I agree with Pravin answer