Which principle ensures that products and services marketed to the retail market meet the needs of specific consumer groups?

The principle that ensures that products and services marketed to the retail market meet the needs of specific consumer groups is Treating Customers Fairly (TCF). This principle is fundamental in promoting fairness and transparency in consumer financial services. It encompasses a range of expectations for businesses to deliver products and services that are suitable and appropriate for the diverse needs of individual consumers.

TCF focuses on understanding the specific circumstances and requirements of various consumer segments, which helps organizations tailor their offerings accordingly. This approach not only enhances customer satisfaction but also builds trust and loyalty. When companies prioritize the needs of specific consumer groups, they are more capable of providing fair treatment, which can lead to better outcomes for consumers.

In contrast, the other options relate to different aspects of consumer protection and business practices. Data protection is primarily focused on safeguarding personal information, and market compliance refers to adhering to regulations and standards in the marketplace. Consumer rights cover the legal rights that users have concerning products and services but do not explicitly relate to the tailored communication and provision of products and services based on consumer needs, which is the essence of the TCF principle.