Target Market

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What Is a Target Market?

A target market refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its marketing efforts. A target market is one part of the total market for a good or service.
A target market is a subset of the total market for a product or service
Consumers who make up a target market share similar characteristics including buying geography, buying power, demographics, and incomes.

  • A target market refers to a group of customers to whom a company wants to sell its products and services, and to whom it directs its marketing efforts.
  • Consumers who make up a target market share similar characteristics including geography, buying power, demographics, and incomes.
  • Identifying the target market is important for any company in the development of a marketing plan.
  • Not knowing who the target market is could cost a lot of money and time for a company.

Source: investopedia.com

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