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  2. Key Takeaways

    • A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service.
    • Identifying the target market is important in the development and implementation of a successful marketing plan for any new product.
    • The target market also can inform a product's specifications, packaging, and distribution.
    www.investopedia.com/terms/t/target-market.asp
    www.investopedia.com/terms/t/target-market.asp
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  3. People also ask
    How do businesses define their target market?Businesses define their target market to know who they are selling to and how to reach those customers through their marketing efforts. In effect, every product or service on the market today can be said to be directed toward a specific target market.
    What is a target market & why is it important?A target market is the group of people most likely to purchase a specific product or service. It’s important for businesses to understand their target market, because members of this group are most likely to buy and recommend their products, improving the number of sales. How do you define your target market? Why is a target market important?
    What are the characteristics of a target market?The profile considers four main characteristics of that person: demographic, geographic, psychographic, and behavioral. A target market is a set of consumers who have been identified by their shared characteristics as the most likely potential customers for a product.
    How do you identify a target market?Identifying the target market is part of the process of creating and refining a new product. A target market can be translated into a profile of the consumer to whom a product is most likely to appeal. The profile considers four main characteristics of that person: demographic, geographic, psychographic, and behavioral.
     
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  5. WEBApr 22, 2024 · A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service....

  6. WEBMar 5, 2024 · A target market is a specific group of people with shared characteristics that a business markets its products or services to. Companies use target markets to thoroughly understand their potential …

  7. How To Define Your Target Market (7 Steps + Examples) - In …

  8. WEBMay 8, 2023 · A target market is a specific group of consumers who might be interested in a business’s products or services. A target market is a subgroup within the total market for a product or service.

  9. What is a target market and how to define yours

    WEBDec 7, 2023 · BUSINESS STRATEGIES. What is a target market and how to define yours. Rebecca Strehlow. Dec 7, 2023. 11 min read. One of the first steps in starting a business is determining your target market. This …

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  16. Target market - Wikipedia

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  18. Target market — definition, purpose, and tools - Adobe …

  19. What Is a Target Market? And How to Define Yours | Coursera

  20. What is Target Marketing? | Bplans

  21. What Is a Target Market? Definition, Examples and Importance

  22. Defining Your Target Market Using Social Media Data - The …

  23. 5.5 Selecting Target Markets - Principles of Marketing - OpenStax

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  25. Targeted Advertising: Definition, Benefits, Examples | Appinio Blog

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  27. How to Market to Your Target Audience | Barnes & Noble Press …

  28. Microsoft-backed Rubrik prices US IPO above range at $32/shr

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