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- A target market is a group of people that have been identified as the most likely potential customers for a product1. A target market is defined by shared characteristics, such as age, income, and lifestyle, that affect their buying behavior and preferences1. A company can use demographic descriptions to specify its target market, such as college students with a part-time job, women ages 40–50 who are employed full time, or retired men who are married without children2.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A target market is a group of people that have been identified as the most likely potential customers for a product because of their shared characteristics, such as age, income, and lifestyle. Identifying the target market is a key part of the decision-making process when a company designs, packages, and advertises its product.www.investopedia.com/terms/t/target-market.aspHere are a few examples of demographic descriptions of your target market:
- College students with a part-time job
- Women ages 40–50 who are employed full time with a yearly income of at least $60,000
- Retired men who are married without children
www.indeed.com/career-advice/career-developme… - People also ask
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A target market is the specific group of people you want to reach with your marketing message. They are the people who are most likely to buy your products or services, and they are united by some common characteristics, like demographics and behaviors. The more clearly you define your target market, … See more
Target market segmentation isthe process of dividing your target market into smaller, more specific groups.It allows you to create a more relevant marketing message for each group. Remember — you can’t be all things to all people. But you can be different … See more
- Step 1. Compile data on your current customers
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- Step 2. Incorporate social data
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