Target Market

A Target Market is a specific group of potential customers that a company has decided to aim its marketing efforts and ultimately its products or services towards. It's a broader concept than a Target Audience, which refers to the specific group targeted by a particular advertisement. The target market is defined by characteristics like Demographics, geographics, psychographics, and behavioral traits identified through Market Research and Market Segmentation. Understanding the target market is fundamental for developing effective product strategies, Brand Positioning, and overall marketing plans.