What is “Target Market” meaning?

A target market is a particular segment of the population that a business aims to serve with its products or services. It’s an essential concept in marketing, as it allows businesses to tailor their efforts to meet the specific needs, preferences, and behaviors of this group, leading to more effective strategies and better results.

Example

"Our target market consists of tech-savvy millennials aged 25-35 who are interested in sustainable fashion and online shopping."

How is “Target Market” used in business?

In business, identifying a target market helps companies focus on the most promising consumer groups. By understanding the demographics, psychographics, and behaviors of their target market, businesses can craft messages and offers that are more likely to resonate and drive sales.

Pro Tip

Regularly reassess and refine your target market as customer preferences, trends, and the competitive landscape evolve. This helps ensure your marketing efforts stay relevant and effective.

Related Terms

Customer Segmentation, Buyer Persona, Market Research, Demographics