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- 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 › tTarget Market: Definition, Purpose, Examples, Market Segments
Apr 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....
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Mar 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 customers and craft marketing strategies that help them meet their business and marketing objectives.
Oct 5, 2022 · 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.
Dec 21, 2023 · A target market is a distinct customer group with shared characteristics such as demographics, income, lifestyles, or behaviors and is a subset of the total market for a product or service. It is regarded as the most likely potential customer for a business, maximizing the profitability and success of its marketing efforts.
What is a target market? A target market is a subset of the audience you’re aiming to reach (your market). It is made up of a group of customers that have one or more commonalities between them and are most likely to be interested in your products. These commonalities might be:
A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.
Aug 16, 2022 · A target market is the ideal group of prospective customers for a specific product or service who share common characteristics that influence their buying behaviors. A business will promote its product or service to the target market from which the organization may generate the greatest profitable action, thus achieving the goal of marketing.
