Aug 7, 2024 · What Is a Target Market? 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...

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.

Nov 21, 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.

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:

At its core, a target market refers to a specific group of potential consumers that a company desires to sell its products or services. These consumers are grouped based on shared characteristics. These can range from demographic attributes to geographic locales or even behavioral patterns.

Aug 16, 2022 · Target markets provide marketers an effective way to focus their activities on driving awareness, interest, desire, and action from the niche of prospective buyers most likely to find long-term value in the business’ solutions.

Mar 4, 2024 · At its core, the target market is the specific group of consumers at whom a product or service is aimed. It's about pinpointing who is most likely to benefit from what you're selling, thereby guiding where to direct your efforts in marketing and resources.

In this post, we’ll give you a target market definition, steps to define your target market, and tools to help you improve your marketing efforts. What is a target market? A target market is a specific group of potential customers who a business aims to reach with its products or services.

Target markets are segments of potential customers willing to spend money on products and services. In addition, each customer has a specific product choice and budget. Therefore, the company matches consumer demands with its offerings and …

Sep 4, 2023 · What is Target Market? Target market is a set of identified of customers which a company targets to sell its products or services. Target market helps companies identify the correct set of people, selling to whom would give the maximum profit to them.