Difference between revisions of "Target Market"
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| − | A | + | A target [[market]] refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its [[marketing]] efforts. A target market is one part of the total market for a good or [[service]]. Consumers who make up a target market share similar characteristics including buying geography, buying power, demographics, and incomes. Identifying the target market is an essential step for any company in the development of a [[Marketing Plan|marketing plan]]. Not knowing who the target market is could cost a lot of money and time for a company.<ref>Defining Target Market [https://www.investopedia.com/terms/t/target-market.asp Investopedia]</ref> |
| + | |||
| + | ===See Also=== | ||
| + | *[[Market Analysis]] | ||
| + | *[[Market Cap]] | ||
| + | *[[Market Driven Organization]] | ||
| + | *[[Market Forces]] | ||
| + | *[[Market Research]] | ||
| + | *[[Target Market]] | ||
| + | *[[Product/Market Fit]] | ||
| + | *[[Product/Market Grid]] | ||
| + | *[[Marketing Effectiveness]] | ||
| + | *[[Market Maturity]] | ||
| + | *[[Marketing Strategy]] | ||
| + | *[[4S Web Marketing Mix Model]] | ||
| + | *[[5C's of Marketing Strategy]] | ||
| + | *[[7 Ps of Marketing]] | ||
| + | |||
| + | |||
| + | ===References=== | ||
| + | <references /> | ||
Latest revision as of 18:58, 3 November 2022
A target market refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its marketing efforts. A target market is one part of the total market for a good or service. Consumers who make up a target market share similar characteristics including buying geography, buying power, demographics, and incomes. Identifying the target market is an essential step for any company in the development of a marketing plan. Not knowing who the target market is could cost a lot of money and time for a company.[1]
See Also
- Market Analysis
- Market Cap
- Market Driven Organization
- Market Forces
- Market Research
- Target Market
- Product/Market Fit
- Product/Market Grid
- Marketing Effectiveness
- Market Maturity
- Marketing Strategy
- 4S Web Marketing Mix Model
- 5C's of Marketing Strategy
- 7 Ps of Marketing
References
- ↑ Defining Target Market Investopedia