Definition: A Target Market is a specific group of potential customers which you have identified who have needs or problems which your products or services can fulfill. The characteristics of this group include:
- The area this group inhabits, the area from which you can reasonably draw people into your business. For example, your target market might be on the Internet, or it might be within 2-5 miles of your business, or it might be the entire population of the city where your business is located.
- The Demographics (characteristics) of the people within this area who could be potential customers. This includes their age, sex, race, income levels, family status, education, occupation, home ownership, and other characteristics.
Understanding the location and demographics of your target market helpf you to focus your advertising and promotion efforts to reach these individuals.
