Target market:
A target market is a group of
customers that the business has decided to aim its marketing efforts and
ultimately its products towards.
Identifying the target market is
an essential step in the development of a marketing plan. A target market can
be separated from the market as a whole by geography, buying power as well as
by psycho-graphics.
Target market is a concept which
explains that every customer’s needs wants and demands are not the same. One
customer’s wants may be another customer’s demand. In addition, all customers
are not the same they vary in various aspects.
Identifying the target market
lays the foundation for developing the proper mix of marketing activities.
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