Definition of Target market

MONASH Marketing Dictionary
Target Market
the group whose needs and wants the company wishes to satisfy.

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Target Market definition was found in categories: Business & Finance(2)  Encyclopedia(1)  

Target Market Definition from Business & Finance Dictionaries & Glossaries

Raynet Business & Marketing Glossary
Target Market
the segment of a market at which an offer is directed (see customer profile).

Sean_Woo's Finance,GIS & Real Estate Glossary
target market
a defined group most likely to buy a firm's product
Note: As environment changes, some new customers join in and become part of the target market; while others drop out.


Target Market Definition from Encyclopedia Dictionaries & Glossaries

Wikipedia English - The Free Encyclopedia
Target market
Target market is, in marketing, the market segment to which a particular product is marketed. It's often defined by age, gender, geography, and/or socio-economic grouping.

Targeting strategy or targeting is the selection of the customers you wish to service. The decisions involved in targeting strategy include:

  • which segments to target
  • how many products to offer
  • which products to offer in which segments
There are three steps to targeting: Targeting strategy decisions are influenced by:
  • market maturity
  • diversity of buyers' needs and preferences
  • strength of the competition
  • the volume of sales required for profitability
Targeting can be selective (eg.: focus strategy, market specialization strategy or niche strategy), or extensive (eg.: full coverage, mass marketing, or product specialization).

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