Target Market

A firm’s target market refers to the limited group of individuals or businesses that a firm goes after or tries to appeal to at a certain point in time. The target market a firm selects affects everything it does, from the strategic resources it acquires to the partnerships it forges to its promotional campaigns.

It consists of a set of buyers who share common needs or characteristics that the company decides to serve. Market targeting can be carried out at several different levels.

Target market is the group of people toward whom an organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences.

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