How do you define a target market?

A target market is a group of potential customers that you identify to sell products or services to. Each group can be divided into smaller segments. Segments are typically grouped by age, location, income and lifestyle.

What is a target market journal article?

Target market refers to the specific group of people to one is trying to sell your products or services. Journals contain articles that peer reviewed, in an attempt to ensure that articles meet the journal’s standards of quality, and scientific validity. …

What are the 4 types of target market?

Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types.

What should I know about target market journals?

Before one determines a target market, one should know the product and what it offers. One can target your marketing efforts to reach their most promising prospects and craft their marketing messages appropriately. A journal is a periodical publication intended to further progress of science, usually by reporting new research.

What does it mean to be in the target market?

Target market refers to the specific group of people to one is trying to sell your products or services. It aims few products at a specific type of person. Focusing on marketing takes time and effort, but that increases ones income in the long run. Before one determines a target market, one should know the product and what it offers.

How does the target market affect product sales?

Target Market and Product Sales. The target market is a central focus within a marketing plan that determines other essential factors for the product, such as distribution, price and promotion efforts. The target market also determines significant factors about the product itself.

Which is the first step in target marketing?

The first and the foremost step is to decide on the target market. The next step is to identify need and preference of the target market. It is essential to find out what the target market expects from the product. Once the target market is decided, organizations can decide on the various strategies helpful to promote their product.