What is a target market example?

A target market is the segment of consumers most likely to want or need a business’s products or services. This group of people is a subset of the business’s total market. … For example, a children’s toy may have boys ages 9–11 as the target market and the boys’ parents as the target audience.

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.

How do I identify my target market?

Here are some tips to help you define your target market.
  1. Look at your current customer base.
  2. Check out your competition.
  3. Analyze your product/service.
  4. Choose specific demographics to target.
  5. Consider the psychographics of your target.
  6. Evaluate your decision.
  7. Additional resources.

What are the 4 types of target market?

There are four key types of market segmentation that you should be aware of, which include demographic, geographic, psychographic, and behavioral segmentations.

What are the types of target market?

What Is Targeting in Marketing?
  • Demographic segmentation: age, gender, education, marital status, race, religion, etc.
  • Psychographic segmentation: values, beliefs, interests, personality, lifestyle, etc.
  • Behavioral segmentation: purchasing or spending habits, user status, brand interactions, etc.

Who are target customers examples?

Gender and Age

Small businesses often target customers by gender or age. For example, a women’s clothing retailer directs its promotional efforts at women. Conversely, a large and tall men’s shop focuses its marketing efforts on tall and heavier men. Similarly, some small companies market to specific age groups.

How do you write a target market?

Write a target market statement

Write a target market statement that focuses on the most important audience characteristics you‘ve identified in your research. Your statement should include: Demographic information about your target market, such as gender and age. Geographic location of your target market.

What is primary target market?

Definition. Your business’s primary target market is a specific group of consumers you want to attract to your product or service. … If you decide to focus your marketing efforts on your main demographic, married women, they are your primary target market.

What is the difference between a market and a target market?

Market segmentation involves the entire market that is to be divided into groups based on similar characteristics. In contrast, target marketing involves a more defined specific group of individuals at micro level (i.e. the chosen market segment) to whom the products will be marketed and sold.

What are the 3 target market strategies?

The three strategies for selecting target markets are pursuing entire markets with one marketing mix, concentrating on one segment, or pursuing multiple market segments with multiple marketing mixes.


How do you write a target market for a business plan?

You can segment your target market along four key characteristics:
  1. Demographic: Who are your customers? Include information such as:
  2. Geographic: Where do they live? Include information such as:
  3. Psychographic: Why do they buy? Include information such as:
  4. Behaviouristic: How do they buy? Include information such as:

What are the 4 main consumer markets?

Primarily there are four types of consumer markets,
  • Food and beverages,
  • Retail,
  • Consumer products.
  • and Transportation.

What are the types of markets?

There are four basic types of market structures.
  • Pure Competition. Pure or perfect competition is a market structure defined by a large number of small firms competing against each other. …
  • Monopolistic Competition. …
  • Oligopoly. …
  • Pure Monopoly.

Which would be an example of a target group?

This group includes attributes, such as age, income, education, gender or geographic location. Using demographic data you can target your campaign for example at young people (eg. age 18-24), both female and male from towns with a population larger than 20,000.

What is the target market of a hotel?

A hotel’s target market is the specific subset of all hotel customers that a particular property tries to get business from. This could be business travelers for a hotel near an airport or conference center, and families on vacation for resorts in Orlando.

What is the first step in target marketing?

The first step in the S-T-P process is market segmentation. In this phase of the planning process, the business identifies the market potential or the total available market (TAM). This is the total number of existing customers plus potential customers, and may also include important influencers.

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