Target market

A target market is the market segment which a particular product is marketed to. It is often defined by age, gender and/or socio-economic grouping.

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

  • how many segments to target
  • 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
  • the company's size
  • 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).


see also: marketing, market segment, positioning, Crossing the Chasm

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