Definition of Target Market

The concept of target market must be contextualized in the field of marketing and also in the sphere of entrepreneurship. The target market is understood as the profile of potential buyers. In other words, to whom a product or service is directed.

The target market tag is not the only one, since there are others such as target market, target audience, as well as some terms in English (target group or directly target).

The diversity of potential customers

The market is made up of a wide diversity potential customers and each customer sector has its own needs. This implies that a product or service is not addressed to all potential customers but only to a part of them. Marketing experts argue that targeting everyone or no one in particular is a formula that leads to failure.

Target market segmentation

To identify a segment of the population the set of individuals must be divided into groups or segments. To this process of classification It is called segmentation, that is, the grouping of potential customers according to a series of factors (geographical factors, demographics, by the levels of

income, by their lifestyles or according to their cultural expectations). All these variables are decisive to specify a target customer market.

To effectively target a target customer market, it is necessary to know the circumstances of each sector. For example, working women have little time and therefore need one type of food (ready-made and easy-to-make foods). If a company of feeding is established in Mexico, it does not have to ignore that Mexicans like spicy.

Keep in mind that each client look for something specific; Some seek quality service, others need affordable prices and there are those who value aesthetic aspects.

In a marketing study to define a target market it is necessary to incorporate very diverse variables: the psychological needs of consumers, the economic and social reality, the traditions of a place or fashion trends.

An example of what not to do when searching for a target market

Let's imagine a commercial clothing firm that wants to sell sexy, comfortable, conservative clothes, for girls and young people, for mature women and for athletes. Addressing this wide range of the population implies not having a identity own and this makes it difficult to develop a strategy successful marketing.

We could say that this strategy would be like firing shots from all sides.

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