A target market is the specific group of consumers that a company's product or service is designed to serve — identified through market segmentation and selected based on size, accessibility, profitability, and strategic fit with the company's capabilities.
What Is a Target Market? A target market is the defined group of consumers most likely to purchase a company's product or service. Rather than trying to sell to everyone (an approach that wastes marketing resources and produces diluted messaging), target market selection focuses a company's efforts on the customers most likely to buy, buy repeatedly, and refer others. Defining a target market is the foundational step in all marketing strategy. Without it, product design, pricing, distribution, a