What is a "target market"?

What is a "target market"?

William A. Cohen (Author & Founder, Institute of Leader Arts) gives expert video advice on: What are the steps involved in market research?; What are tips for designing a survey? and more...

Target market are those folks that you are eventually going to sell to, whether it's a service or whether it's a product. Because the market is not all the same. I mean, sometimes you've heard people talk about the mass market, but even in the mass market there's a seperate mass market for books. Well that's not so. There are people who don't read. You're not part of the mass market. So that's a segment even though it's a much, much larger segment. But if you really want to make money, and I'm sure we do as an enterpreneur, we want to pick a segment that's most likely to respond to a product or service that you're offering. And that's who you want to market to, and that's your target market. You aim at them, it's just like a target. That's your target market.