What is a Target Market?

A target market is a group of consumers or businesses with shared traits that are most likely to buy a product or service. Using a target market allows for companies and product teams to avoid generalization when it comes to building a product strategy.

Why is having a target market important?

Instead of having a broad, "everyone-is-my-market" approach, target markets allow teams to narrow their focus to the audience they are actually marketing and selling the product to. Focusing on that market’s specific needs and desires allows designs, content, and features to resonate better with customers. Not to mention, using a target market allows more realistic sales forecasts, since capturing 100% of the world as customers is not likely to happen.

Characteristics of your target market

There are four categories of characteristics that you can leverage to help shape your target market: demographic, geographic, technographic, and psychographic traits. These different types of data together will form the criteria or the soft requirements for being part of your target market. Here are some examples:

Demographics: age, sex, gender, family status, etc.
Geographics: region, biome, etc.
Technographics: mobile phone, internet provider, computer system, smart devices, etc.‍
Psychographics: attitudes, opinions, or perceptions

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Target Market