A target market is a specific group of people that a business markets its products or services to¹. They are the people who are most likely to buy your products or services, and they are united by some common characteristics, such as demographics and behaviors². Identifying the target market is important in the development and implementation of a successful marketing plan for any new product¹. The target market also can inform a product’s specifications, packaging, and distribution².

There are different ways to define a target market, such as:

• Demographic: These are the main characteristics that define your target market. Everyone can be identified as belonging to a specific age group, income level, gender, occupation, and education level¹.
• Geographic: This segment is increasingly relevant in the era of globalization. Regional preferences need to be taken into account¹.
• Psychographic: This segment goes beyond the basics of demographics to consider lifestyle, attitudes, interests, and values¹.
• Behavioral: This segment relies on research into the decisions of a company’s current customers. New products may be introduced based on research into the proven appeal of past products¹.

There are different strategies to increase a target market, such as:

• Advertising: Using paid media channels such as TV, radio, print, online, and outdoor to reach a large and targeted audience with a consistent and memorable message¹.
• Social media marketing: Creating and sharing engaging and relevant content that showcases the product’s personality, values, and benefits on social media platforms where the target audience is active².
• Content marketing: Producing and distributing valuable and informative content that attracts, educates, and entertains the target audience and builds trust and authority for the product².
• Influencer marketing: Partnering with influential people who have a large and loyal following on social media or other platforms and who can endorse or recommend the product to their audience².
• Public relations: Generating positive media coverage and publicity for the product by building relationships with journalists, bloggers, podcasters, and other media outlets².
• Referral marketing: Encouraging existing customers to refer new customers to the product by offering incentives, rewards, or discounts².