WHAT IS THE TARGET MARKET? MAIN FEATURES - CULTURE VOCABULARY - 2025

The target market is the specific market niche to which a message about a product or service will be directed, with the aim of convincing it to proceed with its purchase.

The target market arises after market segmentation; is one of the groups resulting from this procedure. Once that market is defined, we proceed to the positioning of the brand or product.

Another name that the target market receives is target, a word borrowed from English but widely used in the advertising field.

When a target market is selected, people with the same or very similar demographic and psychographic characteristics, as well as very similar tastes and needs, are brought together in the same group.

If advertisers do not select a target or target market, the positioning of the product or service is complicated since the information to be highlighted is not discriminated according to the tastes and needs of the potential buyer.

The notion of a target market is related to micro-marketing, in which advertising campaigns are targeted at very specific groups of customers.

Criteria for selecting a target market

The process of selecting a specific market is known as market segmentation.

Some of the criteria that are taken into account for this purpose are:

- Geographic location

- Age

- Sex

- Purchasing level and / or purchasing power

- Level of instruction

- Lifestyle

- Physicals conditions

- Musical preferences

- Conveyance

- Information and communication media consumption habits

This list could contain other elements, because it is about identifying as many traits as possible to know with certainty what, when and how to sell something to that group of people.

These criteria unite people, turn them into beings that communicate and understand each other, developing common habits. Thanks to this they can be considered a target market.

Process for choosing the target market

There are different ways of proceeding to choose the target market. Marketing strategist David Meerman Scott advises choosing your target market based on answers to questions such as the following:

- What are your goals and aspirations?

- What are your motivations?

- What is important to them?

- What are your problems?

- What are your favorite topics?

- What is your education or social background?

- What do you do? What do they do for a living?

- How much money do they earn?

- What influences your purchase?

- Are they men or women?

- How old are they?

- Where they live?

- Is there any limitation for them to buy the product?

To this list can be added any other question that helps to define much better the characteristics of that group of people who will be reached through advertising.

Market segmentation considerations

With the passage of time and advances in the fields of psychology and technology, market segmentation has become more sophisticated, as well as the way of interpreting data.

For example, targeting only by age can be risky today, because people can lead a lifestyle that is not associated with what someone at that age is conventionally supposed to do.

In addition, there are people who repeat, advance or skip stages of their lives. These subtleties must be taken into account at the time of segmenting because they affect the tastes, preferences and habits of individuals.

Importance of selecting a target market

Businesses cannot meet the demand of the entire population; then they resort to identifying that specific group of people whom they can meet their needs.

Defining a target market allows marketing efforts to be concentrated in a well-defined group, with very similar needs and purchasing habits. Furthermore, each product and / or service is made for a particular type of consumer.

There are product tests that are done before marketing it. These tests are carried out with “type” members of the target market that has been defined.

Among these tests, the focus group stands out, which is carried out to monitor what are the benefits of the product perceived by its potential buyers, in order to highlight these characteristics in the advertising messages. Also there you can detect the possible adjustments that need to be made.

This evaluation can continue even after the product is launched, so that the company can measure and understand the demand of its customers.

Another reason for defining a target market is that it affects the distribution, price, promotion and characteristics of the product itself.

Sometimes it happens that the refinement and delimitation of this target market are so good that the success of the product opens the doors to other markets.

References

1. Andrade, Nancy and others (2008). Market segmentation as a basis for the positioning of fast food franchises in the Maracaibo municipality. Multiciences, January-April, 91-104. Recovered from: redalyc.org
2. Entrepreneur (s / f). Target market. Recovered from: entrepreneur.com
3. Jiménez, Ricardo (2007). Target market concept. Recovered from: merk2meta.blogspot.com
4. Investopedia (s / f). Target market. Recovered from: investopedia.com
5. León, Fran (2015). Do you know what the "target market" is? Recovered from: merca20.com
6. Marketing and advertising (s / f). Target market. Recovered from: mercadeoypublicidad.com
7. Villalobos, Susana. Marketing and the client: Know your target market to increase your income! Recovered from: strategies-marketing-online.com