Businesses "target" a specifically categoried group of customers.
A target market is a specifically categorized group of consumers that a business "targets" when developing products/services and marketing strategies for its company.
Function
The purpose of a target market is to build the success of a company. While making products and services available to a vast and open market is fine, a business must target specific consumers in order to make themselves known.
Demographics
The demographic aspect of a target market includes basic information about the target consumers, such as age, gender, income/occupation and marital status.
Lifestyle
Lifestyle is a key factor in determining what target customers like. Some information in this section may include where the target market lives (urban or rural areas), hobbies, interests and extracurricular activities.
Frequency
It's also important to try and determine how frequently the target market will use the product or service. Specifically, businesses must determine if they're looking to target new customers or develop loyalty through repeat customers.
Desires / Needs
Businesses must discover what the target market needs and desires from their product/service so that it can appeal to those things through advertising and develop fresh ideas that address those specific needs and desires.
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