Target market

A target market is the market segment which a particular product is marketed
to. It is often defined by age, gender and/or socio-economic grouping.

Targeting strategy is the selection of the customers you wish to service.
The decisions involved in targeting strategy include:

   * how many segments to target
   * which segments to target
   * how many products to offer
   * which products to offer in which segments

There are three steps to targeting:

   * market segmentation
   * target choice
   * product positioning

Targeting strategy decisions are influenced by:

   * market maturity
   * diversity of buyers needs and preferences
   * the company's size
   * strength of the competition
   * the volume of sales required for profitability

Targeting can be selective (eg.: focus strategy, market specialization
strategy or niche strategy), or extensive (eg.: full coverage, mass
marketing, or product specialization).

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