marketing
Target Market
The specific group of customers you focus on serving.
Definition
A target market is the specific segment of customers a business chooses to serve. It is narrower than the total available market. Sharp targeting (a defined industry, company size, role, problem) lets you tailor product, messaging, and channels. Broad targeting ('any small business') makes everything generic and competition fierce. Sharpest test: if you can name 50 specific companies in your target market, your targeting is real. If you can't, it's still too vague.
In your business
- →Name 50 specific companies in your target market - if you can't, it's not specific enough
- →Different targets need different messaging - don't try to serve all of them with one website
- →Re-evaluate target market every 1-2 years - businesses drift toward less-profitable segments without realizing