{"id":4602,"date":"2016-04-04T10:47:36","date_gmt":"2016-04-04T15:47:36","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/business-operations\/your-target-market.html"},"modified":"2024-06-06T03:43:25","modified_gmt":"2024-06-06T08:43:25","slug":"your-target-market","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/business-operations\/your-target-market.html","title":{"rendered":"Your Target Market"},"content":{"rendered":"\n
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Your Target Market<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

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It’s important to remember that the focus of marketing is people<\/i>. If you’re concentrating your efforts on your product<\/i> or profit<\/i> only, you’ll miss the mark. The term target market<\/b> is used because that market — that group of people — is the "bull’s eye" at which you aim all your marketing efforts.<\/p>\r\n

So, don’t forget that a market is people<\/i>…<\/b> People with common characteristics that set them apart as a group. The more statistics you have about a target market, the more precisely you can develop your marketing strategy. The table below shows some examples of market segments (or groups):<\/p>\r\n\r\n
Type of Market Segment<\/b><\/th>\r\nShared Group Characteristics<\/b><\/th>\r\n<\/tr>

 Demographic Segment<\/b><\/p>\r\n<\/td>\r\n

Measurable statistics<\/b> such as age, income, occupation, etc.<\/p>\r\n<\/td>\r\n<\/tr>

 Psychographic Segment<\/b><\/p>\r\n<\/td>\r\n

Lifestyle preferences<\/b> such as music lovers, city or urban dwellers, etc.<\/p>\r\n<\/td>\r\n<\/tr>

 Use-based Segment<\/b><\/p>\r\n<\/td>\r\n

Frequency of usage<\/b> such as recreational drinking, traveling, etc.<\/p>\r\n<\/td>\r\n<\/tr>

 Benefit Segment<\/b><\/p>\r\n<\/td>\r\n

Desire to obtain the same product benefits<\/b> such as luxury, thriftiness, comfort from food, etc.<\/p>\r\n<\/td>\r\n<\/tr>

 Geographic Segment<\/b><\/p>\r\n<\/td>\r\n

Location<\/b> such as home address, business address, etc.<\/p>\r\n<\/td>\r\n<\/tr><\/tbody><\/table>\r\n

Here are examples of target segments that can be created using the above table:<\/p>\r\n