The target market of a company is the segment to which it directs its products and services and the different promotional and brand outreach Svalbard and Jan Mayen Islands Email Lists messages .
Although its explanation seems simple, it is a really complex element with great potential, from which Digital or traditional Marketing strategies , new product development parameters and many other aspects of a business emerge .
This concept is directly related to that of the target audience , although there is a small – and at the same time substantial – difference between the two.What separates these factors is breadth. The target market has a much broader focus on marketing , so it should be taken into account as the starting point of a business project and included in the business plan.Specifically, it refers to a broad set of individuals who share certain characteristics and needs, which make them potential clients .Meanwhile,
the target audience is a segmentation of that market , which helps to specify who can be considered potential buyers of a certain product or service.For example, in its conception of the business, a culinary training institute may target people from a certain region who are passionate about cooking, with a specific level of economic capacity and a predefined age range.Then, this company could segment target audiences for each of its training alternatives.For example, for graduates, I would define professional cooks and, in general, people with experience in the area as potential clients, while for basic courses I would take as a reference young people and adults without a track record and who are looking to change their work environment. .
In turn, the target audience can be defined with a much more specific profile: the buyer persona . It is a semi-fictional representation of the ideal customer of a brand or some of its products or services.In general terms, we can say that the target market is a broad and primary concept for business development and marketing , from which specific and secondary (but no less important) concepts emerge, such as the target audience or the buyer persona.