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A target market are the customers that a firm plans to reach with marketing efforts. Customers have different needs and respond to different messages. As such, target market has implications for brand identity, product development, design, customer experience, promotion, pricing and distribution. The following are common types of target market.
Affinities – things the customer likes e.g. animals | Age Group | Business Customers | Buying Behavior | Channel Preferences – e.g. prefers to buy online | Concern for Social Issues | Culture | Customer Expectations | Customer Needs | Customer Perceptions | Customer Preferences – e.g. preference for minimalist design | Demographics | Environmental Consciousness | Family Status | Hobbies & Interests | Household Type | Income Level | Language | Lifestyle | Location | Ownership – e.g. homeowners | Parental Status | Personality Traits | Price Sensitivity | Product Usage – e.g. backcountry snowboards | Profession or Occupation | Psychographics – how customers think | Purchase Frequency | Shopping Habits | Social Class | Subculture |
The following are guides that specifically relate to selecting a target market.
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