A target market is a market a company wants to sell its products and services to, and it includes a targeted set of customers for whom it directs its marketing efforts. Identifying the target market is an essential step in the development of a marketing plan.
Target Marketing involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments consisting of the customers whose needs and desires most closely match your product or service offerings.
It can be the key to attracting new business, increasing your sales, and making your business a success.The advantage of target marketing is that by aiming your marketing efforts at specific groups of consumers it makes the promotional your products and/or services easier and more cost-effective.It provides a focus to all of your marketing activities.
Social media platforms such as Facebook, LinkedIn, Twitter, and Instagram have sophisticated options to allow businesses to target users based on market segments.