Why is a target market important?

Having the right target market helps you determine where to find potential clients who
are looking for what you have to offer. If you have a target market, you know where to
concentrate your marketing efforts and what to offer that is compelling and well
received.

What are the 5 target markets?

Five ways to segment markets include demographic, psychographic, behavioral,

geographic, and firmographic segmentation.

What is an example of target market characteristics?

Target markets are typically defined by a set of characteristics, which may

include: Demographic information, such as age range, marital status, and income level.
Geographic information, such as specific cities or zip codes. Psychographic information,
such as interests, values, and lifestyles.

What are the 3 target market strategies?

There are three different target market strategies you can implement – differentiated
marketing, concentrated marketing, and undifferentiated marketing. Learn the
differences and select the right strategy for your business