Identifying Target Markets

Identifying Target Markets

Target market: the group of people the company wishes to sell its products to. Often a business will break down a market into smaller parts to focus on (market segmentation).

  • Primary target market is the main group of people to whom the product is aimed at, while the secondary target market is a smaller group who also buy the product.

There are three types of target markets:

  • Mass market
  • Market segmentation
  • Niche market

Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.