What Is a Target Market?

By Lois Leonard

0 min read

A target market is a clearly defined group of people most likely to patronize your business. Target markets have specific age ranges, genders, educational backgrounds, professions and geographic locations. If you run a coffee shop in an area with a robust co-working scene such as downtown Toronto, for example, your target market might be millennials who work for startups and earn a specific amount of income. Businesses that identify their target markets have a better chance of creating marketing messages that resonate with them. Understanding specific details about your potential customers also allows you to offer products and services they’re anxious to buy, so you can build client relationships.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

How to Develop a Marketing Strategy to Draw New Clients to Your Accounting Firm

Attracting and developing relationships with clients is critical to the success of…

Read more

How to Calculate Your Hourly Rate When You're an Independent Contractor

When you’re starting out as a freelancer, one of the biggest challenges…

Read more

Tips for Accountants to Consider When Managing Their Accounting Practice Finances

If you’re an accountant with your own practice, you also have to…

Read more