Identify the target market for a specific product or service.

Identification should involve defining target market and explaining the

  • benefits that the product or service can provide
  • needs and wants of potential customers
  • market segmentation (e.g., demographics and/or psychographics, location/schedule of potential customers)
  • number of customers in each potential market group.

Process/Skill Questions:

  • What is a target market?
  • What steps are involved in identifying a target market?
  • Why is it critical to understand the customer?
  • How can businesses reach different target markets simultaneously?