Market Targeting Law and Legal Definition

Market targeting refers to choosing an appropriate market for a given product. It is the process of identifying groups of consumers who are highly likely to purchase a specific good or service. Generally, businesses of all sizes engage in some form market targeting as part of their efforts to secure and maintain customers. Marketers of a given product evaluate the different market segments to decide which and how many to serve. It involves careful understanding of the wants and needs of the consumer as well as having a good grasp on how a given product or service can meet those consumer desires.