groups of customers within a large market who share common characteristics
Target market A target market is a group of customers within a business's serviceable available market that the business has decided to aim its marketing efforts towards. Target markets consist of consumers who exhibit similar characteristics (such as age, location, income, and lifestyle) and are considered most likely to buy a business's product or service.
Market (economics) In mainstream economics, the concept of a market is any structure that allows buyers and sellers to exchange any type of goods, services and information. The exchange of goods or services, with or without money, is a transaction.[1] Market participants consist of all the buyers and sellers of a good who influence its price, which is a major topic of study of economics and has given rise to several theories and models concerning the basic market forces of supply and demand. A major topic of debate is how much a given market can be considered to be a "free market", that is free from government intervention. Microeconomics traditionally focuses on the study of market structure and the efficiency of market equilibrium; when the latter (if it exists) is not efficient, then economists say that a market failure has occurred. However it is not always clear how the allocation of resources can be improved since there is always the possibility of government failure.