fbpx

Target Audience vs Target Market: Key Differences in 2023

Last Updated:

When you are doing business, you, of course, are familiar with these two terms target audience and target market. You might have seen in different places that people often use these terms interchangeably, but have you ever thought that these terms are not the same at all? If you already have known it, you’re golden, but do you know all the key differences between them? Just read this blog “Target Audience vs Target Market: Key Differences in 2023” to get a complete idea of it and all other relevant details.

What is a Target Audience?

A target audience means a certain part of a greater group of individuals who are most prone to buy a service/product from your company. Your company must recognize and acknowledge your target audience during building marketing materials. It allows your marketing team to apply specific images, themes, or terms that will attract your target audience and which in turn, will increase sales. 

Generally, a target audience is a selected or smaller group of individuals, like marketers in a specific industry or employees of a particular company. For instance, if your company produces clothes, your target audience will include garments and boutiques.

What is a Target Market?

A target market indicates a huge group of individuals that you assume can be benefited from the offerings of your brand. They are the individuals who you anticipate will look for, identify, buy, and consume your services or products. Your target market will contain similar demographic attributes like age, gender, race, income, ethnicity, marital status, education, location, occupation, and the like.

Each of your marketing functions needs to focus on it and each marketing campaigns need to refer to it. You need to remember that the target market is quite broad. It might have a few demographic similarities but it’s quite a less-defined association of end users.

Target Market vs. Target Audience: How Can you recognize a Target Market from the Target Audience?

Here are a few differences between a target market and a target audience:

Point of DifferenceTarget MarketTarget Audience
1. DefinitionA target market indicates a huge group of individuals that you assume can be benefited from the offerings of your brand.A target audience means a certain part of a greater group of individuals who are most prone to buy a service/product from your company.
2. Group SizeThe definition suggests that here the group size is huge because it’s the total group of individuals.The definition suggests that here the group size is generally small because it’s a selected group of individuals.
3. ExampleWhen a dental equipment supply company targets to market or sell its products to a certain city, the city’s total population represents the target market.And groups such as dental clinics represent the target audience.
4. Probability of Completing a SaleAs the target market includes all prospects that your company wants to sell to whether they have any interest in your service/product or not, the probability of completing a sale is low. So, while creating marketing campaigns try emphasizing the general advantages of your product so that it seems helpful to a specific group other than your target audience.As the target audience generally includes consumers who can have a specific interest in your product, the probability of completing a sale is higher. So, marketers plan promotional elements that attract especially your target audience to enhance the selling chance even further.
5. Alternative UsersThe term target market is mostly used by marketing people, as the term generally only refers to consumer groups from the perspective of them, buying a product. People from other industries like business development and sales also use this term from the same perspective to describe the total consumer group in which they expect to buy the product.Alternative users of this term other than marketing, sales, and business development are the people in the publishing and entertainment industry. Target audiences in the publishing and entertainment industry mean gender groups, age groups, or fans of specific production companies or genres.
6. Decision-makingGenerally, the target market has an impact on the decision-making of business and marketing departments.The target audience plays a special role in the campaign decisions.
7. InclusionThe target market includes the target audience because it’s a subset of the target market.The target audience can’t include the total target market.
8. NumberYou have just one target market.But you can have various target audiences to use in various advertising and campaign strategies.

It’s clear from the above discussion, what are the differences between target audience and target market.

Final Words

Now, you must have become confident that the target audience and target market are not the same terms from my blog “Target Audience vs Target Market: Key Differences in 2023”. If you have further queries please check the FAQ section and if you want any digital marketing services like content writing, SEO services, local SEO services, social media marketing, Google Ads services, and app store optimization, please contact digiSocial.

Frequently Asked Questions

Market segmentation refers to a marketing strategy where selected consumer groups are recognized so that specific product lines or products can be shown or presented before them in such a way that matches their interests.

You can reach your target market and target audience in the following ways:

  • Focus on product features: Focusing on the product features can attract some members of your target audience, while also showing its value to your target audience.
  • Study other campaigns: Studying and researching other campaigns of similar products and services can offer you some concepts for the way to attract similar target audiences and target markets.
  • Apply multiple strategies: Using multiple promotional strategies can let you build materials, especially for your target audience and other components for your target market, making sure that you’ve considered all potential clients.
  • Recognize the overlap: Check areas or sectors where your target market and target audience overlap to recognize the marketing tactics that might be the best to appeal to both groups.

You can recognize a target market by doing the following:

  • Evaluate your services and products: At first, you need to check what you can offer. What are the problems that you can solve? Which people will benefit from those solutions? You can go to the following step after you’ve known which individuals will be interested in your offered products/ services.
  • Perform market research: Perform market research to know well about the people who you think will benefit from your business offers. Use marketing analysis tools to understand the digital outlook and cut down your market.
  • Research your competitors: Research your competitors thoroughly to understand who their clients are, what they are offering, and their marketing strategies. Use the information to understand your market type and try to find any gap where you can concentrate.
  • Make your profile of the target market: After you’ve known about your target market, create a target market profile to inform everyone in your company.

You can recognize a target audience by doing the following:

  • Test your client base: Before making a target audience, you need to have a target market. Test your present client base to find out a gap or room to break down that market into several parts based on demographic units like age, preferences, habits, occupations, and the like.
  • Find out who’s not your audience: You also need to know who’s not your audience because it helps you well to filter your marketing strategies, and stops you from messaging and targeting those who aren’t interested.
  • Study industry trends: Always be aware of the new industry trends so that you can focus and rectify your strategies accurately to attract your audience.
  • Make buyer personas: The buyer persona is an imaginary representation of an actual buyer and can let you document and segment your target audience within your target market.

Recognizing your audience lets your business focus investment and marketing efforts on the individuals or groups who are mostly interested to buy your product or services. Thus, you are creating business leads effectively, efficiently, and affordably.

If you have the exact target market, you can determine where you can find probable customers who are searching for your product or service. The target market lets you understand where you need to focus your marketing activities and what you need to offer that will be well-received and fascinating.

digiSocial Limited
Who We Are

We are digiSocial your own digital marketing partner in Bangladesh for building and growing your business.

Join our email list to get exciting offers and latest SEO News.

© 2022 digiSocial Limited. All rights reserved