Meaning of the word "Target Market" in English

What does "Target Market" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Target Market

US /ˈtɑːrɡɪt ˈmɑːrkɪt/
UK /ˈtɑːɡɪt ˈmɑːkɪt/

Noun

a particular group of consumers at which a product or service is aimed

Example:
Our new advertising campaign is designed to reach a younger target market.
Identifying the right target market is crucial for business success.