What term refers to specific customer groups that a company aims to sell a product to?

The term "target market" specifically refers to the defined group of consumers that a company aims to reach with its marketing efforts and product offerings. Understanding a target market involves analyzing various factors related to the consumers, such as their preferences, behaviors, and needs. By identifying this group, companies can tailor their products, messaging, and marketing strategies to effectively meet the desires and expectations of those potential customers. This focus helps ensure that resources are utilized efficiently and that marketing efforts yield the highest return on investment.

While "customer base" refers to the overall group of current customers who purchase from a business, and "market segment" refers to the broader categorization of consumers into groups with shared characteristics, the target market is more about the specific subset that a company chooses to focus on for its sales efforts. "Consumer demographic" relates to the statistical data of consumer populations but does not precisely capture the notion of targeting a specific group for sales.