Target market and target group are similar concepts in marketing, but they refer to slightly different things.
A target market is a broader group of people or organizations who have similar needs or characteristics and are likely to be interested in a product or service. For example, the target market for a high-end restaurant might be affluent individuals or couples who are looking for a luxurious dining experience.
A target group, on the other hand, is a more specific subset of the target market. It refers to the group of people or organizations that a particular marketing campaign or message is directed towards. For example, the target group for a social media ad promoting the high-end restaurant might be people living within a certain geographic area who have shown an interest in fine dining or luxury experiences.
In other words, the target market is the overall group of potential customers that a business wants to reach, while the target group is the specific segment of that market that the business is currently focusing on with a particular marketing effort.
Understanding the difference between target market and target group is important for businesses to ensure that their marketing efforts are effective in reaching and engaging with the right customers. By defining both the target market and target group, businesses can create more targeted and effective marketing campaigns that resonate with their intended audience.
