The elements of an ideal target market

• Substantial The chosen target market of the business should be big enough as to its quantity and/or total consumption capability.

  Example: Apple Inc. is a real-life example of a company with a substantial target market. With its range of products, such as iPhones, iPads, MacBooks, and Apple Watches, Apple has successfully captured the attention of a wide consumer base. It includes tech enthusiasts, professionals in various industries, students, and even older adults who appreciate the simplicity and reliability of Apple products.
• Financially capable The chosen target market should have the financial capabilities to pay for the purchase price of the product or service.
• Reachable -The chosen target market should be within reach to distribute the product. It must also be within reach of the various marketing activities (e.g., advertising, promotions, digital marketing.
• homogenous market ensures that marketing activities are efficient and effective. The chosen target market should be reacting similarly to specific marketing stimuli. Marketers utilize various marketing stimuli using the five (5) senses to attract, persuade, or retain the target market's loyalty.

  Example: Nike's branding and advertising campaigns are centered around inspiring and empowering athletes, making their target market clear and focused. This narrow focus allows Nike to tailor its products, messaging, and distribution channels to its target customers,