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Product Management vocabulary · Vision & Strategy

Target market

Meaning in product management, with examples

nounCommon term

In product management, target market means: The specific group of customers a product is mainly built and sold for, defined by things such as industry, company size, location or needs.

In Turkish: hedef pazar, hedef kitle

How it is used

Choosing a target market also means choosing who you will not serve, at least for now. Teams define, size and enter a target market. Related terms are TAM (total addressable market) and ICP (ideal customer profile).

Example sentences

  1. Our target market is dental clinics with fewer than ten employees.

  2. Before we add enterprise features, are we sure large banks are our target market?

Common collocations

  • define the target market
  • enter a target market
  • size the target market
  • core target market
  • customer segmentA group of customers who share similar needs, behaviors or characteristics, such as company size, industry or the way they use a product.
  • personaA realistic but invented profile of a typical user, based on research, that describes their goals, habits and problems so the team can design for them.
  • product strategyThe plan for how a product will reach its vision: which users and problems it will focus on, how it will win against alternatives and what it will not do.
  • go-to-market strategyThe plan for how a new product or feature will reach its customers: who it is for, and how it is priced, positioned, promoted and sold.
  • positioningHow a product is placed in customers' minds compared with alternatives: what it is, who it is for and why it is the best choice for them.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Vision & Strategy

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