Marketing3: Target Market Research

Target market research is an important tool to determine your products place on the existing market, and how it fits best to maximise potential. By using target market research, the marketing strategy can be optimised to target groups who are the most likely to purchase your product and become potential customers. (SurveyMonkey)

Primary and secondary data could be collected through direct interactions with your customer base such as reviews, past orders and feedback, and with the use of third party companies and trend analytics providers.

There are many ways to conduct target market research such as surveys, questionnaires, mailing lists, tools and analytics that track user interactions on social media and the web.

The aim of the target market analysis is to: 
-Identify the most valuable markets.
-Develop buyer personas.
-Find gaps in the market.
-Assess the viability of the product or service.
-Improve business strategy.

(BigCommerce)

Target market analysis: How to identify the right customers (no date) BigCommerce. Available at: https://www.bigcommerce.com/articles/ecommerce/target-market-analysis/ (Accessed: March 2, 2023). 

How to measure, understand, and influence buying behavior (no date) SurveyMonkey. Available at: https://www.surveymonkey.com/mp/target-market-analysis-why-it-matters-and-how-to... (Accessed: March 2, 2023).