Identifying a target market involves several steps: 1. Market Research: Conduct thorough market research to gather data on consumer behavior, preferences, and demographics. 2. Segmentation: Segment the broader market into smaller groups based on factors like age, gender, income, location, and lifestyle. 3. Analysis: Analyze the segments to determine which ones align best with the company’s products or services. 4. Profiling: Create detailed profiles of the target segments, including their needs, preferences, and pain points.