What are the Characteristics of a Good Target Market?
A good target market should have the following characteristics:
Clearly Defined: The market should be well-defined with specific criteria that distinguish it from other groups. Measurable: It should be possible to quantify the size and key characteristics of the target market. Accessible: The target market should be reachable through marketing and distribution channels. Substantial: The market should be large enough to be profitable and justify the investment. Actionable: There should be clear strategies that can be implemented to attract and serve the target customers.