Target Markets
The specific customers, either consumer or business-to-business, are identified and linked to products or services. The purpose is not to duplicate the forecast process but rather to define who it is and what programs are to be applied to each target area, consistent with the unique characteristics in each group.
Peterson lists a number of definitions used to classify or identify market groups.9 These are common to the discipline and are organized in order of importance. The top ten defin-itions are listed as follows.