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What is a target market?

What is a target market? Here are some definitions.

Noun
  1. A group of people whose needs and preferences match the product range of a company and to whom those products are marketed
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Examples
The same bored target market that reduced irony to a one-liner gave the movie 'cultural icon' status.
Put all your energy into more profitable events that attract larger quantities of your target market.
This is likely to benefit consumers in the target market, but it will leave the original domestic firms with lower profits.
Her target market is the area's burgeoning community of British expatriates.
The shop is located close to its target market in downtown Calgary and holds flexible hours for its clients' convenience.
One of the primary reasons for the product's continued popularity is its target market.

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