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Target Market Analysis

Target market analysis is a critical process used by product managers to identify and understand the specific group of customers they intend to reach with their product. This involves researching the demographics, needs, preferences, and behaviors of this group to tailor the product’s features, marketing strategies, and sales efforts.

Example

At Spotify, product managers conduct target market analysis to understand the diverse needs of music listeners. They segment their audience by age, location, music preferences, and listening habits to offer personalized playlists and recommendations.