What is referred to as the group of individuals most likely to buy a product?

The term that describes the group of individuals most likely to buy a product is known as the target market. This concept is rooted in understanding consumer behavior, demographics, interests, and purchasing habits. The essence of identifying a target market is to focus marketing efforts on those who show the highest propensity to purchase, ensuring that marketing messages resonate with the intended audience, which ultimately increases the efficiency and effectiveness of advertising efforts.

This concept is critical for businesses as it helps in resource allocation, messaging, positioning, and product development tailored specifically to meet the needs and desires of that particular group. A well-defined target market allows brands to stand out in a crowded marketplace by appealing directly to specific consumer segments.

Market segmentation, while relevant in the broader context of defining target markets, refers to the process of dividing a larger market into smaller, identifiable segments that can be targeted more effectively. The target audience is sometimes used interchangeably but usually refers to a specific subset within the target market that is actively engaged or targeted for a specific campaign. A creative brief is a document that guides the creative process but does not define the audience itself.