Targeting your audience has two major components: the identification of those markets that are interested in your product/service and positioning yourself to get your message to those markets.

When it is not clear which markets might be appropriate, you need to look at your product/service and hypothesize potential markets, analyze your current customers so that you can look for similar prospects, ask the market by doing some form of market research, and take into consideration what your competition is doing and who they are directing their marketing efforts towards.