You must first find your leads and then funnel them down until you find your prospects. Once you final your ideal prospects they will be your ideal target market.
@Jorge Zepeda - It all starts with what problem are you solving. Who is most likely experiencing the pain that your solution resolves?
Your marketing and sales copy should be specific, targeted, and relevant.
For example, if your product is a sales engagement tool to help automate messaging that's a broad market.
What if we made it more specific: Sales engagement tool —> For Enterprise SaaS Companies —> Specifically for BDR's in their first year of work.
Start with the pain your product solves and work backward from who is most likely experiencing that pain.
The easiest way to identify your target market is to do your research and figure out what the demographic is. Demographics will explain who your buyer is and then it is easier to figure out why they buy.
Another potential way to identify your target market is to intertwine personal relevance to your brand. So finding prospects that fit how you are approaching your market or look at the market and see if they seem to have had the same problems that you had prior to finding your solution/product/etc.
The first step is market research on the demographic and psychographics of potential customers in an area or on specific websites. Followed by creating a customer profile based on the data you've collected. After that, segment your audience based on characteristics. Once you've completed these steps you can survey these groups and find potential differences for your product to help it stand out.
The best way to find your target market is first find out who you want to sell to so you can work on marketing towards that group of people.
The best way to find your target market would be to conduct an features, benefits, needs (FBN) analysis of the area that you are trying to sell in. This will help in finding the needs of your target audience and how to best present your product to them.