A common google question
A market is the entire group of people who may have an interest in a product or service. It includes everyone who may purchase a product or service, regardless of whether they actually do.
A target market, on the other hand, is a specific group of consumers within a market who are more likely to purchase a product or service. Companies use market research to identify which customers are most likely to purchase their product, and market to this specific group. Target markets are typically identified by age, gender, location, income level, and other factors.
Think of it this way!
Markets are like a large crowd of people, while target markets are like the individuals in that crowd that you’re most likely to have success with.