Target market is defined by geographical boundaries and industry types whereas Target audience is more specific which has the below attributes:
Age
Gender
Education Background
Is the individual a decision maker
Buying capacity
Where does the user spend most of his/her time (social media etc)
Common objections
and much more
Target audience can be referred to as Personas.
HubSpot provides a free tool to create users personas. Create your personas using the below link:
https://www.hubspot.com/make-my-persona
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