Target market and target audience?

[Sirius Black]

Hey, can someone describe to me what the diffference between these two are.
I'm doing business work and part of my project was to make a gym and a website for it and I have to write a description describing the target market.

Is it the age group the business is aimed at? Or is it like the type of genre it is?

[Scott]

A target market is a specific, well-defined segment of consumers.

The term "target audience" is a bit narrower; it refers specifically to the group of consumers targeted by advertisements.

[Industry]

both terms are related to each other.

When you start a new business first you need to target market. You have to think that which market is the best for your business. Once you choose your targeted market you will definitely get targeted audience for your business.

So first step is to identify your target market than it will automatically take your business to targeted audience.