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Target Market Determination

Target Market Determination

The central concept underpinning Design and Distribution Obligations (DDO) is that of the target market.

Product issuers are obliged to:

  • identify a target market of consumers, and design products suitable for that target market, and
  • monitor consumer outcomes and review products to ensure that consumers are receiving products that are likely to align to their likely objectives, financial situation and needs.

Issuers and distributors must take ‘reasonable steps’ to ensure those products reach consumers in that target market.

The My Protection Plan Target Market Determination (TMD) describes the typical objectives, financial situation and needs of consumers in the target market, describes the product features, and explain why those features will meet consumers’ needs. Click here to view.