The central concept underpinning 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 below Target Market Determinations (TMDs) will describe the typical objectives, financial situation and needs of consumers in the target market, describe the product features, and explain why those features will meet consumers’ needs.