How to define target.position in Vector3.MoveTowards?

So I'm looking at http://docs.unity3d.com/Documentation/ScriptReference/Vector3.MoveTowards.html but I do not understand how to define target.position. I want to move the object in it's Y axis +1 but I don't know how. Edit, this is what I have: Vector3 TargetPosition = new Vector3(0, 1, 0); Vector3.MoveTowards(transform.position, TargetPosition, JumpMovementSpeed * Time.deltaTime);