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Market Segmentation

Market Segmentation. Market Segmentation. Identifying target markets and developing products that appeal to them 3 Ways Demographics – Personal characteristics of the population Age, Gender, Occupation, Income, Family Structure, Ethicity

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Market Segmentation

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  1. Market Segmentation

  2. Market Segmentation • Identifying target markets and developing products that appeal to them • 3 Ways • Demographics – Personal characteristics of the population • Age, Gender, Occupation, Income, Family Structure, Ethicity • Geographics – Characteristics of the targeted area; where it is? • Population, climate, avg age, size of area, business base, leading industry, economic climate • Psychographics – (Lifestyles) – How people spend their time and money. Pattern of behavior in their daily lives

  3. Target Market • Audience/group of people to whom you focus your product and advertising toward

  4. Customer Profile • Picture of your target market • Geographics, Demographics, Psychographics • Where? Age? Income? Occupation? Consumer vs. Industrial Market, etc.

  5. Sports Trends for Target Marketing • Changing demographics in viewership! • Growth in women’s interest in sports in the past 20 years • NBA increase of 70% (Men 10%) • NFL increase of 45% (Men 1%) • MLB increase of 40% (Men 7%) • NFL is now 40% female/60% male in viewership!

  6. Create the Profile • Search the Internet to determine the base target market for an NBA team • What trends have been reported related to the NBA target market? • Any new marketing approaches being implemented

  7. Women in the NFL • NFL is now the most popular sport among women surpassing NBA and MLB in 2010. • Average female attendance each week is 375,000 at the games; over 45 million watch on TV each week • Female have major purchasing power and decision making (more than 20 years ago) • The Family VALUES and time is impressionable among females

  8. NFL Trends • Base Target Market for NFL • Male – 25 to 54 • Expanding marketing to reach not only women but • Children ages 6 to 12 (partnership with Nickelodeon; Rush Zone: Guardians of the Core • Hispanics (Dallas, New York, Miami, California, and

  9. NFL’s New Approach for the Casual Fan • Standing Viewer Tickets – at Lower Cost • Dallas offered $29 tickets to stand and watch game!! • “Party Pass” Tickets

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