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Customized Entertainment

Customized Entertainment. Ch. 9.1. Customizing Products. Market Segment- A group of people who have the ability and the desire to purchase a specific product. First step in the marketing mix is collecting info about the largest market segment for the product

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Customized Entertainment

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  1. Customized Entertainment Ch. 9.1

  2. Customizing Products • Market Segment- A group of people who have the ability and the desire to purchase a specific product. • First step in the marketing mix is collecting info about the largest market segment for the product • Customizing-Changing a product to fit the needs or wants of a particular market • Example…in the 90’s CBS cancelled shows pop to women and families…attempt to attract a greater share of the young male audience

  3. Local T.V. American Style • Local television is generally considered of amateur quality and of no interest to viewers nationally. • Barry Diller, head of USA Networks has other ideas for local TV • Begun a new format of locally produced programming featuring talk shows with ties to local sports, newspapers etc… • The shows are made at a fraction of the cost, so a much smaller audience is required to make a profit. • Can then be duplicated in other local markets or sold nationally

  4. Continued • For local programming to be successful, knowledge of the interest of the market segment is required. • What are some benefits of marketing to a small audience rather than the masses? • Can you think of any examples in Lincoln?

  5. Marketing to Baby Boomers • One of the best known market segments is the Baby Boomers • The generation born in the United States between 1946-1964 • 76 million will reach their peak spending at age 46 • Boomer spending began in 1993 and continued to grow into 2008. • This is when the number of 46 year olds began to decline

  6. Boomers Won’t Retire • Baby Boomers are expected to soften the line between complete retirement and work. • Many will continue to work beyond normal retirement age, and others will serve as volunteers or will work part time or both. • Baby Boomers are expected to stay active throughout their lives • This group enjoys recreational activities and all types of entertainment. • Most important, these consumers have the discretionary income to pay for the pastimes, products, and services.

  7. Segmenting the Group • Plans for an entertainment product are developed after careful examination of available research about the market segment. • Knowledge of customer’s preferences, spending habits, incomes, occupations, and areas of residence can provide info necessary to focus the marketing message • Marketers must be careful in creating target markets for a group as large as the Baby Boomers. • The average age in the U.S. was 34 in 1994, 35.5 in 2000, and will be 39.1 in 2035

  8. Understanding All parts of the Group • Must be careful to not exclude a part of the group you want to reach. • To assume all people in a group as large as the Baby Boomers have the same tastes in entertainment is a major mistake • A message aimed at a subgroup of Boomers offer a huge potential customer base. • Boomers will continue to be a major target of entertainment through 2020

  9. TV Assignment • http://www.americantowns.com/ne/lincoln-information#data

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