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SEM 3.01 & 3.02

SEM 3.01 & 3.02. TARGET MARKETING & MARKET SEGMENTATION ADVERTISING MEDIA IN S/E INDUSTRIES. TARGET MARKET - DISPOSABLE INCOME. Disposable income is the amount of $$$s people have to spend, or dispose of, AFTER they have paid their taxes; also called discretionary income.

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SEM 3.01 & 3.02

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  1. SEM 3.01 & 3.02 TARGET MARKETING & MARKET SEGMENTATION ADVERTISING MEDIA IN S/E INDUSTRIES

  2. TARGET MARKET - DISPOSABLE INCOME • Disposable income is the amount of $$$s people have to spend, or dispose of, AFTER they have paid their taxes; also called discretionary income. • Appealing to customers who have disposable income is an important part of target marketing in the SEM industry because the products associated with this industry are NOT necessary for life. They are the types of goods and services that people buy after they pay for the necessities.

  3. DISPOSABLE INCOME • For example, people pay for housing and food before they consider whether they can afford to attend a professional baseball game, play a round of golf, or buy a new tennis racquet. If people do not have the money to spend on these products, they will not buy them. • Therefore, target marketing should include appealing to potential customers who have disposable income as well as an interest and desire to buy sports and entertainment products.

  4. TARGET MARKET - DEMOGRAPHICS • Demographics are the physical/social characteristics of the populations and includes info. such as age, gender, income, education, etc. • Demographics is an important factor to consider when targeting customers for a specific event because different types of events appeal to different people. Certain groups of people are more likely to attend one type of event than another.

  5. TARGET MARKET - DEMOGRAPHICS • For example, an event that appeals to senior citizens might not appeal to teenagers, or an event that appeals to women might not appeal to men. For an event to be successful, the right demographic group needs to be targeted.

  6. SATISFY CONSUMER’S WANTS • Wants are desires for something. Sports/entertainment events must satisfy the wants of consumers in order to be successful. If consumers are not interested in the event, are not willing to pay the price of admission, or do not like the location, they will not attend. • Event marketers must make sure that they understand what consumers want in order to plan sports/entertainment events that will be successful. If events are successful, they usually earn profits and generate favorable press. • Events do NOTneed to promote popular causes in order to be successful because consumers usually attend events to be entertained.

  7. TARGET MARKET - NICHE • A niche market is a smaller group of the target market that a business can select to market goods and services. • Demographics are characteristics such as age, gender, income, and education. They do NOT include being sports-minded or living in Orlando.

  8. TARGET MARKET – YOUNG MEN • Extreme sports are most popular among young men, ages 12 to 34. Those events would appeal to that age group and bring in revenue from a coveted market segment. • Promoters of an extreme-sports weekend event would develop promotions to appeal to young men in that age group. • Professional athletes, older men, and business executives are less likely to be interested in participating in extreme sports.

  9. MARKET SEGMENTATION • Is the division of a total market into smaller, more specific groups. Sport/event marketers often segment markets on the basis of psychographics, which considers factors such as lifestyles. • Lifestyle characteristics include how people spend their $$$$s and what they do in the. g, hobbies). Hobbies might include participeir spare time (ating in certain sports such as biking, skiing, and swimming.

  10. MARKET SEGMENTATION • Demographic segmentation considers various physical and social characteristics of the market—age, gender, income, and education. (Fashion shows for ladies) • Geographics segments a market on the basis of location. (Surf boards for Florida Coast)

  11. ADVERTISING - ENDORSEMENT • An endorsement is approval by a reputable external source. If a company pays an athlete to appear in an advertisement, it is a celebrity endorsement. • Endorsements are a form of advertising because the celebrity is promoting a product. Endorsements are a common form of advertising in the sport/event industry. • For example, an ad for NIKE featuring Tiger Woods is an endorsement.

  12. PROMOTIONAL MESSAGES • Broadcast is promotional media such as radio and television. • A testimonial is a statement by an identified user of a product proclaiming the benefits received from the use of a product. • Promotion is a marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome.

  13. PROMOTION - SIGNAGE • Businesses that want to create associations with certain sports often place advertising messages on stadium scoreboards, dasher-boards, and banners. These forms of advertising are highly visibleto spectators attending the sporting event. • By placing large banners in the stadium, advertisers not only have event-long spectator exposure to their names and products, but exposure to a broadcast audience if the game is televised.

  14. PROMOTION - SIGNAGE • For example, if a business pays to place a banner on an outfield fence during a televised baseball game, the television audience has an opportunity to see the banner several times. Tide sponsors a racing team. It has been determined televised races offer the most exposure for a product/service due to the # of laps made by a car. • Repetitive or long-term exposure increases the business's chances of making associations with the sport or team and itself.

  15. OTHER PROMOTION OPTIONS • Other options such as opt-in e-mail, contests and newspaper ads may create positive associations; however, they often reach a smaller audience and with limited exposure opportunities.

  16. ADAPT MESSAGES FOR EACH MARKET • When a performer enters a foreign market, s/he must understand the culture and customs of the market. Because the performer wants to sell his/her services to these untapped markets, s/he does not want to OFFEND potential customers with inappropriate language or translations, symbols, attire, etc.

  17. ADAPT MESSAGES FOR EACH MARKET • Therefore, the performer needs to make sure that the promotional messages do not offend each market that the performer is trying to attract, which may involve adapting or changing those messages.

  18. REVIEW

  19. 32. An important part of target marketing in the sports/entertainment industry involves appealing to potential customers who have • A. Past experience • B. Athletic ability • C. Leisure time • D. Disposable income

  20. 32. An important part of target marketing in the sports/entertainment industry involves appealing to potential customers who have • A. Past experience • B. Athletic ability • C. Leisure time • D. Disposable income

  21. 33.Which of the following is a factor that S/E marketers consider when targeting customers for a specific event: • A. Personalities • B. Demographics • C. Expectations • D. Affiliations

  22. 33.Which of the following is a factor that S/E marketers consider when targeting customers for a specific event: • A. Personalities • B. Demographics • C. Expectations • D. Affiliations

  23. 34.What should a S/E event do in order to be successful? • A. Earn maximum profits • B. Generate favorable press • C. Satisfy consumer wants • D. Promote popular causes

  24. 34.What should a S/E event do in order to be successful? • A. Earn maximum profits • B. Generate favorable press • C. Satisfy consumer wants • D. Promote popular causes

  25. 35.Males between the ages of 18-35 who are sports-minded and live in Orlando, Florida is an example of a: • A. Niche market • B. Demographic characteristic • C. Sponsor • D. Marketing Mix

  26. 35.Males between the ages of 18-35 who are sports-minded and live in Orlando, Florida is an example of a: • A. Niche market • B. Demographic characteristic • C. Sponsor • D. Marketing Mix

  27. 36. The promoters of an extreme-sports weekend event would most likely target which of the following markets: • A. Professional athletes • B. Older men, ages 40 to 50 • C. Business executives • D. Young men ages 12 to 34

  28. 36. The promoters of an extreme-sports weekend event would most likely target which of the following markets: • A. Professional athletes • B. Older men, ages 40 to 50 • C. Business executives • D. Young men, ages 12 to 34

  29. 37. When a sports marketer considers factors such as lifestyles and interest levels, she/he is segmenting a market on the basis of: • A. Gender • B. Demographics • C. Geographics • D. Psychographics

  30. 37. When a sports marketer considers factors such as lifestyles and interest levels, she/he is segmenting a market on the basis of: • A. Gender • B. Demographics • C. Geographics • D. Psychographics

  31. 82. What form of advertising involves a company paying an athlete to appear in a television commercial or newspaper ad? • A. Endorsement • B. Testimonial • C. Promotion • D. Broadcast

  32. 82. What form of advertising involves a company paying an athlete to appear in a television commercial or newspaper ad? • A. Endorsement • B. Testimonial • C. Promotion • D. Broadcast

  33. 83. A business wants to create or emphasize positive associations between a specific sport and itself. What type of advertising media should the business consider using? • A. Stadium signage • B. Opt-in e-mail • C. Contest • D. Newspaper

  34. 83. A business wants to create or emphasize positive associations between a specific sport and itself. What type of advertising media should the business consider using? • A. Stadium signage • B. Opt-in e-mail • C. Contest • D. Newspaper

  35. 84. When a performer expands into international markets, an important consideration for his/her promotional efforts is that it is often necessary to • A. Assume that literal language translations are acceptable • B. Use the same advertising strategies with all markets • C. Develop different brands for each market • D. Adapt promotional messages for each market

  36. 84. When a performer expands into international markets, an important consideration for his/her promotional efforts is that it is often necessary to • A. Assume that literal language translations are acceptable • B. Use the same advertising strategies with all markets • C. Develop different brands for each market • D. Adapt promotional messages for each market

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