1 / 15

3.01

Target Markets. 3.01. Having a Successful SEM Event. Satisfy customer wants Interested in event Willing to pay ticket price Willing to travel to location. Terms. Market: The group of potential consumers who share common needs and wants

rock
Download Presentation

3.01

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Target Markets 3.01

  2. Having a Successful SEM Event • Satisfy customer wants • Interested in event • Willing to pay ticket price • Willing to travel to location

  3. Terms • Market: The group of potential consumers who share common needs and wants • Target Market: The group of consumers that a company desires to have as customers • Mass Marketing: A single marketing plan used to reach all consumers • Niche Market: smaller group of the target market that a business can select to market goods and services

  4. Cons Spend $$ reaching outside target market Can’t tailor message to different segments Pros/Cons of Mass Marketing • Pros • Reach broad audience • Consistent message

  5. Market Segments • Market Segments: different groups of customers with one or more shared characteristics • Market Segmenting: Dividing the entire market into smaller groups (of people) who share similar characteristics. • Allows businesses to customize products and marketing strategies

  6. Cons May miss part of segment Requires extra time to tailor message to market Pros/Cons of Market Segments • Pros • Able to target message • Able to target media

  7. Appealing to Target Markets in SEM • Interested in SEM products • Have disposable income to spend

  8. The Increase of Segmented Markets • Increasingly fragmented media • Cable/satellite TV • Web sites • Magazines • Increasingly fragmented products

  9. Demographic segmentation • Segmenting the market based on personal characteristics such as age, gender, income, ethnic background, education and occupation. • Example: middle class, males, ages 20-40, who are construction workers.

  10. Gender (M/F)EthnicityEducation levelIncome level Market Segments • 2-1212-1718-2418-3418-4925-5455+

  11. Geographic segmentation • Segmenting a market based on where a person lives. Geographic segmentation can refer to local, regional, national or global markets. • Example: A small local store will segment to the surrounding area like a town, while big companies like Nike market internationally.

  12. Value of Geographic Segmentation • Limit marketing expenses to target consumers who live within certain area

  13. Psychographic segmentation • Segmenting the market based on values, attitudes and lifestyles. • Example: People interested in professional football.

  14. Psychographic Segmentation • Limit marketing expenses to customers that behave with an inclination to buy your product

  15. Behavioral segmentation • Dividing consumers into groups according to their response to a product. Behavioral segmentation divides markets into groups based on what they are looking for in a product and why they buy the product. • Example: Purchasing Nike shoes because Michael Jordan wears them.

More Related