SERM #41

TARGET MARKET

TARGET MARKET

…a specific group of people that a business wants to reach

Market Segmentation: “dividing the total market into smaller groups of people who share specific needs & characteristics”

MARKETING SEGMENTATION

Demographics – personal characteristics

Geographics – where people live

Psychographics – lifestyle (attitudes/values)

MARKET SEGMENTATION

CONSUMER

Demographic Psychographic

Geographic

Demographics: “statistics that describe a population in terms of personal characteristics”AgeRaceGender Income level

Used to describe Target Market

DEMOGRAPHICS

Geographics: “based on where people in the market live”LocalRegionalNationalGlobal

GEOGRAPHICS

Psychographics: “studies of consumers based on social & psychological characteristics”AttitudesValuesLifestyles

PSYCHOGRAPHICS

Describe the Target Market for your Fantasy Football teamBe specificConsider:

DemographicsGeographicsPsychographics

Answer break-out questions

ACTIVITY