SEM1 3.01
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Transcript of SEM1 3.01
SEM1 3.01
• PI – Describe target marketing in sport/event marketing
Marketing Terms
• Market – the group of all potential customers who share common wants and needs – Ex: People that play video games
• Consumers in a Market:– Have the desire to make a purchase– Have a willingness to purchase a product– Have the financial means to make a purchase
Marketing Terms• Mass Marketing – single marketing plan to
reach all consumers (Everybody!)
– Ex: bottled water, foods, soda, phones
Mass Marketing
• Advantages • One message to a large
audience• One product for everyone• Less promotional cost• Less work
• Disadvantages • Single message may not
reach enough customers• Product may not appeal
to everyone
Marketing Terms
• Target Market – group of specific customers that a company desires to have as consumers– Have specific characteristics– Ex: BOYS that play video games
• Target Marketing – Businesses identify and select customers with similar wants and needs– Make products, goods, and services for these customers– Aim all advertising and marketing efforts at these
customers
Importance of target marketing • Potential Customers:– Who is buying?– What do they buy? – Why do they buy?
• Match the good or service with customer needs– Satisfy wants and needs
• Sports Marketing:– Targets those with disposable income
Target Marketing?
Target Marketing?
Marketing Terms
• Market Segmentation – dividing the entire market into smaller groups that share common characteristics
– What? . . . Creates a target market– Why? . . . Not all consumers are alike• Different wants, needs, and reasons for buying
– Focus products and marketing to a specific group
Marketing Terms
• Marketing Segments – groups of unique individuals that share common characteristics
People Who Play Video Games
Yellow: All video gamesBlue: Sports GamesRed: Role Playing GamesGreen: Military Games
Types of Market Segmentation
• Demographic– Based on consumer statistics and characteristics
• Geographic– Based on where the consumers live and work
• Psychographic– Based on what consumers do and like
• Behavioral– Based on why consumers buy a product
Demographic Market Segmentation
• Age• Generation– Baby-boomers (‘46 – ’64)– X (‘65 – ’76)– Y (‘77 – ’93)– Z (‘94 – ’04) techies
• Gender• Family size• Family life cycle
• Income– Disposable &
Discretionary • Occupation• Education• Ethnicity• Nationality• Religion• Social Class
Demographic Examples
Geographic Market Segmentation
• Location
• Size of Population
• Climate and Weather
Geographic Examples
Psychographic Market Segmentation
• Activities • Interests• Lifestyle• What a person likes to
do.
• Ex: Buying golf clubs because you enjoy playing golf
Psychographic Examples
Behavioral Market SegmentationBased on consumer behavior towards a product
• Benefits sought http://www.youtube.com/watch?v=trUrPbSKEZE
– What will the product do for me?• Usage Rate
– How often do they purchase?• Brand Loyalty• User status
– Potential, first-time, or regular buyer• Readiness to buy http://www.youtube.com/watch?v=3Wwo7PjI9aU
– Have to have it now!• Special Occasions http://www.youtube.com/watch?v=vRlerzla1CY
– Holidays, birthdays & other events that stimulate purchases
Behavioral Examples
Niche Marketing• Marketing directed towards a small
(underserved) group– Can have great results
• Examples:
Fisker Karma Hybrid Supercar
Lefties OnlyThe Specialty Shop for Left-Handed Golfers and baseball players.
http://www.youtube.com/watch?v=6RvyFFjP7RE