SEM1 3.01 A - Market Planning
description
Transcript of SEM1 3.01 A - Market Planning
![Page 1: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/1.jpg)
SEM1 3.01A - Market Planning
PE – Select target market appropriate for product/business to obtain the best return
on marketing investment
• PI – Describe the nature of target marketing in sport/event marketing
![Page 2: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/2.jpg)
Terms• Market – includes the group of all potential customers who
share common needs • Target market – group of very specific customers that a
company desires to have as consumers• Mass marketing – single marketing plan to reach all
consumers – Ex: bottled water • Marketing segments – groups of unique individuals that
share common characteristics• Market segmentation – dividing the entire market into
smaller groups that share common characteristics & to create a target market – niche market would be an example
![Page 3: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/3.jpg)
The importance of target markets to SEM & why is it increasing
• Provides them with a group of potential or existing customers in which to communicate– About their good or
service to match, understand & satisfy customer needs –
– Who is buying, what do they buy and why do they buy.
![Page 4: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/4.jpg)
The importance of target markets to SEM & why is it increasing
• Develop a specific, targeted marketing mix – Reflect differences in
customer tastes & their needs
– Make sure the customers you are targeting have the willingness and ability (disposable income) to purchase
![Page 5: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/5.jpg)
Describe advantages & disadvantages of using Market Segments
• Advantages• Distinctive/Identifiable• Accessible/Actionable
– Easy to get to• Measurable/Definable• Substantial
– Large enough to make a difference
• Disadvantages• Wrong market• Can’t reach them• Bad forecasts or
information• Fads
![Page 6: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/6.jpg)
One Disadvantage: Fads
![Page 7: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/7.jpg)
Describe advantages & disadvantages of Mass Marketing
• Advantages • Less confusion
– To implement– To customers
• Less promotional cost
• Disadvantages • Single message may not
reach enough customers• Lost sales opportunities
– Harder and more costly to gain a new customer than to retain an old one
![Page 8: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/8.jpg)
“You Do”
Target Marketing Activity Sheets15 minutes to finish each sheet
Quiz Grade will be given for completed work Each sheet is worth 25 pts
![Page 9: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/9.jpg)
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
![Page 10: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/10.jpg)
Demographics
![Page 11: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/11.jpg)
Example: Demographics and Movies
![Page 12: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/12.jpg)
Geographic Market Segmentation
• Region: by continent, country, state, city, neighborhood or street
• Size of metropolitan area: segmented according to size of population
• Population density: often classified as urban, suburban or rural
• Climate: according to weather patterns common to certain geographic regions
![Page 14: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/14.jpg)
Psychographic Market Segmentation
• Activities • Interests• Opinions• Attitudes• Values• Lifestyles• What a person likes to do
![Page 15: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/15.jpg)
Demographics and Psychographics
![Page 16: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/16.jpg)
Behavioral Market Segmentation
• Behavior towards a product• Benefits sought by the customer• Usage Rate – how often do they purchase?• Brand Loyalty – they expect something• User status – potential, first-time or regular• Readiness to buy – urgency• Occasions like holidays, birthdays & events
that stimulate purchases
![Page 17: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/17.jpg)
Behavioral
![Page 18: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/18.jpg)
Segmentation Your answer Examples
Demographic Age, gender, race, education level, income level
Psychographic Likes, interests, values
Behavioral Product loyalty, why they purchase/motivation
Movie Trailer SegmentationTrailer 1: Movie Title: ____________________________________
![Page 19: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/19.jpg)
Movie Trailer Segmentation
![Page 20: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/20.jpg)
Movie Trailer Segmentation
![Page 21: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/21.jpg)
Movie Trailer Segmentation
![Page 22: SEM1 3.01 A - Market Planning](https://reader036.fdocuments.in/reader036/viewer/2022062305/56815e5c550346895dccd4d1/html5/thumbnails/22.jpg)
“You Do”
Target Marketing Activity Sheets15 minutes to finish each sheet
Quiz Grade will be given for completed work Each sheet is worth 25 pts