SERM #41 TARGET MARKET. …a specific group of people that a business wants to reach.
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SERM #41 TARGET MARKET
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Transcript of SERM #41 TARGET MARKET. …a specific group of people that a business wants to reach.
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
