Transcript SEM1 3.01 A - Market Planning PE – Select target market

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
•
 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 –
(leads to customer retention too!)
 Who is buying, what do they buy and
why do they buy – the more you know
the better your product can satisfy those
specific needs
 Develop
a specific, targeted marketing mix
 Reflect
differences in customer tastes & their
needs
 Increased sales & profits from each targeted
market & more opportunities for growth
 Make sure the customers you are targeting
have the willingness and ability (disposable
income) to purchase
 Advantages
 Disadvantages
 Distinctive/Identifiable
 Wrong
 Accessible/Actionable

Easy to get to
 Measurable/Definable
 Substantial

Large enough to make a
difference
 Stable

Will be around long
enough for marketing to
work
market
 Can’t reach them
 No real data
 Bad forecasts or
information
 Fads
 Advantages
 Less
confusion
To implement
 To customers

 Less
promotional cost
 Less work
Strategic thinking
 Manual hours

 Disadvantages
 Single
message may not
reach enough
customers

May not keep pace with
new trends
 Lost

sales opportunities
Harder and more costly to
gain a new customer than
to retain an old one
1950’s - Mass Marketing
1960’s Market Segments
1970’s Niche Marketing
1980’s Mass Customization
1990’s Micro-Marketing
2000’s E-Marketing
 Age
 Generation
 Income

Disposable &
Discretionary
Baby-boomers (‘46 – ’64)
 Occupation
 X (‘65 – ’76)
 Education
 Y (‘77 – ’93)
 Z (‘94 – ’04) techies
 Ethnicity

 Gender
 Nationality
 Family
 Religion
size
 Family life cycle
 Social
Class
 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
 Activities
 Interests
 Opinions
 Attitudes
 Values
 Lifestyles
 What
a person likes to do
 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
Terms to use to fill in the blanks
 Market
 Target
market
 Mass marketing
 Marketing segments
 Market segmentation
 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
1. When a sport marketer considers factors
such as lifestyles and interest levels in a
specific sport, s/he is segmenting a market on
the basis of
A.
gender.
C.
geographics.
B.
demographics.
D.
psychographics
1. When a sport marketer considers factors
such as lifestyles and interest levels in a
specific sport, s/he is segmenting a market on
the basis of
A.
gender.
C.
geographics.
B.
demographics.
D.
psychographics
2. Which of the following is a factor that
sports and entertainment marketers consider
when targeting customers for a specific event:
A.
Personalities
C.
Expectations
B.
Demographics
D.
Affiliations
2. Which of the following is a factor that
sports and entertainment marketers consider
when targeting customers for a specific event:
A.
Personalities
C.
Expectations
B.
Demographics
D.
Affiliations
The promoters of an extreme-sports weekend
event would most likely target which of the
following markets:
A.
B.
C.
D.
Professional athletes
Business executives
Older men, ages 40 to 50
Young men, ages 12 to 34
The promoters of an extreme-sports weekend
event would most likely target which of the
following markets:
A.
B.
C.
D.
Professional athletes
Business executives
Older men, ages 40 to 50
Young men, ages 12 to 34


Marty is a single, 22-year-old graduate student at
Martinsville University. He is enrolled as a business
management student working on his Masters degree.
Marty rents a one-bedroom apartment close to
Martinsville U. He lives alone with his dog, Buddy.
The Martins are a typical American family. Mr. Martin
is 39 years old and a sales manager at a local parts
wholesaler. His wife enjoys cooking and is a part-time
secretary for an insurance agent. They have two
children. Matt is an eighth grader at Martinsville
Elementary School and Matilda is a fourth grader at
Martinsville Elementary. Both children are very
involved with sports. The Martins live in a small
suburb outside Martinsville. Their home is a modest
three-bedroom house with a den and a fireplace.
 3.01
Target Market – Can you segment these
markets?
 3.01 Target Market – Nothing to Sneeze At
 3.01 Target Market – Advantages and
Disadvantages
 3.01 LAP objective A & B Total Recall
questions
 3.01 The Grey Zone: answer the questions in
paragraph format. 2 paragraphs minimum.
 3.01 Make It Pay: 2 paragraph minimum