Transcript 08/29/2012 - Tiffanie Harrison

Warm-Up
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The 8th Grade Academy Night is next Wednesday. This is the night that
8th graders come to RRHS and learn about academies. Please type up
a testimonial for any of the marketing classes you have taken and/or
are taking in your warm-up doc. This may be used to persuade
incoming freshmen to get on the marketing track! It does not matter if
you took the course with me or with another teacher.
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Advertising and Sales Promotion
Entrepreneurship
Retailing & E-tailing
Principles of Business, Marketing & Finance
Print Shop Practicum
Sports & Entertainment Marketing
Warm-up
Dragon Locker
Have you heard of Dragon
Locker?
This is a new initiative we
are starting that has been
very successful at other
campuses.
If you have items to donate
you can bring them to me
or Mrs. Oliver at any time.
If you need any items from
the locker you can come to
me or Mrs. Oliver at any
time.
Assignment 01/21/15
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Please complete & turn in your Entertainment
Compare/Contrast from last class on the front desk.
Review the rest of this market segmentation PowerPoint.
(You may need to do additional research to fully
understand…marketing segmentation is just how we as
marketers break down consumers into categories…it’s
almost like stereotyping!)
Complete the assignment on my website. I’ve made you an
example!
Performance of Understanding
THE MARKETING MIX
PRODUCT
PRICE
TARGET
MARKET
PROMOTION
Learning Objectives
PLACE
MARKET
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People who have similar needs and wants and are
capable of buying products
A
key part of this definition is the fact that the potential
customer has the purchasing power to buy the product
offered.
Learning Objectives
TARGET MARKET
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The group of customers most likely to purchase your
product. It is the group of people toward whom a
business directs it’s promotional efforts.
 Successful
businesses look for ways to connect with their
customers; understanding the customer or potential
customer is the key to gaining their trust and their
patronage
Learning Objectives
MARKET SEGMENTATION
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The process of defining and subdividing a large
market into identifiable segments having similar
needs, wants, or demands.
 All
businesses need to define their target market as
specifically as possible and avoid generalizations or
broad definitions.
Learning Objectives
IDENTIFYING THE TARGET MARKET
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When identifying the target market, consider the
following questions :
 Is
your market male or female?
 What age?
 Where do they live?
 What do they do for a living?
 How much money do they make?
 What lifestyles and attitudes do they have?
Learning Objectives
TARGET MARKET RESEARCH
CLUSTERS
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Demographics: personal characteristics that make up a target
market.
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Psychographics: social lifestyles (such as student, parent,
athlete, etc.), attitudes, values, and opinions
Geographics: segmenting the market based on where people
live.
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This includes: age, gender, income, marital status, and ethnic background.
This can be local, regional, national, and even global descriptions.
Behavioral: segmenting the market based on product- related
behavior that involves the benefits sought by customers or
shopping patterns.
Learning Objectives