Transcript Marketing Segmentation Market Segmentation

Market Segmentation
Introduction to Business & Marketing
Marketing Segmentation
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Market Segmentation: “dividing the total
market into smaller groups of people who
share specific needs & characteristics”
◦ Demographics
◦ Geographics
◦ Psychographics
Demographics
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Demographics:“statistics that describe a
population in terms of personal characteristics”
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Age
Race
Gender
Income level
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Used to describe Target Market
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Example: demographics for The School Store:
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Age: 14-18
Race: All races
Gender: Male & Female
Income Level: middle income
Geographics
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Geographics: “based on where people in the
market live”
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Local
Regional
National
Global
Example: geographics for Ashburn Ice House
◦ Local hockey teams & fans
◦ Regional hockey teams
Psychographics
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Psychographics: “studies of consumers based
on social & psychological characteristics”
◦ Attitudes
◦ Values
◦ Lifestyles
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Example: psychographics for me
◦ Attitude: positive outlook on life
◦ Values: no cheating, honesty, hard-work
◦ Lifestyle: budget-conscious, lives 15-miles from
family, full-time employee
Vocab. Notebook – cont.
VOCAB TERM
8. Marketing concept
DEFINITION
states that to make a profit a
business must focus all
efforts on satisfying the
needs & wants of the
customer
Vocabulary Terms:
8. Marketing concept
9. Marketing mix
10. Market segmentation
11. Geographic
12. Demographic
13. Psychographic
14. DECA
PHOTO
You will draw a photo of
something that helps you
remember this term – keep it
simple!