Target Market/Market Segmentation Sports Marketing.
Target Market/Market SegmentationSports MarketingTarget MarketTarget Market a specific group of consumers that an organization selects as the focus of its marketing plan. Whos the target market?Whos the target market?Whos the target market?Whos the target market?Whos the target market?Whos the target market?Whos the target market?**Market Segmentation**market segment is a group of individuals within a larger market that share one or more characteristics.Example Sports Illustrated magazine putting different sports stars on the cover in different parts of the countryExample - millions of people in the US enjoy football, but a smaller group specifically enjoys the Philly Eagles. A media guide covering the Eagles will be sold out in the PA market, but would flop in Dallas. Five Elements of Market Segmentation1. Geographic segmentationdividing the markets into physical locations, such as eastern, northern, southern, and western regions of the US or the urban and rural areas of a state. -can occur within a single city-sports fans are likely to be loyal to their own region when purchasing products.Five Elements of Market SegmentationDemographic Segmentationfocuses on information that can be measured such as income, profession, gender, religion and education Five Elements of Market SegmentationPsychographicsfocus on characteristics that cannot be measured, such as attitudes and lifestyle choices. Holy Day Ballgame?Consumers make decisions on emotions they will spend more money on a teams clothing after a win than a loss Five Elements of Market SegmentationProduct Usagereflects what product you use, how often, and why.marketers use this info. to encourage you to use your preferred products more often or to try new, similar, or competing products.Five Elements of Market SegmentationBenefits Derivedthe value people believe they receive from the product or service.Enjoyment received from a good game or from a sweatshirt with a team logo rather than the same sweatshirt with no logo.Market Seg ActivityPair up (with someone you havent worked with)Make poster person of psychographic profile given to youBe able to explain to class traits of personCreate a 30 second radio commercial for a pack a gum using your poster person as a target marketBelonger, Achiever, Emulator/Wanna Be, Socially Conscious Type A, Socially Conscious Type B, Balanced/Totally Integrated, Needs driven.*