ms. smith. have you ever identified a target market? well….if you have ever seen a commercial or...

Ms. Smith

Have you ever identified a target

market? Well….if you have ever seen a

commercial or made a purchase, you have already seen target markets in

action!

Mass Marketing: involves using a single marketing strategy to reach all customers.

Niche Marketing: when markets are narrowed down and defined with extreme precision. Ex.) Got Milk? ads

Through market segmentation, or the classification of people who form a given market into even smaller groups. The better a company is at identifying their potential

customers, the more successful they will be in delivering products and services that are in demand.

There are 4 categories: ▪ Demographics▪ Geographics▪ Psychographics▪ Behavioral Factors

Demographics are statistics that describe a population in terms of personal characteristics such as: Age▪ Baby Boom Generation: the 76 million babies born in the U.S.

between 1946 and 1964.▪ Generation X: children of dual-career households or divorced

parents. Bombarded with media at an early age.▪ Generation Y: sons and daughters of the later baby boomers.

Racially and ethnically diverse with a lot of spending power. Internet is big. Also known as the Echo Boomers or Millennium Generation.

Gender Income Marital status Ethnic background Education Occupation

Refers to the segmentation of the market based on where people live. Refer to local, regional, national, or even global markets.

Psychographics involves grouping people with similar lifestyles, as well as shared attitudes, values, and opinions. Activities, attitudes, personality & values

Is product-related behavior that involves looking at the benefits desired by consumers, shopping patterns, and usage rate. Ex.) Online shopping security

1. Get into pairs.2. Once in your groups, I will be

passing out a “Customer Profile” for you to analyze.

3. Then using your powers of observation, you will identify your groups target market.

4. Once your group has identified their target market, you will cut the form of a person out of a large sheet of paper and decorate it using photos of products that are marketed to that particular group.

5. Present person to class!