* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download 08/29/2012 - Tiffanie Harrison
Perfect competition wikipedia , lookup
Marketing research wikipedia , lookup
Direct marketing wikipedia , lookup
Street marketing wikipedia , lookup
Dumping (pricing policy) wikipedia , lookup
Service parts pricing wikipedia , lookup
First-mover advantage wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Green marketing wikipedia , lookup
Marketing channel wikipedia , lookup
Marketing plan wikipedia , lookup
Grey market wikipedia , lookup
Darknet market wikipedia , lookup
Multicultural marketing wikipedia , lookup
Sensory branding wikipedia , lookup
Neuromarketing wikipedia , lookup
Market analysis wikipedia , lookup
Product planning wikipedia , lookup
Target audience wikipedia , lookup
Market segmentation wikipedia , lookup
Global marketing wikipedia , lookup
Market penetration wikipedia , lookup
Advertising campaign wikipedia , lookup
Target market wikipedia , lookup
Warm-Up 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. 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 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 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 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 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 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 Demographics: personal characteristics that make up a target market. Psychographics: social lifestyles (such as student, parent, athlete, etc.), attitudes, values, and opinions Geographics: segmenting the market based on where people live. 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