Target Market

1
2.02 Discuss the concept of market identification.
2
______Market
Age
Hobbies
Location
3
Market

• The group of potential consumers who share common
  _________and _______.
• The target market has the ability and willingness
  to buy the________.
• Businesses strive to meet the needs and wants of
  their__________.

4
Mass Marketing

• A single marketing plan used to reach
  all___________.

5
Target Market

• The group of consumers that a _________desires to
  have as customers.

6
Market Segmentation

• Dividing the entire market into smaller groups
  (of people) who share similar____________.
• Allows businesses to customize _________and_______
  ______.

7
Demographics

• Segmenting the market based on personal
  characteristics such as
• ______________________________
• ______________________________
• Example middle class, males, ages 20-40, who
  are construction workers.

8
Psychographics

• Segmenting the market based on
• ___________________________
• Example People interested in professional
  football.

9
Geographics

• Segmenting a market based on where a person
  lives. Geographic segmentation can refer to
  _____, _____, _____ or _______________.
• Example A small local store will segment to the
  surrounding area like a town, while big companies
  like Nike market Internationally.

10
Behavioral Segmentation

• Dividing consumers into groups according to their
  response to a product. Behavioral segmentation
  divides markets into groups based on _____they
  are looking for in a product and _____ they buy
  the product.
• Example Purchasing Nike shoes because Michael
  Jordan wears them.