Chapter 4 Identifying Market Segments and Selecting Target Markets.
Target Markets
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description
Define target market and identify the relationship between target markets and market segments.
Transcript of Target Markets
TARGET MARKETS
Key Terms
Target Market: A group of customers that a business has decided to aim its marketing efforts and product towards.
Market Segment: A group of individuals within a larger market that share one or more important characteristics.
Types of Market Segments
Geographic Region, Climate, Population
Demographic Gender, Income Level, Age, Occupation
Psychographic Values, Attitudes, Beliefs
Behavioral Price Sensitivity, Brand Loyalty, Benefits
Sought
The target market is a collection of market segments.
The Big Point
High
School
Students
Part-Time
Job
Ages 16-18
iPhone User
How to do pick your market segments?
Now What?
Assignment
Read “How to Define Your Target Market” by Mandy Porta
Write 10 questions you would ask Heather to determine her target market
Save and print – turn into tray when done
