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Target Markets and Market Segmentation Task 40. What is a Target Market? It is the specific group of consumers you want to reach. If you want to sell.

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Presentation on theme: "Target Markets and Market Segmentation Task 40. What is a Target Market? It is the specific group of consumers you want to reach. If you want to sell."— Presentation transcript:

1 Target Markets and Market Segmentation Task 40

2 What is a Target Market? It is the specific group of consumers you want to reach. If you want to sell your product, you must first know who your customer is, and what they like, and dont like. free template from 2

3 Who would the target market be? 6/8/20143

4 Who would the target market be? 6/8/20144

5 market segment What is a market segment ? It is a group of consumers within a larger market who share one or more characteristics. Marketers divide consumers into smaller groups in order to sell their products effectively 6/8/20145

6 Comparison huge Target Market - huge College Basketball Fans smaller Market Segment - smaller Virginia Tech Basketball Fans 6/8/20146

7 Demographic Segmentation Focuses on things that can be measured like: Age Income Profession Gender Education Marital status 6/8/20147

8 Psychographic Segmentation Characteristics that cannot be measured such as values, interests, lifestyle choices, religious beliefs.. 6/8/20148

9 Segmenting even further.. Geographic Segmentation : divides the market by locations such as the North, South, East and West. May even be divided in one city, such as Yankee fans vs. Mets fans. 9 vs.

10 6/8/2014 free template from 10


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