Presentation on theme: "Target Market. What is target marketing? Is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its."— Presentation transcript:
What is target marketing? Is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. How will you decide what specific group you are going to spend advertisement dollars on.
How companies determine a target market Businesses create a customer profile: Demographics Geographics Psychographics
Demographics Age Baby Boomer Generation x Generation y Gender Income Disposable Discretionary Marital Status Ethnic Background Religion Occupation
Geographics Where people live: Local Regional National Global
Psychographic Grouping people people with similar lifestyle Activities Attitudes Personality & Values
Please list at least one product/service that is marketed based on the following: Age Location Religion Race Income Gender
Mass Marketing vs. Target Marketing ( segmentation) Using a single marketing strategy to reach all customers: Chewing gum Tooth paste Toilet paper