2.  First you must determine who they are  Study the market

3.  Popular in 1950/1960’s due to shortages after WWII  Not often used today  Products usually have universal appeal (everyone likes them)  To mass market a product, businesses select a single, general advertising theme  Designed to keep name before public  Ex: Wrigley’s Gum = twins

4.  Divide the total market into groups of people who share specific needs and characteristics is the goal of market segmentation

5.  Geographic's Based on where people live Refer to local, regional, national or global

6.  Demographics  Describe population in terms of physical characteristics  Age, gender, income, ethnic, education, occupation

7.  Psychographics  Involves study of consumers based on lifestyle and attitudes/values it shape  People who have same lifestyle share attitudes on most products  Examples: sports & magazines

8.  Product Benefits  Build beneficial features into products  Examples: sport shoes Walking Jogging Basketball Tennis

9.  Combination of geographic's, demographics, psychographics Equals…. complete picture of prospective customer

10. You have the perfect product + A customer profile  Bring the two together by using: TARGET MARKETING  Focusing all marketing decisions on the specific group of people you want to reach

11.  Product  Place  Price  Promotion Together they create the MARKETING MIX

12.  Cars  WHAT IS YOUR FAVORITE CAR?  Shoes  WHAT IS YOUR FAVORITE BRAND OF SHOE? DEFINITION OF A MARKET IS……. Group of people who share common wants/need AND Have the ability to buy