The Consumer Market Marketing Segmentation QCC’s 57, 58

Objectives Define mass marketing, and market segmentation Explain how marketers use Geographic's, Demographics, and Psychographics to reach their customers Develop a customer profile and understand how to use it in the promotion of a product

Reaching the consumer Mass Marketing Market Segmentation

Mass Marketing Using a single marketing plan for one product to reach all customers. Network TV Network Radio National Newspapers (USA Today, NY Times) Magazines with broad appeal (People)

What is a Market? All potential customers that share common needs and wants, and have the willingness and ability to buy the product.

Market Segmentation Identifying specific markets and “targeting” your efforts to those potential customers. –Geography (location) –Demographics –Psychographics

Geography Based on where people live –Local (3 mile radius) –Regional (Southeast) –National (United States) –Global

Demographics Age –Baby Boom –Generation X –Generation Y Ethnicity Income Life Cycle –Single –Married –Empty Nest Education Occupation Describes a population in terms of personal characteristics

Psychographics Describes a population in terms of behavior, attitudes and values (Lifestyles) Leisure-time activities (sports, hiking, computer) Eating Healthy

Why do marketers use consumer segmentation? Target Marketing: Focusing all marketing decisions (4 P’s) on a vary specific group of people who you want to reach.

Customer Profile Information about the target market with regard to the age, income level, ethnic background, occupation, attitudes, lifestyle, or geographic residence of the targeted consumer.

Putting market segmentation to use Development of products Development & placement of advertising –Newspaper –Magazine –Radio –Television

Review Pick a product or a retailer and develop a customer profile based on what you know about their consumer.