SERM #41 TARGET MARKET

…a specific group of people that a business wants to reach

 Market Segmentation: “dividing the total market into smaller groups of people who share specific needs & characteristics” MARKETING SEGMENTATION

Demographics – personal characteristics Geographics – where people live Psychographics – lifestyle (attitudes/values) MARKET SEGMENTATION

CONSUMER DemographicPsychographic Geographic

 Demographics: “statistics that describe a population in terms of personal characteristics”  Age  Race  Gender  Income level  Used to describe Target Market DEMOGRAPHICS

 Geographics: “based on where people in the market live”  Local  Regional  National  Global GEOGRAPHICS

 Psychographics: “studies of consumers based on social & psychological characteristics”  Attitudes  Values  Lifestyles PSYCHOGRAPHICS

 Describe the Target Market for your Fantasy Football team  Be specific  Consider:  Demographics  Geographics  Psychographics  Answer break-out questions ACTIVITY