1. Segmentation & Consumer Profiling
Target Marketing

2. As marketers and business people, we will sell our products to whomever will buy it.
However
If you’re selling retirement funds, who would you target?
If you were selling wedding dresses, who would you target?
People’s unique physical features, age, values, gender, geographic location, and any other feature which makes them unique affects their daily routine and purchasing habits
Therefore, as marketers, the more we know about our potential customers/consumers the better when can anticipate or change their buying habits

3. Market Segments
By breaking consumers into groups with similar features or buying habits we are creating market segments
By creating this groups we are better able to research our target market and promote our product to them
Some products have only one segment, but others may have many segments

4. Examples One Segment: Wedding Gowns Multiple segments: Jeans
Females, 20-35, getting married
Multiple segments: Jeans
Children
Teenagers
Adults
seniors

5. Demographics Demographics break consumers into categories by:
age,
Gender
Income level
Family life cycle
Each of these categories can be broken down further as well
Ie. 0-15, 16-24, 25-44, 45-64, etc
Marketing Research is the study of consumers who would likely purchase your product or service

6. Brainstorm
Marketers have to consider which products are more likely to be purchased by females, males or both
Different products based on place in family life cycle
Single, no kids
Single, with kids
Couple, no kids
Couple, with kids
Single/couple, with teenagers
Empty nesters
Why does income level matter? (low, middle, high)
Picture of class brainstorms will be posted later

7. Psychographics
Breaking consumers down by lifestyle, values and culture
Brainstorm examples (picture to be posted later)
Example: buying Wedding Gowns varies by values
Western Culture: white gowns
Chinese: red gowns
Indian: red sarees
etc

8. Geographic Breaking consumer needs down based on where they live
Example: Compare the needs in Northern Ontario to Cuba (picture to be added later)

9. Customer Profiles
When you use your marketing research to create a profile of people who buy your product to be better able to promote your product to them