1. Text Books needed today – Read Pages 37 - 41
Market Segmentation #3
Objectives:
Explain the concept of market segmentation
Analyze a target market
Differentiate between mass marketing and market segmentation
Text Books needed today – Read Pages

2. Mass Marketing – use of a single marketing strategy to reach all customers
Name a company or product that would use Mass Marketing?
The product must have mass appeal
Mass Marketing
Our modern world is . . .
Global
More people
Diverse
Technological
Specialized
This leads to? . . .
Market Segmentation instead of mass marketing

3. 3 ways Market Segmentation How are markets segmented? Demographics
Market Segmentation - the process of classifying people who form a given market into even smaller groups 3
ways
How are markets segmented?
Demographics
Geographics
Psychographics
Market Segmentation

4. Market Segmentation Demographics – Statistics to describe a population
Age
Gender
Income
Marital Status
Ethnic Background
Market Segmentation

5. Geographics – Segmentation of a market based upon where people live
Where might a particular market live?
Examples?
Market Segmentation
In Nebraska or Utah?
What about Florida or Washington?

6. Psychographics – grouping people with similar lifestyles, attitudes, values and opinions.
Activities
Attitudes
Personality & Values
Market Segmentation

7. Assignment – Segmentation in the Mirror. You represent a certain
a) Demographic
b) Geographic
c) Psychographic
Write down every characteristic about yourself that marketers of different products would see in you in each of the above categories. In other words, describe yourself in detail. Use one or two word descriptions.
Market Segmentation