1. Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter Hit a Home Run with Customers 4.1 The Marketing Concept 4.2 Discover What People Want 4.3 Target Markets 4.4 Customer Service 4

2. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 2 Lesson 4.3 Target Markets Goals Define target market and market segment. Describe how businesses use market segmentation.

3. Sports and Entertainment Marketing © Thomson/South-Western DO NOW: List three products that are designed for teenagers Chapter 4 Slide 3

4. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 4 DETERMINE THE TARGET MARKET target market specific group of consumers you want to reach

5. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 5 Focus Marketing Efforts market segment a group of consumers within a larger market who share one or more characteristics Consumers belong to multiple market segments. Marketers must identify the market segment to which they want to sell.

6. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 6 Meet Target Market Needs Market segmentation data can improve business decision making. number of potential customers customer income level level of interest in product or service

7. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 7 What is a target market? Provide an example of a company’s target market. What would happen if a business tried to satisfy the needs of all possible customers?

8. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 8 MARKET SEGMENTATION Markets may be segmented in many ways. geographic location demographics psychographics behavior

9. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 9 Geographic Segmentation divides markets into physical locations

10. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 10 Demographic Segmentation information that can be measured age income profession gender education marital status household size

11. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 11 Psychographics Segmentation characteristics that cannot be physically measured values interests lifestyle choices

12. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 12 Behavioral-Based Segmentation behavioral-based segmentation focuses on a customer’s attitude toward products and services product usage what products you use and how often product benefits the positive experiences or associations people derive from using a product or service

13. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 13 Capture a Market Share market share percentage of total sales of a product or service that a company expects to capture in relation to its competitors

14. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 14 List and describe four types of market segmentation.

15. Sports and Entertainment Marketing © Thomson/South-Western To Do: Suggest a target market for each of the following (include demo, geo, psycho, and behavior-based segments): Celebrate West Hartford Justin Bieber concert at Madison Square Garden in NYC Boston Red Sox Game at Fenway Park Hunger Games premiere midnight opening night Toby Keith concert at the Civic Center in Hartford, CT Chapter 4 Slide 15

16. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 16 Lesson 4.4 Customer Service Goals Explain the importance of outstanding customer service. Explain what it means to establish a service culture.

17. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 17 Terms customer service gap values-based culture

18. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 18 OUTSTANDING SERVICE EQUALS SUCCESS Business success depends on excellent customer service. Customer relationships should continue after the sale of goods and services.

19. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 19 A Track Record for Great Customer Service customer service gap the difference between customer expectations and the services actually received Customers are likely to tell at least 10 people about their poor customer service experiences.

20. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 20 Training Programs That Make an Impact Individuals hired for customer service positions should have a positive attitude and look forward to meeting the public. Proper employee training in proactive, efficient and courteous customer service is critical to providing a pleasant experience for customers.

21. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 21 Why is outstanding customer service critical to a business in a highly competitive marketplace?

22. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 22 CREATING A SERVICE CULTURE Gallery Furniture has effective customer service principles. They are: Demonstrate a values-based culture that is rooted in high performance and excellent customer service.

23. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 23 Passion results in energy. Demonstrate pride in every sale. Remember the value of long-term positive relationships. Follow the “FAST” (Focus, Action, Search, Tenacity) strategy.

24. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 24 How May I Help You? “It’s not my department” should be replaced with “How may I help you?” mystery guest hired by an outside firm to have an individual assess the performance of a business feedback on the individual’s experience as a customer is provided to the hiring business

25. Sports and Entertainment Marketing © Thomson/South-Western Chapter 4 Slide 25 Explain what it means to have a values- based culture. Read the article found at http://www.businessknowhow.com/marketing/cstips.htm and discuss the different ways to assist customers. http://www.businessknowhow.com/marketing/cstips.htm