Target MarketsandMarket SegmentationTask 40

What is a Target Market? It is the specific group of consumers you want

to reach. If you want to sell your product, you must first

know who your customer is, and what they like, and don’t like.

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Who would the target market be?

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Who would the target market be?

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What is a market market segmentsegment?

It is a group of consumers within a larger market who share one or more characteristics.

Marketers divide consumers into smaller groups in order to sell their products effectively

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ComparisonTarget Market - hugehugeCollege Basketball Fans

Market Segment - smallersmallerVirginia Tech Basketball Fans

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Demographic Segmentation Focuses on things that can be measured

like: Age Income Profession Gender Education Marital status

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Psychographic Segmentation Characteristics that cannot be measured such

as values, interests, lifestyle choices, religious beliefs..

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Segmenting even further..Geographic Segmentation:divides the market by locations such as the North, South, East and West.May even be divided in one city, such as Yankee fans vs. Mets fans.

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vs.

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