march 22, 2012. a specific group of consumers at which a business aims its products and services...
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March 22, 2012
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A specific group of consumers at which a business aims its products and services
Example
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The process of classifying people who form a given market into even smaller groups◦ Demographics◦ Geographics◦ Psychographics◦ Behavior Patterns
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Statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status, ethnic background, education, and occupation
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Money left after taking out taxes
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The money left after taking out taxes and paying for basic living necessities (food, shelter, clothing, etc.)
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Segmentation of the market based on where people live
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Grouping people together with similar lifestyles and activities, as well as shared attitudes, values, and opinions.
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Based on actual consumer buying behavior for particular products
Customers are segmented based on:◦ Attitude towards a product (brand loyalty)◦ User status indicating a first time buyer◦ Potential buyers◦ Benefits sought
Will purchase based on:◦ Image◦ Security/Comfort
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You are starting a new franchise and are beginning season ticket sales. Use the USA Data site to develop a list of 20,000 season ticket prospects based on the following:
◦ Demographics – 3◦ Geographics – 2◦ Psychographics – 2◦ Behavior Patterns - 1
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Sports products◦ goods, services, ideas, or a combination of those
things related to sports that provide satisfaction to the consumer
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Types of sports products include:
◦ Sporting events games, events, and competitions, including athletes
and the arenas where the events take place
◦ Sports information news, statistics, schedules and stories
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Types of sports products
◦ Sports training – a service provided through fitness centers, sport camps, and lessons
◦ Sporting goods – equipment, licensed merchandise, collectibles, and memorabilia, as well as apparel and accessories
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Tangible products – physical goods that offer benefits to the consumer
Intangible products – a non physical service such as tennis lessons, personal training, and sports camps
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Product Line – a group of closely related products manufactured or sold by a company
Product Mix – the total assortment of products that a company makes or sells