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Mon day , September 23 , 2013

Mon day , September 23 , 2013. EQ: Why is being able to analyze a target market important?. Standard. BCS-BE-36: The student demonstrates understanding of the concept of marketing and its importance to business ownership.

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Mon day , September 23 , 2013

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  1. Monday, September 23, 2013 • EQ: Why is being able to analyze a target market important?

  2. Standard • BCS-BE-36: The student demonstrates understanding of the concept of marketing and its importance to business ownership. • Element: Justifies the importance of defining a target market and marketing niche.

  3. Target Market • Target Market- • Group With Similar Needs/Wants • Product Positioning- • According To Consumers’ Perception

  4. Market Segmentation Variables • Geographic • Demographic • Psychographic • Behavioral

  5. Geographic Variables • Places Consumers Reside • Countries > Neighborhoods • Water = Boats • Mountains/Rural = Four-Wheel Drive Vehicles • Urban Area = Designer Clothing

  6. Demographic Variables • Age • Income • Gender • Ethnic Background • Marital Status • Race • Religion • Social Class • Others?

  7. Psychographic Variables • Lifestyle • Interests • Attitudes • Can Be Changed By Marketing Efforts

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