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Understanding Target Marketing in Sports and Event Marketing

Target marketing is essential for effectively reaching potential customers in sports and event marketing. It involves identifying specific groups of consumers with shared wants and needs, enabling businesses to tailor products and advertising efforts. This method contrasts with mass marketing, which aims for a broader audience but may lack specificity. By employing market segmentation strategies—demographic, geographic, psychographic, and behavioral—companies can better satisfy customer demands based on their unique characteristics. This focused approach fosters stronger connections and better sales outcomes.

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Understanding Target Marketing in Sports and Event Marketing

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  1. SEM1 3.01 PI – Describe target marketing in sport/event marketing

  2. Marketing Terms • Market – the group of all potential customers who share common wants and needs • Ex: People that play video games • Consumers in a Market: • Have the desire to make a purchase • Have a willingness to purchase a product • Have the financial means to make a purchase

  3. Marketing Terms • Mass Marketing – single marketing plan to reach all consumers (Everybody!) • Ex: bottled water, foods, soda, phones

  4. Mass Marketing • Advantages • One message to a large audience • One product for everyone • Less promotional cost • Less work • Disadvantages • Single message may not reach enough customers • Product may not appeal to everyone

  5. Marketing Terms • Target Market – group of specific customers that a company desires to have as consumers • Have specific characteristics • Ex: BOYS that play video games • Target Marketing – Businesses identify and select customers with similar wants and needs • Make products, goods, and services for these customers • Aim all advertising and marketing efforts at these customers

  6. Importance of target marketing • Potential Customers: • Who is buying? • What do they buy? • Why do they buy? • Match the good or service with customer needs • Satisfy wants and needs • Sports Marketing: • Targets those with disposable income

  7. Target Marketing?

  8. Target Marketing?

  9. Marketing Terms • Market Segmentation – dividing the entire market into smaller groups that share common characteristics • What? . . . Creates a target market • Why? . . . Not all consumers are alike • Different wants, needs, and reasons for buying • Focus products and marketing to a specific group

  10. Marketing Terms • Marketing Segments – groups of unique individuals that share common characteristics People Who Play Video Games Yellow: All video games Blue: Sports Games Red: Role Playing Games Green: Military Games

  11. Types of Market Segmentation • Demographic • Based on consumer statistics and characteristics • Geographic • Based on where the consumers live and work • Psychographic • Based on what consumers do and like • Behavioral • Based on why consumers buy a product

  12. Demographic Market Segmentation • Age • Generation • Baby-boomers (‘46 – ’64) • X (‘65 – ’76) • Y (‘77 – ’93) • Z (‘94 – ’04) techies • Gender • Family size • Family life cycle • Income • Disposable & Discretionary • Occupation • Education • Ethnicity • Nationality • Religion • Social Class

  13. Demographic Examples

  14. Geographic Market Segmentation • Location • Size of Population • Climate and Weather

  15. Geographic Examples

  16. Psychographic Market Segmentation • Activities • Interests • Lifestyle • What a person likes to do. • Ex: Buying golf clubs because you enjoy playing golf

  17. Psychographic Examples

  18. Behavioral Market Segmentation Based on consumer behavior towards a product • Benefits soughthttp://www.youtube.com/watch?v=trUrPbSKEZE • What will the product do for me? • Usage Rate • How often do they purchase? • Brand Loyalty • User status • Potential, first-time, or regular buyer • Readiness to buy http://www.youtube.com/watch?v=3Wwo7PjI9aU • Have to have it now! • Special Occasionshttp://www.youtube.com/watch?v=vRlerzla1CY • Holidays, birthdays & other events that stimulate purchases

  19. Behavioral Examples

  20. Niche Marketing • Marketing directed towards a small (underserved) group • Can have great results • Examples: Fisker Karma Hybrid Supercar Lefties Only The Specialty Shop for Left-Handed Golfers and baseball players. http://www.youtube.com/watch?v=6RvyFFjP7RE

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