Bell Ringer Emillie lost $9,000 in personal belongings due to a flood at her apartment complex. Fortunately, she had renter's insurance with a $500 deductible. How much would she receive from the insurance company if her maximum coverage was $10,000?

Bell Ringer Answer $9,000 - $500 = $8,500 Emillie would receive a check for $8,500 to cover her belongings.

Learning Targets Define customizing Describe the financial impact of Baby Boomers on the entertainment industry. Identify each category of generations, describe each generation and explain types of entertainment for each generation.

Vocabulary Words Customizing Impromptu Tiering

Customizing Products One of the first steps in developing the marketing mix for a particular entertainment product is to collect marketing information about the consumers of the product. Once information is gathered about the needs and wants of the various consumers within the market, product marketers can customize products or services to the tastes of their target audiences.

Customizing Products Customizing  changing a product to fit the needs or wants of a particular market. In Southern California, Killer Entertainment provides live impromptu entertainment based on audience reactions. Impromptu spontaneous and changing

Local TV – American Style Current product planning for the majority of national network television shows take place in Los Angeles. Planning and production of shows are expensive and require a large viewing audience to attract advertisers to cover the production costs.

Nielsen Top 10 Trends

Sports Programming The costs of sports programming have soared in direct proportion to the excessive salaries of sports figures. Sports teams have pushed some of the costs of salary increases onto the national television networks. Tiering  offering sports channels and specific sports programs outside the basic cable or satellite package for an additional fee. NFL Network  ~ $350.00 NBA League Pass  ~$200.00 Big Ten Network  ~$50.00

Marketing to Baby Boomers One of the best-known US market segments is the Baby Boomer generation (people born between 1946 – 1964). There are over 76 million boomers who are at the peak spending age of 46 right now.

Baby Boomers Won’t Retire Baby Boomers are expected to work beyond normal retirement age. Many will serve as volunteers or work part-time. They enjoy recreational activities, personal fitness, and all types of entertainment. They have the discretionary income to pay for the products and services that they desire.

Segmenting the Group Marketers and product and service planers must be careful to create target markets in dealing with a group as large and varied as the Baby Boomers. Baby Boomers born in 1946 are retiring; whereas as those born in 1964 are worrying about how to get their children through college.

Entertaining the Boomers Boomers are now finding more time for an evening out. Reel Source found that Baby Boomers account for one-third of all attendance at movies.

2nd Period Assignment Generation Assignment Using the Internet and all resources available, research the following generations (age groups): Baby Boomers, Generation X, Generation Y, and Generation Z (sometimes classified as the iGeneration). Collect a sheet of solid information and research for each group. Be sure to COPY and PASTE this information into a Microsoft Word document in case the Internet fails. In Microsoft Word, make a bulleted list (at least fifteen items) of descriptors for each of the target markets. Descriptors are characteristics that describe each generation. Type two or three paragraphs describing at least five entertainment goods/services that each age group will require or would most likely purchase. Prepare a PowerPoint that summarizes the four target markets. Your PowerPoint should use information from 1-3. You should have at least 12 slides and should include images of people that fit into each generation classification.