1. Chapter 4
Marketing Basics

2. Goals The student will define a target market
The student will identify the four methods used to segment a market

3. Who is the Target Market?
Brinks:
Budweiser
Old Spice

4. Marketing Up Front
A plan that identifies how a company expects to achieve its goals is known as a strategy.
Must revolve around the Marketing Concept!
4 P’s around the NEEDS of the customer!

5. Market Segmentation
The process of dividing a larger market into smaller parts

6. Target Market
The target market is a clearly defined segment of the market to which a business wants to appeal.

7. Primary Market
A primary target market is the segment of a marketplace a business believes will give it the best chance to sell.
A primary target market may not be the largest segment of a marketplace.
For example, the majority of people who play golf may be men under age 50. The primary target market for a company that makes women's golf clothing for seniors would be women age 50 and older

8. 80/20 Rule
The majority of a business’s profits come from a small number of customers.
80% of sales come from 20% of the customers

9. Secondary Market
The secondary market includes future primary buyers, those buying at a high rate within a small segment and people who influence primary buyers. Their characteristics and buying behaviors usually differ from those of the primary market.

10. How to get your Ideas to spread
How does this video relate to Marketing in general?
How can the ideas from this video link to market segmentation?

11. Breaking up your Segments:

12. Psychographics Traits, habits, and experiences of the potential buyer
Religious
Sports
Video games
Healthy

13. Demographics Statistics that describe a population Age Race Income
Gender

14. Geographic's
Segmenting a market based on where people live

15. Behavioral
Dividing a market based on the way customers USE a product or act towards a product.

16. Assignment