Target Market & Segmentation
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Curipod generated lesson: "Target Market & Segmentation". #8-10
jeremy.parnell
Updated 4 days ago
1. Word cloud
120 seconds
What is the definition of target market?
2. Slide
60 seconds
Target Market & Segmentation
Target Marketing is the process of finding potential customers for a business. Segmentation is the process of dividing a market into distinct groups of customers. This helps businesses create more personalized products and services.
3. Slide
60 seconds
Target Market & Segmentation
Target Market: A specific group of consumers that a business has decided to aim its marketing efforts and ultimately its merchandise towards.
Market Segmentation: The process of dividing a market of potential customers into groups, or segments, based on different characteristics.
Demographics: Statistics that describe a population in terms of personal characteristics such as age, race, gender, income, and occupation.
4. Slide
60 seconds
Did you know?
Market segmentation is used to divide markets into different sections based on customer needs, motivations, characteristics, and behaviors. Market segmentation can also be used to identify smaller niche markets that may have been overlooked by companies. Market segmentation is also used to determine the most effective way to target and reach a company’s target market.
5. Open question
270 seconds
What are the benefits of segmenting target markets?
6. Open question
270 seconds
How do companies identify their target markets?
7. Open question
300 seconds
How does understanding target markets help a company?
8. Open question
270 seconds
What are the consequences of not properly segmenting target markets?
9. Drawings
450 seconds
Brain break: Draw a flamingo selling ice cream on the beach
10. Poll
60 seconds
What is target market segmentation?
- Setting marketing objectives
- Analyzing competitor strategies
- Determining the size of the target market
- Dividing a market into distinct groups based on similar characteristics
11. Poll
60 seconds
Which of the following is NOT a common segmentation variable?
- Demographics (age, gender, income)
- Geographic location
- Number of competitors in the market
- Psychographics (lifestyle, personality)
12. Poll
60 seconds
Why is target market segmentation important for businesses?
- To better understand customers and their needs
- To eliminate potential customers
- To reduce marketing costs
- To increase competition among customers
13. Poll
60 seconds
True or False: Target market segmentation helps businesses tailor their marketing messages and offerings to specific customer groups.
- False
- True
14. Slide
60 seconds
Assignment: Target Market
Open up Canvas and go to the Target Market assignment in this week's module. Take the rest of class to work on it, and be prepared to submit tomorrow.
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