What group of people will most likely view the entertainment broadcast?
How does an entertainment entity identify and communicate with its target market?
Creating a successful marketing plan begins with identifying consumers of the product or service you are attempting to sell. Every product or service will appeal to the wants and needs of a certain market. For example, the target market of a new shade of lipstick may be an adult female, while the target market of a new line of baby bottles may be an adult female or male with children. Target marketing is developing a strategy with your consumers in mind. However, it is more beneficial to take target marketing one step further by using market segmentation. Market segmentation breaks the target market into smaller, more specific groups. This allows the marketer to promote their product or service differently to each group. Market segmentation consists of four categories: Demographic, Geographic, Behavioral, and Psychographic.
Demographic Segmentation. Demographic qualities include personal statistics, such as age, gender, income, ethnicity and occupation. Demographic segmentation is one of the most clearly identifiable. Therefore, it is one of the most commonly used segments. Every person has an age, gender and income which makes demographic segmentation the easiest way to diversify individuals.
Geographic Segmentation. Consumers can be segmented geographically by region, climate or population density. This segment can also include the distance at which a consumer will travel to obtain a product or service.
Behavioral Segmentation. How is the consumer going to use the product? Consumers can be divided in segments by answering this simple question. Variables that affect behavioral segmentation are usage rate, buying status (potential, first-time, occasional, or repeat consumers), and brand loyalty.
Psychographic Segmentation. Everyone has different values, beliefs and attitudes. Consumers can be segmented based on how they feel and think about a product or service. Surveys are very useful when grouping consumers based on psychographics.
Identifying the target market and creating a market segmentation profile will prove to be extremely beneficial when determining the type of entertainment content to create and the most effective marketing strategies to promote the entertainment broadcast. Although this step can be time consuming and vary greatly depending on a number of variables, the research gained will aid in the decision-making process throughout this program.
Be sure to stress the importance of gathering as much information as possible before making any decisions. This is not only important in business and marketing, but also a key concept that should be implemented in daily life. Informed decision making based on facts is a skill that can and should be used throughout a persons’ entire life.
Upon completion of this lesson, students will develop the skills through which they may:
Identify the target market for the entertainment broadcast.
Develop a viewer profile related to the target market.
Analyze the research and apply knowledge of target market and market segments to produce relevant entertainment content and develop effective marketing strategies to promote the entertainment broadcast.
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