Long Road Applied Media Diploma

Ways To Segment Consumer Markets

Our Town USA has built a brand new amusement park. The marketing team for Fantastic Adventure Park is confused about how they should segment the market. The team wants to make sure that the overall marketing and segmentation strategy is effective and produces the highest amount of overall sales this year. The crucial benchmarks for segments are profitability, measurability and accessibility. The marketing team can segment based on just a single variable, such as age, or they can create a multiple segmentation strategy that incorporates different variables together, such as age, gender or lifestyle. Overall, most marketing departments prefer multiple segmentation strategies because they're more precise and tend to be more effective in the long run. There are five different ways to consider segmenting a market:

• Geography
• Demographics
• Psychographics
• Benefits sought
• Usage rate

Geographic Segmentation

One of the first variables that the team could use in their segmentation strategy is geographic. This would allow the team to break the market into sections by climate, density, market size, world or states. Many companies use climate if their products or services rely on the weather, such as snow shovels, melting pavement salt, wave runners and boats. Our Town USA is more interested in targeting geographic locations that are located near the park in a 100-mile radius. They believe some customers will fly in from out of state, so in addition, they will target large-density areas nearby.

Demographic Segmentation

Demographic segmentation is extremely important to all marketing departments since the data is easily available and does drastically affect buying patterns. Age, income, gender, ethnic background and family life cycle are all important factors of demographic segmentation. The park is going to use an age range of 2-60 years of age so they can include kids, teens, parents and even grandparents. The income level would have to be middle to upper class - $50,000 annual income or above - since park tickets are very expensive. The amusement park is not a gender-specific product, and ethnicity will also not affect the overall plan.

The marketing team is very interested in the family life cycle sub-segments. Family life cycle segmentation is a series of stages determined by a combination of age, marital status and the number of children in a household. Obviously, the park is very interested in the family life cycle of young single, young married with kids, middle-aged married with kids, young divorced with children and middle-aged divorced with kids. They plan on advertising via social media and local cable ads where parents and kids congregate.

There are also key demographic groups that many marketers are very interested in, such as the tweens and Baby Boomers. The tweens are between the ages of 9 and 12 and have enormous spending potential due to their parents providing them with a large disposable income. The park will send out buy one, get one ticket free ads to local middle schools in order to reach the tween audience. The Baby Boomers are another demographic group that accounts for half of all spending in the United States. The group consists of people born between the years of 1946 and 1964. Many companies in real estate, travel and luxury items look to target the large and influential Baby Boomers. The park marketers have realized that many grandparents enjoy taking their grandchildren to amusement parks. They will advertise in local senior newspapers and provide park admission discounts to all senior citizens. The last defined group is called Generation X. This group was born after the Baby Boomers, and many in this segment are not loyal to brands and are turned off by most media advertising. Most have become parents themselves, so they have a lot of disposable income to spend on their kids. The amusement park knows that this segment might dislike flashy ads, so instead they are going to rely on family day pricing discounts.

Psychographic Segmentation

A very complicated way to segment the market is through using psychographics. Psychographicsegmentation is segmenting a market based on personality, motives and lifestyles. When the amusement park team identifies their target market's psychographic traits, they will look at consumers with personalities who enjoy fun, like spending time with their family, enjoy leisure time and are outgoing in nature. The television ad for the park will consist of people laughing, screaming on exciting rides and enjoying a day of freedom.

Benefit Segmentation

Marketers can also segment a market using benefit segmentation. This is dividing customers up by the benefit they get from using the product or service. For example, why do people go to amusement parks? Some benefits include getting thrills or excitement, spending time with the family or just relaxing. Depending on why the customer is visiting the park, the marketing team could provide a targeted promotional message. They could show all of the new, exciting roller coasters to the thrill seekers in an ad, or the kiddie rides to the families looking for a relaxing day out.

http://education-portal.com/academy/lesson/market-segmentation-geographic-demographic-psychographic-more.html

Unit 4, A04 Present a new media product and adverts/promotions to an audience and gain feedback

Preparing and delivering a presentation:
You will be marked on:

• delivery style and technique

• presentation delivery skills

• research, planning

• organisation of materials

Mark Scheme
Candidates carry out a well planned and rehearsed presentation (equipment had been thoroughly checked), which displays the product attractively and considers the needs of the audience, which is evident from the layout of the room. Candidates listen to the feedback provided by the audience. They lead the discussion and give informed answers.

Presentation preparartion

Create a questionnaire so you can get feedback on from your audience on the plan.
Which aspect is most effective, do you feel it is appropriate for my target audience, does the campaign fit in the brand, which aspects could be developed further, etc. and BRING IT TO THE TALK - spend time on the design make it look official (use your company logos)

Create a preparation sheet for the presentation - what will you need, where would you like the audience to sit, what equipment do you need, what equipment does the room have etc. This can take the form of a check list.

LOOK AT THE BELOW SHEET FOR WHAT YOU MARKETING PLAN SHOULD CONTAIN AND LOOK AT LAST YEARS WORK FOR IDEAS ON STRUCTURE AND PRESENTATION.

Word press embed code for the CAP Code

[scribd id=143062754 key=key-14y3j5vmb0vzl0sxshkj mode=scroll]

Full Bleed
Makes the most of the poster quality of the cover. The picture appears to be bigger than it is, suggests some idea of selection and choice of composition. Gives the idea of being extremely important (takes over the cover) and unspoiled.

Framed
Define the brand as the shape and layout of the magazine remain consistent.
Make the image smaller but draw the focus of the reader to the centre of the magazine. Frames are often uncommon so stand out on the newstand.

Logo Dominant
Suggests that the brand and voice of the magazine is more important than the specific content of that month.
Extremely strong brand presence.
Font choice and colour pallete has to be consistent and easy to scan.

Compromise
No one element is significantly bigger on the front cover.
Suggest that ALL content in the magazine is essential reading the editors could not decided on a hierarchy.
Opens up to a wide readership and tries to capture the enthusiasm, energy and passion of the magazine.

Multi-hit
Will have one main image but will also have a number of hits for different stories. This is attract a larger target audience and to represent the breadth of content that the magazine has.