3.01 Sports and Entertainment Marketing I

Market
A customer or potential customer who
has an unfulfilled desire and is financially able and willing to satisfy that desire.
Market Segmentation
Dividing the total market into smaller, more specific groups.
Target Marketing
The identification and selection of markets for a business or for a product.
Target Market
The particular group of customers that a business seeks to attract.
Geographic Segmentation
Dividing markets by where customers are located.
Demographic Segmentation
Dividing a market on the basis of its physical and social characteristics.
Psychographic Segmentation
Dividing a market on the basis of consumers’ lifestyles and personalities.
Behavioral Segmentation
Dividing a market on the basis of consumers’ response to a product.
Lifestyle
The way in which people lead their daily lives; determined by their income, interests, and activities.
Market Segment
One of the groups into which the total market is divided.
Mass Marketing
Designing products and directing marketing activities to appeal to the whole market.
Personality
An individual’s qualities or traits and behavior.
Niche Marketing
The subset of the market on which a specific product is focused.