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Unit_4_Reading - Target Markets Segmentation and Evaluation...

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7 Target Markets: Segmentation and Evaluation OBJECTIVES 1 Learn what a market is. 2 Understand the differences among general targeting strategies. 3 Become familiar with the major segmentation variables. 4 Know what segment profiles are and how they are used. 5 Understand how to evaluate market segments. 6 Identify the factors that influence the selection of specific market segments for use as target markets. S o many target markets, so many marketing mixes. The cable television network Nick- elodeon—Nick for short—is seeking to satisfy a number of tough target markets. Tots want fun, engaging programs such as Blue’s Clues and Dora the Explorer. School-age viewers enjoy slightly wacky cartoons such as SpongeBob SquarePants. Preteen children—also known as tweens—tune in for programs like All That while older teens watch the celebrity specials. And parents want to be sure that Nick’s programs entertain without violence or sex when a child is holding the remote control. Nick’s marketing mix includes programming, advertising, and branded prod- ucts for each market. The result: high ratings and annual revenues exceeding $4 bil- lion. Every program presents new opportunities to give viewers a good experience and encourage them to tune in again and again. Nick is known for its in-depth marketing research and its careful control of animation and production. Because no one can pre- dict precisely which characters and shows will resonate with viewers, the net- work has had both tremendous successes and big disappointments. Management was surprised by the immediate and immense popularity of SpongeBob SquarePants, a phenomenon that has gone beyond television to spawn a full-length motion picture. However, children did not take to either the Ani- morphs series or the Noah Knows Best series. One Nick executive says these programs were “too talky and a little too old.” Even though millions of chil- dren and teens tune in every week, Nick’s future growth will have to come from sources other than television advertising revenue. “There are only so many hours in the network day,” explains the president of Nickelodeon Enterprises. “It’s constraining. At some point, you reach the limit of what you can do there.” ± Nickelodeon Targets Tots, Tweens, and Teens 114
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115 CHAPTER 7 Target Markets: Segmentation and Evaluation One lucrative approach is licensing Nick’s program-related brands for an ever- widening mix of goods and services, such as Nick Zone departments within JCPenney stores. Another is creating and licensing new brands that are unconnected with any of Nick’s shows. Nick’s EverGirl brand targeting tween girls, for example, is being licensed to manufacturers of clothing, school supplies, games, and bedroom accessories. EverGirl products are sold exclusively through Kohl’s department stores.
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Unit_4_Reading - Target Markets Segmentation and Evaluation...

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