Market Segment: Demographic & Psychographic Info.
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Choose a "market segment". Research demographic and psychographic information about this segment.
In 250-500 words, describe the segment and what marketing opportunities you can associate with the segment.
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Solution Summary
This solution chooses a market segment and supplies demographic and psychographic information for it. APA references are included.
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I chose the triathlete as a market segment, the "fastest growing participatory sports community on the planet" (Tribe Events, 2009). Participation in triathlons has been increasing at a rate of 35.6 percent annually (Vertical Man, 2009). Nearly a million people make up this market segment, participating in events ranging from sprint distance triathlons to Iron man competitions.
Demographically, the segment is notable. The mean income of triathletes is $126,000 with a very high percentage of professionals. Unlike many consumers, triathletes spend cautiously, but on average spent as much during the economic downturn in 2009 as they did in 2008. Triathletes have a passion for purchasing to support their sport no matter what the economy is doing (USA Triathlon, 2009). 86 percent of the demographic have a 4-year college degree, 64 percent are male, and 36 percent are female (FastForwardRace.com, n.d.).The average age of a triathlete is late thirties, however, the older the racer the more races per year they tend to participate in. This is ...
Education
- BA, University of Southern California
- MSS, United States Sports Academy
- Ed.D, Boise State University
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