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.© BrainMass Inc. brainmass.com October 25, 2018, 7:28 am ad1c9bdddf
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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 ...
This solution chooses a market segment and supplies demographic and psychographic information for it. APA references are included.
Psychographic and demographic information used in marketing
How are psychographic and demographic information used in conjunction with each other to develop marketing strategy?View Full Posting Details