1008. Business Plan: Developing Your Target Market | DECA BPA FBLA

GRADE LEVELS 9th - 12th, Higher Education SUBJECTS Career and Technical Education, Marketing, Business RESOURCE TYPE Research, Activities, Projects FORMATS INCLUDED PDF PAGES 4 pages TEACHING DURATION 90 minutes --------------------------------------------------------------   The “Your Target Market” assignment objective is to help the student define a target market for a business product or service. Many CTSO competitive events have a written project that requires the students to. Projects like the DECA Innovation Plan, Start-up Business Plan, Independent Business Plan, Franchise Business Plan, and International Business Plan all must identify the “customer segment/target market” for their business. The question the students must answer is “What is an “target market” in reference to a business customer or consumer?” The “target market” is a group of people identified by a business with similar characteristics and traits to whom the business desires to market their product or service. A “target market” allows a company to tailor their business and marketing strategies to meet their overall company objectives.   TIME This activity is designed to span a 90-minute period inclusive of research, collaboration, development, and observation. PRODUCT CONTENT Instructional Handout Target Market Graphic Organizer Grading Sheet MARKETING STANDARDS TEKS 130.382. Advertising (2) The student knows the importance of marketing as well as the functions of marketing. The student is expected to: (C) identify the importance of target markets.  130.383. Fashion Marketing (2) The student knows the importance and functions of marketing. The student is expected to: (B) describe advantages and disadvantages of market segmentation and mass marketing.  130.386. Sports and Entertainment Marketing (3) The student knows the importance of marketing as well as the functions of marketing. The student is expected to: (D) express the importance of target markets. (E) describe advantages and disadvantages of market segmentation and mass marketing. 130.387. Practicum in Marketing (5) The student knows the concepts and strategies used to determine target markets and market identification. The student is expected to: (A) explain the importance of target markets. (B) compare and contrast advantages and disadvantages of market segmentation and mass marketing. (C) distinguish among geographic, demographic, psychographic, and behavioral segmentation.   Become a part of the Marketing EdVenture® community clicking each link below and following. Facebook Instagram Twitter YouTube Marketing EdVenture® Website jwalker@marketingedventure.com   TERMS OF USE By purchasing this resource, you are agreeing that the contents are the property of Marketing EdVenture®, owned by Jacqueline P. Walker, and licensed to you only for classroom/personal use as a single user. I retain the copyright and reserve all rights to this product.  Thanks so much for spending a moment of your time with me. I look forward to more engagement.   Have a wonderfully blessed day, Jacqueline P. Walker Marketing EdVenture®