Identifying the target of an event is of utmost importance for a successful and smooth event. Having clear targets helps in choosing correct strategy, promotion, price and place.
In order to select our target we firstly need to segment our market. Segmentation is one of the least understood marketing techniques.
A market could be segmented on the basis of
- Geography
- Demographics
- Psychographics
- Behaviour
Behavioral Segmentation is what business schools teach as the best method to select a target.
Next step is to choose one (or more) segment and to position in it. Segments must be Measurable, Reachable, Profitable, Accessible.
As said before segmentation identifies target segments which exemplifies the 4p’s decisions. In regard to promotional decisions a behavioral segmentation is strongly connected to a tool that helps in Promotion decision, the Rossiter and Percy Grid.
Such grid is the basis to better understand motivations and behavior behind our event participant.
More on the R&P to come
