What Sports Organization Can Benefit From Market Segmentation|Quick homework help
Posted: February 16th, 2023
If you choose a different sports organization from the one you chose for your final project, and describe three appropriate market segments that this organization should be marketing to and why. Search for articles related to market segmentation to support your discussion. After choosing those markets, create a ticket plan that would make sense for each of those segments. Possibly consider elements that may impact ticketing such as dynamic ticket pricing, health safety and protocols?
SOLUTION
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Market Segments:
- Families: One of the market segments that the NBA could target is families. According to a Nielsen Sports study, families make up a significant portion of the NBA’s fanbase, with 72% of parents saying that they watch basketball with their children. Therefore, the NBA could create a ticket plan that offers discounts for families, especially for games that take place on weekends or holidays. Additionally, the NBA could provide a family-friendly experience by offering interactive activities before and during the game, such as face painting, photo booths, and interactive games.
- Millennials: Another market segment that the NBA could target is millennials. According to a Forbes article, the NBA is the most popular sports league among millennials, with 45% of its fanbase falling in the 18-34 age range. To target this segment, the NBA could offer dynamic ticket pricing, which would allow fans to purchase tickets at different prices depending on the game’s demand. Additionally, the NBA could create a social media campaign that appeals to millennials, using platforms like Instagram and Twitter to showcase behind-the-scenes content, player interviews, and game highlights.
- Business professionals: The third market segment that the NBA could target is business professionals. According to a Nielsen Sports study, the NBA’s fanbase includes a significant number of business professionals, with 56% of fans holding white-collar jobs. To target this segment, the NBA could offer premium seating options, such as luxury suites or courtside seats, that cater to business professionals’ desire for exclusivity and high-end experiences. The NBA could also create networking events before or after games, where business professionals can connect with one another.
Ticket Plans:
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