Target Market Insights for Food Event Planning and Engagement
School
East Mecklenburg High**We aren't endorsed by this school
Course
MKT 51
Subject
Marketing
Date
Dec 10, 2024
Pages
4
Uploaded by AgentField15725
SEM I PBM PlanningName:2.00 - EngagementPART A - AudienceWhat is a target market? Food enthusiasts and Local community.What are the four ways a market can be segmented?Demographic, Geographic, Psychographic, and Behavioral.Who is the target audience/market for your event? (describe who you are trying to get to attend) 1.Food enthusiasts - People who enjoy eating and be presented a variety and special kind of dishes.2.Local Community - The residents nearby given a reason to hang out together at a local event, including food.How did you determine this target audience/market? (using the 4 types of segments, determine your target audience)Demographic- Primarily adults aged 18-55, with a focus on young adults and middle-aged adults who are interested in cooking and food. Middle to upper-middle income individuals who can afford to participate in the competition or attend as spectators.Geographic- Primarily targeting the local community where the event is being held. This could include residents of nearby neighborhoods, towns, or even neighboring cities, depending on the scale of the event and the expectedreach.Psychographic- Active individuals who enjoy social activities, food, and cooking. People interested in food, cooking, and culinary arts. Individuals who appreciate creativity, skill, and competition.Behavioral- Frequent cooks and those who enjoy trying new recipes and techniques. People looking for entertainment, inspiration, and the opportunity tolearn new cooking skills.
Explain the methods of segmentation you used to define your market. (definitions of the 4 segments)Segmentation Used:Demographic - Age, Gender, and IncomeGeographic - LocationPsychographic - Lifestyle, Interests, and ValuesBehavioral - Usage Rate and Benefits SoughtPART B - MotivesWhat is the difference between a spectator and participant?A participant is someone who actually involves themself into the event, committing to the activity when brought around.A spectator just watches and cheers.Match the following motives with their description: (highlight the word and definition in the same color)Rational Motives Emotional Motives Patronage MotivesBased on loyalty.Based on facts/logical reasoning.Based on feelings.What is the difference between intrinsic and extrinsic motivation?Intrinsic motivation comes from within the person. It's like their drive; what keeps them going. ex. hobbies or passions.Extrinsic motivation comes from outside the person. To earn a reward; avoid punishment. ex. studying or working.What factors will motivate spectators to attend yourevent? List the motivating factors, then explain your reasoning.
SPECTATORSRational MotivesEmotional MotivesPatronage MotivesUnique dishes and people.Promising small names(Participants)cooks/judgesRationale: Coming to a cooking competition will provide a unique experience. The same amount of people, with the exact dishes/judges/participants will be exactly the same.Rationale: Probably some small businesses/cooks from the community decide to join the competition connecting emotionally with the audience/community.Rationale: If they have a preferred cook or judge that they value, they can come to see their actions and hear their thoughts/opinions.Intrinsic MotivesExtrinsic MotivesInterest in culinary arts, food, and social experience.Free food samples, prizes and giveaways and entertainment.Rationale: Some may be drawn to other aspects such as the true art of cooking, creativity and skill. Some just love food and interacting with others.Rationale: Promise of delicious food and chance to win prizes. Maybe an extra side event with it will catch moreattention.What factors will motivate participants to attend/engage in your event? List the motivating factors, then explain your reasoning. PARTICIPANTS
Rational MotivesEmotional MotivesPatronage MotivesExperience and ExposureCompetetors and JudgesPride of a Cook.Passions and Drive.Rationale: A way to grow and explore new skills, dishes, and tactics, as they exposed to otherpeople, like the judges and people in the crowd.Rationale: The connection of admiration they have towards them.Rationale: Usually cooks say they cannot skip a competition to help them grow or showcase their skills and expand their view on how culinary impacts the world.Intrinsic MotivesExtrinsic MotivesPassion for cooking. To challenge themself. Prizes, awards, fame, exposure, and networking opportunity.Rationale: To cook and showcase their skills. To challenge themselves and see how far they reach or how much progress they’ve made.Rationale: Chances to win prizes and earn fame among others. Exposing themselves to the public and other places, including the networking opportunities with the others.