what is targeting in marketing management ? This question gives you more market sizing practice (it’s a skill you’ll need). Using the logic from the chapter targeting, try to estimate the possible market for the number of pairs of football pants a manufacturer could sell in your city. Hints: Go online and find the number of high schools in your city’s school districts. If you live in a large city, focus on only the largest school district. Assume that 90% of those high schools have both a varsity football team (with 40 players) and a junior varsity team (35). Assume also that each player gets 2 pairs of game pants (one in the dark school colors, and one in the light), and on average, 1.5 pairs of white pants for practice.
Targeting in marketing management refers to the process of identifying and selecting specific segments of a market to focus on with your products or services. This strategic approach allows businesses to allocate their resources effectively, tailor their marketing efforts, and ultimately maximize their chances of success. When it comes to market sizing, targeting plays a crucial role in narrowing down the potential customer base to estimate the size of the addressable market accurately.
To estimate the possible market for the number of pairs of football pants a manufacturer could sell in a given city, we need to employ targeting principles and make some assumptions based on available data. Let’s break down the process step by step:
Researching the City’s High Schools: To begin, we need to gather information about the number of high schools in the city. This information can typically be found online through city or school district websites, local government sources, or educational directories.
Assumptions for Estimation: For this estimation, we will make a few assumptions:
a. 90% High Schools with Football Teams: We assume that 90% of the high schools in the city have both varsity and junior varsity football teams. This is a reasonable assumption in many areas where football is a popular sport.
b. Team Sizes: We assume that each varsity football team has approximately 40 players, and each junior varsity team has around 35 players.
c. Number of Pants per Player: We assume that each football player needs 2 pairs of game pants (one in the dark school colors and one in the light) and, on average, 1.5 pairs of white pants for practice.
Calculations: Now, let’s calculate the potential market size for football pants in the city:
Number of High Schools with Football Teams = 90% of total high schools
Total Number of Players per High School = (40 varsity players + 35 junior varsity players) = 75 players per school
Total Number of Pairs of Game Pants per School = 75 players × 2 pairs/player = 150 pairs
Total Number of Pairs of Practice Pants per School = 75 players × 1.5 pairs/player = 112.5 pairs (rounding to 113 pairs for practical purposes)
Total Market Size: To estimate the possible market for football pants in the city, we can now multiply the number of high schools with football teams by the total number of pants needed per school:
Market Size = Number of High Schools with Football Teams × (Total Pairs of Game Pants + Total Pairs of Practice Pants)
This calculation will provide an estimate of the potential market for football pants in the city, considering the assumptions and data provided.
In conclusion, targeting in marketing management involves selecting specific segments to focus on, which is essential for estimating market size accurately. By researching high school data and making reasonable assumptions about football teams and player requirements, we can estimate the potential market for football pants in the city, helping manufacturers make informed marketing and production decisions.
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