Course	ME11 Entrepreneurship I
Essential Standard	3.00		Understand marketing strategies, unique value proposition, competitive advantage, and customer segments.
Indicator	3.03	Explain the concept of market and market identification (CS).
Essential Questions	How is a target market important to a business? What are advantages and disadvantages of mass marketing? What are advantages and disadvantages of using market segments and why is this use increasing? Why does an entrepreneur need to understand mass marketing vs. segmentation? What are demographic characteristics analyzed by marketers? What is the value of geographic and psychographic segmentation? What are types of behavioral segmentation?

UNPACKED CONTENT

Define the following terms: behavioral segmentation, demographic segmentation, geographic segmentation, market, market segmentation, marketing segments, mass marketing, psychographic segmentation, target market.
Explain the importance of target markets to businesses.
Describe advantages and disadvantages of mass marketing.
Describe advantages and disadvantages of using market segments.
Explain why the use of market segments is increasing.
Describe demographic characteristics that are analyzed by marketers.
Explain the value of geographic segmentation.
Discuss the value of psychographic segmentation.
Describe types of behavioral segmentation.