Market Segmentation inthe Sporting Industry

Market Segmentation in the Sporting Industry
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Market segmentation is the process through which the business market or the broader business market is divided in such a way that the potential and existing customers are placed in consumer sub-groups based on their shared characteristics. To segment or divide the market, researchers look for the most common characteristics such as similar demographic profiles, similar lifestyles, common interests, and shared needs. The aim of performing market segmentation is to the segments with the highest yield, since they have higher growth potential and will be the most profitable (Shilbury & Westerbeek, 2003). After identifying these segments, special attention is given to them since they are treated as target markets.
In the sporting sector, the market segmentation process is widely employed since there is high competition rate which requires each sporting faction to identify the highest paying sporting segment within their sector to ensure that they make maximum profits. After segmenting this sector, the potential and existing customers will be connected with each other in a personalized way. In my experience, the most innovative segmentation ideas are based on age, sex, and region. A case example of market segmentation is whereby the sports entertainment industry is subdivided into public and private membership ensuring that members relate to each other in a personalized way (Shilbury & Westerbeek, 2003).

In the golfing sector, sports segmentation has been widely used whereby there are public and private golf courses. For the private golf clubs, only those with membership cards are allowed to access the golfing facility. Through this kind of segmentation, membership is given based on the pre-determined behavioral, psychographic, and demographic aspects which ensure that they relate on a personal level which leads to a harmonious group and a great growth potential (Funk, 2002). In most scenarios, these private golf clubs target the wealthy people in the society who prefer to maintain a low profile by minimizing contact to the least possible value.

References
Funk, D. C. (2002). Consumer-based marketing: The use of micro-segmentation strategies for understanding sports consumption. International Journal of Sports Marketing and Sponsorship, 4(3), 39-64.
Shilbury, D., Quick, S., & Westerbeek, H. (2003). Strategic sports marketing. Allen & Unwin.