Market Segmentation: An Introduction

Market Segmentation: An Introduction

Ms. Nnah

​March 15, 2022

​Creative Promotions (10) 20S/20E/20M

Market Segmentation

• ​Meaning

• Basis​

• Definition of a Market

• Different Types of Markets

• Mass Marketing

Previously...

Expected Learning Outcome:

• Define a market segment and market segmentation in your own words.

• Identify the factors or personal characteristics that influence your choice of product brands.

• Link your personal characteristics and social identity to common consumer variables.

Today - March 15, 2022...

GLO 11.3: Demonstrate an understanding of the market​

• Handout: "Table of Consumer Variables"

• ​A notebook and pen/pencil

• A personal computer

• Access to the internet​

• ​Microsoft Teams

• Quizizz Learning Platform​

Resources for this lesson:

Attendance will be taken on the Quizizz platform.

• Thinking about the clothing and footwears that you bought recently or plan to buy, list at least two brands that you prefer to buy.

• ​What are some of the personal characteristics that influence your choice of products/brands? Think about your hobbies, how you like to dress, your part-time jobs, your likes/dislikes, your current stage of life, etc.

​Warm Up Activity

​Example:

​Brands	Personal Characteristics​
Long Tall Sally​ winter jacket	Tall woman​
​Nike basketball shoes	Parent of student-athletes​
​Clarks loafers	Preservice teacher

Open Ended

List at least two brands of clothing/footwears that you like to buy and mention some of the personal characteristics that influence your choice for these brands.

​Group Activity

​A market segment is a subgroup of people within a larger group who have similar characteristics which cause them to have similar product needs and brand preferences.

​Individual Activity

Now that you know what a market segment is, define "Market Segmentation"

in your own words.​

Definitions

A Market Segment is a subgroup of consumers within a larger group who have similar characteristics which cause them to have similar product needs and brand preferences.

​

​Market Segmentation is the process of separating the larger market into smaller markets or market segments that consist of similar groups of consumers.

​

Source: Better Business, Second Canadian Edition

Multiple Choice

Which of the following is the best definition for a market segment?

• A place where products and services are offered for sale.

• The way marketers communicate with their customers.

• A subgroup of consumers who share similar characteristics and therefore have similar product needs.

Basis for Segmentation

​​Which of the following factors affect your buying decision?

• What is the Levi's commercial about?

• How would you describe this brand in terms of price and quality?

• Levi's is talking the language of a specific group of buyers. Describe the characteristics of this group.

• Does this ad make you want to buy Levi's brand of clothing? Why or why not?

• In your own words, define Market segmentation.

• From the Table of Consumer Variables, identify at least, four variables that influence your choice of clothing/footwear (or any item) brands.

• Thinking about the brands and personal characteristics that you listed during the warm-up activity, identify, and write down the common variables that influence your choice for those brands.

• NEXT CLASS: The Importance of Market Segmentation / Four Categories of Market Segmentation.

​Exit Slip...

​Brands	Personal Characteristics​	Consumer Variables​
Long Tall Sally winter jacket	tall woman	​gender, benefits sought, brand loyalty
​No Name 5-kg Whole Wheat Flour	​parent of three teen student-athletes	​family size, lifestyle, volume usage, and price sensitivity

​Example:

Credits

Learning Platform: Quizizz

Handout: Better Business, 2nd Canadian Edition

​YouTube Videos:

• "An Introduction to Market Segmentation" by Kyle Murray

• ​"Buy Better, Wear Longer" by Levi's