Market, Market Share and Market Segmentation

First Let's Review Some topics we learned in the past

​

​

​Some text here about the topic of discussion.

​How well do you remember our last lessons???

​

Fill in the Blank

Let's review: ____________ are tangible items that have monetary value to satisty your wants and needs.

Multiple Choice

____________ is the effort to inform, persuade , or remind current and potential customers about a businesses' products or services.

• Pricing

• Promotion

• Channel Management

• Selling

Fill in the Blank

_______ are intangible items that have monetary value and satisfy your wants and needs.

Multiple Choice

_____________ relys on good information about customers, trends and competing products.

• Marketing information management

• Pricing

• Channel Management

• Selling

Multiple Choice

Another name for Channel Management is______.

• Distribution

• Proximation

• Disertation

• Resignation

Multiple Choice

The Marketing Mix is also known as the :

• 6 P's

• 7 G's

• 4 P's/5 P's

• The Golden Comet Mix

Multiple Choice

The Marketing concept: Idea that a business should try to satisfy _______ needs and wants while generating a ______ for the business.

• Owner's ,

  Fame

• Customer's,

  Loss

• The Business,

  Game

• Customer's ,

  Profit

-In the 21st century marketplace, a company's relationship with its customer is most important​

-It may be the main factor that determines whether a company is succesful​

​​

​

​Customer Relationship Management (CRM)

​

​Through databases and computer technology

​

Information about people who have purchased the product

​

​

​

​

Customer Information​

​Assistance and Advice to your customers

​

Give examples of customer service​

​​Customer Service

​R

​Marketing Communications​​Includes:

Advertising, direct marketing, branding, packaging, your online presence, printed materials, PR activities and more

​CRM Combines

​The 80/20 Rule

Have you heard of the 80/20 Rule?​

• ​Define market share, market segmentation and target market

• Describe how marketers use knowledge of the market to sell products​

• ​​Research the market share of a product and compile visually

  ​

Lesson Objectives:​

• ​Explain ways that segmentation can be used to identify target markets

​

• Identify the tools of market segmentation (e.g., demographics, psychographics, and geographics)

​

​

Standards​:

​ Fundamentals of Marketing:

Market and Market Identification

​

Lesson 1 part 3​

​-Marketers design products to satisfy customer's wants and needs

-They know not all customers will want their product or service

-They identify those people who want their product and have the ability to pay for it.

-All people who share similar needs and wants and who have the ability to purchase a product are a market​

​

Are you part of the market for video games?

Are you part of the market for an expensive car?

​

​

​

​A Market- learning key terminology

Open Ended

Name 3 Markets you are a part of...

ex. I am a part of the Online TV streaming market because I have Netflix and Amazon Prime subscriptions.

Differnt Types of Markets:

​

Consumer and Organizational Markets​

Let's learn more...​

​Some text here about the topic of discussion.

​Consumer Markets

​

Consumer markets consist of consumers who purchase goods and services for ​personal use.

Categories: Reflect their lifestyle

Interested in products that:

ex. save them money​

​

​

Open Ended

Come up with as many categories you think consumers' wants and needs fall into

ex. save money

​ 1. Saves Money

2. Make their lives easier

3. Make them look better/ improve apperance

4. Create status

5. Provide satisfaction​

​Subcategories

​Examples of products customers are interested in:

What products make people look better?​ Do you buy things to make you look better?

The Organizational Market or Business -to-Business (B2B Market)​

Refers to all businesses that buy products for use in their operations

-The goal of business firms are quite different from those in consumer markets

-Most goals have to do with improving profits

-Increasing productivity, increasing sales, decreasing expenses or increasing efficiency​

Subject | Subject

Some text here about the topic of discussion

Open Ended

How might you change your marketing strategy to appeal to B2B buyers?

​A

Market Share

​

A market is further described by THE TOTAL SALES in a product category

​

What is the total sales in the smartphone market?​

​​

Multiple Choice

Which car brand do you think has the biggest market share in the UAE? ( 30%)

• Mercedes

• Nissan

• Toyota

• Volkswagen

Multiple Choice

Which Body type was most in demand in 2021

• SUV

• Truck

• Sedan

• Coupe

Multiple Choice

Which coffe bean type has the biggest share of the market in the UAE?

• Robusta

• Arabica

Multiple Choice

The combined market share of Caffe Nero, Cafe Bateel, Caribou Coffee, Costa Coffee, Dunkin Donuts, Gloria Jean’s Coffee, Krispy Kreme, and Blends and Brews, Starbucks, and Tim Hortons in the UAE is ____________%

• 50%

• 99%

• 60%

• 82%

Multiple Choice

The UAE luxury goods market size reached US$ _______ in 2021

• 3.5 Billion

• 1 Billion

• 750 Million

• 22 Billion

Multiple Choice

Which Smartphone company has the largest % of smartphone sales

• Apple

• Samsung

• Oppo

• Xiaomi

​Market Leader:

28.14% of all Smartphone sales​

Samsung​

​

Second place: ​

​Apple

​

27.49%​

​12.86%

Xiaomi​

Market Share: The percentage of the total sales volume generated by all companies that compete in that market.

Market share changes all the time

-New competitors enter the market

-Size of market can increase or decrease

-Player with large share of market can afford to take risks others cannot ex. develop new products that are more adventourous

​

Some text here about the topic of discussion

What is Market Segmentation?

Some text here about the topic of discussion

​Some text here about the topic of discussion.

​Segmenting or Breaking down the market into smaller groups with similar characteristics

​

Open Ended

What are some potential market segments?

Ie. Mothers, Teens, Gamers etc

​Most Common ways of Segmenting:

​

Geographic: nations,states,regions,cities,neighborhoods,zip codes,etc.

​

• Demographic: age,gender,family size,income,occupation,education,religion,

• ethnicity,and nationality.

  ​

• Psychographic: lifestyle, personality, attitudes, and social class.

  ​

• Behavioral: user status,purchase occasion,loyalty,readiness to buy.

​Some text here about the topic of discussion.

​Goal of Market Segmentation: Find Target Market

​

The group of people most likely to become customers

​

The group identified for a specific marketing program

Very important-all marketing strategies apply to them

​

​

​

Without identifying a target market, marketing plan has no focus

Some text here about the topic of discussion

Open Ended

Who do you think Apple's target market is?

Apple's Target Market

Millenials, Students, Tech-Savy​

The target audience of Apple is millennials and teenagers.

​Young and wealthy individuals are tech-savvy and want to keep themselves updated with the latest technology.

Besides this, the university and college students are also their target audience.​

Open Ended

Who do you think Starbuck's target market is?

​It is widely popular among young adults and tweens.

​

However, the target audience of Starbucks spans far more than this. The target market of Starbucks includes coffee enthusiasts as well as men and women aged between 24 and 44.

​

These are the people who are on the lookout for a relaxing environment between their work and home where they can wire down with a cup of custom-made coffee.

​Starbuck's Target Market

Open Ended

Who do you think Nike's target market is?

​Nike's Target Markets

​Nike is the most renowned sports apparel company in the world.

It is considered to be the most reliable when it comes to sports accessories and shoes.

It has spread its wings to different parts of the world and has expanded its target audience as well.

​

The main market for Nike is sports fans and athletes. They are the ones who are in need of acquiring sports accessories.

​

Other than that, the target audience of Nike also has people who occasionally exercise as well as people who want to get fit.

​

Nike makes full use of digital media to reach out to people and increase their target audience.

​

Recently, Nike launched its hijab campaign which was directed at Muslim women.

Multiple Choice

Who do you think is Amazon's target Market?

• Everyone of all ages

• Men 17-35

• Women aged 35-49

• Everyone age 15-50

​Activity Time

​

​

Task 1: ​Find 2 Advertisements and place on a flyer- who do you think is the target market for each ad? why?

Upload on Teams Marketing channel under student work ( 10 minutes)

​

Task 2: Create 3 different target ​markets for the following products using market segmenting categories:

1. Cereal

2. Football

3. Shampoo​

​

​

​

​

​

​

​

Subject | Subject

Some text here about the topic of discussion