Global Niche Markets http://www.wired.com/2014/0 1/starbucks-big-plan-to-be- your-cozy-neighborhood- coffee-shop/

Slides:

Advertisements

Similar presentations

Definition Competitive Advantage

Advertisements

Copyright 2005 – Biz/ed Marketing in the Travel and Tourism Industry BTEC Travel and Tourism.

Niche Markets. What is a niche market? Niche marketing is the process of finding and serving profitable market segments and designing custom-made products.

UNDERSTANDING THE MARKETING CONCEPT In order to make a profit, a business must focus all of it’s efforts on satisfying the needs and wants of it’s customers.

4 P’s of Marketing.

DIRECT MARKETING: FACTORS FOR GROWTH Niche marketing Availability of specialized media Proliferation of computerized databases Worldwide telecommunications.

Ms. Park. 1. Market Analysis 2. Market Selection 3. Marketing Mix.

Marketing. Today…  What is a market?  What is marketing?  Role of Marketing  Marketing Objectives  Marketing Activities.

Market Segmentation Introduction to Business & Marketing.

Chapter 10 Marketing.

MKT 202, Taufique Hossain Strategic Planning for Competitive Advantage.

Chapter 28: Effective Marketing. Purposes of Marketing Anticipating customers’ wants (Market research) Satisfying customers’ wants in a way that delights.

Marketing Process Understand the marketplace and customer needs Design a customer driven marketing strategy Develop an integrated marketing mix program.

Marketing in today’s economy (week 1) Dr. Ananda Sabil Hussein.

The World of Marketing Standard 1 Objective 1. Marketing Marketing is the activity, set of institutions, and processes for creating, communicating, delivering,

© 2012 McGraw-Hill Ryerson Ltd. Forms of Market Segmentation Mass marketing Segment marketing Niche marketing Individualized marketing 0 LO 2.

Target I can explain the characteristics of each stage of the product life cycle.

The goods and services a business will offer to its customers Informing, reminding, and persuading customers of the goods and services available to them.

Rosie De LeonMike DiazErica WilliamsGeorgeRowdy D&D Travel Inc.

THE MARKETING MIX. What is the Marketing Mix? The operational part of a marketing plan Set of controllable marketing tools Used to produced desired response.

Copyright 2005 – Biz/ed The Marketing Mix in Travel and Tourism 1 BTEC Travel and Tourism.

MARKETING A SOCIAL DEFINITION: Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering,

Marketing Concept & Mix. Review Marketing Functions:  Pricing  Selling  Distributing  Promoting  Marketing information management  Product/service.

Lesson 2 – Market Segmentation and Marketing Mix.

Chapter 2Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved 1 MKTG 201 Designed by Amy McGuire, B-books, Ltd. Prepared.

* * Chapter Thirteen Marketing: Helping Buyers Buy Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

Target Market - Review What is a market? ◦ People who share similar needs and wants and have the ability to purchase a given product are a market What.

Marketing September 16, Notes - Marketing Mix Marketing Mix Activity.

MARKETING MIX. What is Marketing Mix? The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet.

The Marketing Mix. 4.2 Marketing Applications The Marketing Mix: Consists of variables controlled by marketing professionals in an effort to satisfy the.

Module – 2 The Rural Consumer

Theme 1: Marketing & People This theme enables students to understand how businesses identify opportunities and to explore how businesses focus on developing.

Market Segmentation ‘you cannot please all of the people all of the time’

WF SEM I 3.01 Target Markets. Having a Successful SEM Event Satisfy customer wants –Interested in event –Willing to pay ticket price –Willing to travel.

Products, Markets and Advertising Products, Markets and Advertising.

Objective 3.04 A Select a target market appropriate for venture/product to obtain the best return on marketing investment.

Global Marketing 4.4 Global marketing.

Presentation on Marketing Mix

Niche v Mass Marketing.

Developing the Marketing Strategy.

Retailing Aim: How do retailers set themselves apart, even though they do not produce products? Do Now: Describe your favorite department store. Why.

Unit 1: MARKETING SEGMENTATION (2) 18/05/2018.

Reasons for Staying Small

Name of the Business…. The product is….

International Business

International Business

MARKETING MANAGEMENT 12th edition

Economic Value Creation

Nat 5 Business Management - Marketing

تهيه كننده : دكتر محمد مظهري

The Marketing Mix Promotion

Segmentation Targeting and Positioning

Chapter 2 the marketing plan Section 2.1 Marketing Planning

إدارة التسويق.

Behind the Numbers Better information More current information

Price Elasticity Using Coffee Example

Marketing Concept 1-3.

Marketing & Sales Strategy & Planning.

Marketing Name ___________ 5-3 Questions

Marketing Your Product/Service

The International Marketing Mix

CONTIGENCY FRAMEWORK FOR STRATEGIC SPORTS MARKETING

1. Why Marketing Research?

Streamlined Business Plan For (Business Name)

2 Questions What product do you buy regularly?

Advertising as a process

1.1 Meeting customer needs

1.1 Meeting customer needs

Presentation transcript:

Global Niche Markets http://www.wired.com/2014/0 1/starbucks-big-plan-to-be- your-cozy-neighborhood- coffee-shop/

Global Niche Market What are niche markets? What are global niche markets?

Features of Global Niche Markets High quality Customer experience Expertise Prioritising profit rather than market share Innovation

Features of global niche markets Global market niches are subcultures in world society. These share common interests and can be identified as market segments on a global scale. Although a niche targets a smaller market, on a global scale this can be sizeable. This is particularly profitable when we recognise that these are likely to be highly differentiated products rather than low cost. This means that the world’s wealthiest consumers can be targeted, with the quality of the product being the most important factor. http://www.bbc.co.uk/news/world-asia-china-19415655 http://www.bloomberg.com/news/videos/2015-05-10/designing-a-super-yacht-for-china-s-super-rich http://www.bbc.co.uk/news/business-13346599 Are the Chinese super rich a niche market?

How are virgin niche? Are they global? Why?

How have niche businesses gone global? E-commerce Social media Ease of travel

Application to the marketing mix PRICE PRODUCT PLACE PROMOTION