A part of a market that contains a group of buyers with similar characteristics is called a market.... A.orange B.section C.segment D.slice.

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Presentation transcript:

A part of a market that contains a group of buyers with similar characteristics is called a market.... A.orange B.section C.segment D.slice

A.orange B.section C.segment D.slice A part of a market that contains a group of buyers with similar characteristics is called a market....

TV shows are aimed at specific market segments. By AGE: In pairs rank the TV shows from those aimed at the youngest to the oldest. TV shows are aimed at specific market segments. By AGE: In pairs rank the TV shows from those aimed at the youngest to the oldest.

By analysing a market you draw a market map. A market map is a diagram that shows the range of possible positions for two features of a product. e.g. Low to high price and low to high quantity By analysing a market you draw a market map. A market map is a diagram that shows the range of possible positions for two features of a product. e.g. Low to high price and low to high quantity

In groups use the giant grids to construct a market map for either the chocolate or the soft drinks market. N.B. THERE IS NO 100% CORRECT ANSWER SO YOU NEED TO BE ABLE TO JUSTIFY YOUR DECISIONS! In groups use the giant grids to construct a market map for either the chocolate or the soft drinks market. N.B. THERE IS NO 100% CORRECT ANSWER SO YOU NEED TO BE ABLE TO JUSTIFY YOUR DECISIONS!

LUXURY EVERYDAY LIGHT FILLING

EXPENSIVE CHEAPER MODERN/ TRENDY TRADITIONAL

High fashion Conservative Young customersOlder customers

High fashion Conservative Young customersOlder customers

The idea of market mapping is to identify gaps, to show where a sector is overcrowded, and to stop a producer becoming over reliant on one sector. e.g. Mars Companies decide on the ‘right’ factors after careful market research. The idea of market mapping is to identify gaps, to show where a sector is overcrowded, and to stop a producer becoming over reliant on one sector. e.g. Mars Companies decide on the ‘right’ factors after careful market research.

Potential problems Perhaps there is a gap because there is no effective demand. So further market research may need to be carried out. Potential problems Perhaps there is a gap because there is no effective demand. So further market research may need to be carried out.