Market Mapping
- Created by: brunette
- Created on: 05-11-13 14:04
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- Market Mapping
- Identify market segments
- Benefits in terms of: product features, expense and quality
- Marketing Mix
- >Product >Place >Promotion >price
- Ways to segment consumer markets
- >Region >Age >Household size >Lifestyle >Benefits sought >Usage rate
- Organizational Markets
- >Location >NAICS code >Employee number >Benefits sought
- Target Market
- Is based on: >Marke size >Expected growth >Competitive position >Profit
- Identify gap in Market
- What is happening overseas?
- Customer needs?
- Is there a segment I could specialise in?
- How wold a brand new business break into this market?
- What are your opponent's weaknesses, what do they forget to do?
- Think differently
- Take a global view, there will be more gaps available to fill
- The importance of adding value
- Allows firms to market products easier, more successfully, emphasising strength of the brand as opposed to a commodity
- Identify market segments
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