Market Mapping

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  • 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


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