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Starter
Which of the following is the definition of market
segment?
A) The number of people who buy goods from a
business.
B) The percentage of the market a business owns.
C) The amount of businesses in a particular market.
D) Part of a market that contains a group of buyers
with similar buying habits.
Starter
Price Sensitivity means.
A) When consumers dont like the price of a
good/service.
B) When the price does not matter in the decision to
buy or not to buy.
C) When the price is very important in the decision to
buy or not to buy.
D) When businesses cant decide on a price of their
product.
Product Ranges
Definition: Collection of different goods/services
that a business sells.
How many
30 seconds
Product Ranges
For each product decide on its market segment.
What do you notice about the
market segments for different
Cadburys products?
Product
Segment
Market Mapping
The challenge of an entrepreneur is to
position the product so that it meets the
needs & wants of customers.
Market Mapping
The market map illustrates the range of positions that a
product can take in a market based on two dimensions that
are important to customers
E.G.
High price v low price
Basic quality v High
quality
Low volume v high
volume
Necessity v
luxury
Light v heavy
Simple v
complex
Lo-tech v hightech
Young v Old
he
t
in t
p
Ga arke
M
Your Own
Market Map
High Quality
Low Price
High Price
High Quality
Low Price
High Price
Low Quality
Checkpoint
What is a market map?
Speed Analysis
Give 2 advantages and 2 disadvantages of having a
large product range.
Advantages
Disadvantages
Disadvantages