Words to Think by...
“There is a simple way to package information
that, under the right circumstances, can make it
irresistible. All you have to do is find it.”
― Malcolm Gladwell, The Tipping Point: How
Little Things Can Make a Big Difference
The Market and Your Share Of It
Words You Need to Know
Market: People who share similar needs and wants and have the ABILITY to
buy the product or service
Consumer Market: Consumers who purchase goods and services for personal
use
Industrial Market: Referred to as “B2B”, business-to-business. This is when
businesses buy products for use in their operations.
Market Share: A company’s percentage of TOTAL SALES VOLUME generated by
all companies that compete in a given market.
U.S. Smartphone Market Share
as of August 8th
Total Sales
Apple 31%
Samsung 24%
HTC 15%
Motorola 12%
LG 6%
Others 12%
U.S. Fast Food Market Share
2011
Sales (billion)
McDonalds 50.4%
Wendy's
12.51%
Burger King 12.07%
Others 25.02%
Social Media Market Share- Fast Food Stores
Target Market
Target Market- A group identified for a specific marketing program
Market Segmentation: The process of classifying customers by specific
characteristics.
Why do company’s segment their markets?
Identify the Target Market
• Campbell’s Soup Ad
1.
http://youtu.be/sP8Ju2As3pQ
What is There TARGET MARKET?
2. http://youtu.be/17FjB2MGGz4
What is There TARGET MARKET?
The Marketing Mix
The Marketing Mix
(a.k.a. The 4 P’s of Marketing)
Product
Choosing what products to make
and sell
The rest of product development
Product design
Features
Brand Name
Packaging
Service
Warranty
Price
What consumers are WILLING and
ABLE to pay for the product.
Other Components
Discounts
Allowances to Suppliers
Promotional Pricing
Credit Terms
The Marketing Mix
(a.k.a. The 4 P’s of Marketing)
Place
The means of getting the product
into the customer’s hands
Other Components
Knowing where your TARGET Market
Shops
Sold Internationally?
Sold over the internet?
Sold by catalog order?
Sell through a Reseller
Promotion
Activities related to advertising,
personal selling, sales promotion
and publicity
Other Components
What Social Media?
Advertising Mix- how much t.v.?
What do you say about
product/company?
Size of Sales Force