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Exploring Market Mapping Strategies | Understand Market Features | Diagram Mapping

Learn the importance of market mapping in identifying market gaps, overcrowded sectors, and consumer preferences. Explore market maps and analyze popular chocolates' placements on the map to understand market positioning.

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Exploring Market Mapping Strategies | Understand Market Features | Diagram Mapping

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  1. Market Mapping Setting out the key features of the market on a diagram Unit One Market Mapping

  2. Objectives of the Lesson To understand how and why companies set out the key features of the market on a diagram Unit One Market Mapping

  3. What is Market Mapping? • Identifies the gaps in the market • Shows where a sector is overcrowded • Businesses spend substantial amounts to get it right

  4. What is a Market Map? • A grid that measures two different aspects of the brands within the market (e.g. young/old compared with luxury/economy)

  5. Looking at a Market Map Businesses use market research to look at a market e.g. the chocolate market and plot products onto the map. Can you put the chocolates in the right place? Luxury Chocolate Filling chocolate Light chocolate Everyday chocolate

  6. Fill in the Market Map… Turkish Delight Milk Tray Cadbury Snaps Mars Dairy Milk Smarties Crunchie Maltesers Twix Snickers Galaxy Kit Kat Cadbury’s Caramel Cadbury’s Celebrations Luxury Chocolate 12 13 11 14 1 2 10 Filling chocolate Light chocolate 3 9 4 7 8 5 6 Everyday chocolate

  7. While you think….

  8. Back to the Market Map… Turkish Delight Milk Tray Cadbury Snaps Mars Dairy Milk Smarties Crunchie Maltesers Twix Snickers Galaxy Kit Kat Cadbury’s Caramel Cadbury’s Celebrations Luxury Chocolate 12 13 11 14 1 2 10 Filling chocolate Light chocolate 3 9 4 7 8 5 6 Everyday chocolate

  9. Answers • Turkish Delight • Cadbury’s Caramel • Cadbury’s Dairy Milk • Snickers • Twix • Mars • Kit Kat • Smarties • Crunchie • Galaxy • Celebrations • Milk Tray • Cadbury Snaps • Maltesers

  10. What does this map show? • Mars is good at filling, everyday chocolate • Snickers • Twix • Mars But people are worrying about their weight, and so are buying…

  11. Did you get it? • They are buying Lighter chocolate e.g. • Crunchie • Maltesers • Cadbury Snaps

  12. Thinking time…Is there room for a new chocolate product?? • Is there room for something new in the market? • What could it be? • Why would you launch it?

  13. Identifying Market Map Key Factors • High priced/low priced • For the young/for the old • Modern/traditional • For men/for women

  14. Think about… • If you were to draw a market map for soft drinks, what factors could you use? • What benefits would a soft drinks company have from studying a market map? • Where would you put Coke??

  15. Market Mapping Setting out the key features of the market on a diagram Unit One Market Mapping

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