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Learning Objectives. How confident do you feel about the objectives below? Scale 1- 8. OUTCOMES Explain what is meant by segmentation and sampling Identify and describe the different types of segmentation Select a suitable customer type for a range of products C+
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Learning Objectives How confident do you feel about the objectives below? Scale 1- 8 • OUTCOMES • Explain what is meant by segmentation and sampling • Identify and describe the different types of segmentation • Select a suitable customer type for a range of products • C+ • Explain why their chosen research methods for a given scenario, are appropriate • B+ • Justify the importance of knowing who your customer type is when developing and promoting a product • A+ • Analysethe effects of using a random sample for research • STARTER- JJB Sports Questions Understand how and why businesses identify market segments
Case Study Ruby was just 23 years of age. She came from a family of shopkeepers. Her mother owned a ladies fashion boutique, whilst her uncle owned a general grocery store. Having studied Food and Catering for three years at university, Ruby wanted to set up her own business. She decided that for her first business, she would set up a cafe just off the high street of a local parade of shops in her local area of London. Questions 1-2 – ALL students 3- SOME students
Market Segmentation http://www.youtube.com/watch?v=llJNwdV-G88
Segmentation Market segmentation is the process of dividing a market up into different groups of customers, in order to create different products to meet their specific needs. How might you segment the market?
Geographic segmentation is a simple form of market segmentation. Certain countries, regions, etc. are assumed to have common characteristics, which influence buying attitudes.
Demographic segmentation involves dividing the population into discrete segments either by age (e.g. for clothes retailing), or by sex (e.g. for the sale of cosmetics), or by family size (e.g. for selling different sizes of breakfast cereals), or by income group (e.g. in selling own-brand and manufacturers' brands in a supermarket), or by occupation (e.g. in selling life insurance to teachers or stunt drivers).
Psychographic segmentation is concerned with identifying personality traits and distinguishing characteristics in groups of the population. Examples are young and outgoing (for the sale of new forms of music) or grey and conservative (for classical and 60s music).
Behaviouristic segmentation looks at consumer behaviour patterns - frequent/infrequent purchase, loyalty to a product etc. For example, one segment of the market may always purchase your product while another is made up of people who switch frequently between brands. An experienced drinker may stick with Guinness, while an inexperienced on may try out a range of beers and stouts.
Age • Sex • Socio-economic – by social class and income
WILF How confident do you feel about the objectives below? Scale 1- 8 • Success Criteria • Explain what is meant by segmentation and sampling • Identify and describe the different types of segmentation • Select a suitable customer type for a range of products • MOST • Explain why their chosen research methods for a given scenario, are appropriate • SOME • Justify the importance of knowing who your customer type is when developing and promoting a product • Analyse the effects of using a random sample for research
Samplinghttp://www.youtube.com/watch?v=BJVOUXVAnGs • A small portion, piece, or segment selected as a sample • A technique of selecting a representative part of the population for determining characteristics Sampling is used when conducting market research i.e. You wouldn’t give everyone a questionnaire you would select a sample
Questions • Describe three forms of segmentation • Why would a business select their target market as a suitable sample when distributing a questionnaire? • What is a suitable sample for the school canteen if they were conducting customer research? • Select three products/ services of your choice e.g. Gym and describe their target market • How does sampling link with market research? Explain your answer fully MOST 6. Would you get effective research results if you took a random sample of people from town? Explain your answer fully SOME - Analyse
HOMEWORK REMINDER What research techniques would be appropriate for a small business opening a paint balling range in Bradford? (Justify your ideas) Due Monday
Plenary Formulate a question for each key word given Homework Over the weekend when you are watching TV focus on 4 adverts In your books tell me the following • What is the advert for? • When has it been shown? Would it be suitable at another time of day? Justify your answer • Who is the customer/ target market (e.g. gender, age...)? • What clues are in the advert?
WALT How confident do you feel about the objectives below? Scale 1- 8 • WILF - ALL • Explain what is meant by segmentation and sampling • Identify and describe the different types of segmentation • Select a suitable customer type for a range of products • MOST • Explain why their chosen research methods for a given scenario, are appropriate • SOME • Justify the importance of knowing who your customer type is when developing and promoting a product • Analyse the effects of using a random sample for research Understand how and why businesses identify market segments
