Market segmentation |
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Task 1
Review of independent work
Feedback to the class about what you discovered about the niche product you researched, i.e. its target market and the various segments of different needs and wants that make up the target market
Review of independent work
Feedback to the class about what you discovered about the niche product you researched, i.e. its target market and the various segments of different needs and wants that make up the target market
Key terms
Cashflow is the money going in and out of a business.
A strapline is a caption or heading often providing a brief and snappy overview of a product, service or news story.
In marketing when we refer to culture we mean the behaviours, habits and values of a group of individuals.
Cashflow is the money going in and out of a business.
A strapline is a caption or heading often providing a brief and snappy overview of a product, service or news story.
In marketing when we refer to culture we mean the behaviours, habits and values of a group of individuals.
Task 2
Case study: You work for Paddleboard adventure limited, a small firm that leases paddleboards, provides private paddleboard lessons and takes small groups on guided paddleboard tours. The business operates in 20 locations across Essex and plans to expand into Kent and Suffolk over the coming year. |
The business only has three staff, the owner, a finance officer, and you overseeing marketing. All other staff are self employed and paid per session that the operate. Before you meet with the owner to discuss the marketing campaign for the expansion, make note of the internal and external factors you will need to consider.
Stretch & challenge: Draft a brief outline for a suitable marketing campaign to complement Paddleboard adventure limited expansion.
Stretch & challenge: Draft a brief outline for a suitable marketing campaign to complement Paddleboard adventure limited expansion.
Internal
> Cost of campaign > Availability of finance > Staff expertise > Size and culture of the business |
External
> Social factors > Technological factors > Economic factors > Environmental factors > Political factors > Legal factors > Ethical factors |
Key terms
> When we discuss viral advertising or marketing we are referring to unsolicited and infectious marketing tactics using social media to attract interest.
> Disposable income is the amount of residual money available for non-essentials after paying bills and creditors such as credit cards and store cards.
> When we discuss viral advertising or marketing we are referring to unsolicited and infectious marketing tactics using social media to attract interest.
> Disposable income is the amount of residual money available for non-essentials after paying bills and creditors such as credit cards and store cards.