Market analysis -9.1.2021

• Economie
• Secondary Education

Find the difference between market analysis and industry analysis.

CHapter 6: Market Analysis

Pages 

Objectives

Identify the goods and services which are specialized

Analyze the marketing ethics

Discuss the guidelines used when segmenting the target market

Market Analysis

A market is defined by the customers for a particular product or

service. Thorough market analysis requires that you examine your market from two different perspectives. You need to identify prospective  customers and determine their buying habits.

Directions The first step in doing a market analysis is identification of your market. Your market is the group of people or companies who have a demand for your product and are

willing and able to buy it. In order to make the most effective and efficient appeal to

potential customers, you should divide the total market into smaller segments. You can

then appeal to the special interests or needs of one of those segments—your target market.

Market analysts have coined terms to refer to specific market segments. Some of these

are listed below and on the next page. For each group listed, identify three specialized

goods or services that would have a special appeal, then explain why.

Target group
1.Dinks
Description
Double income ,no kids

Target group
1. Woofs 2. Well off , over fifty

Situation Your company makes baked goods
for hotels, restaurants, and other service industries.  Your products include cakes, cookies,  pies, breads, and assorted sweet rolls. Business has dropped off lately and you are looking for other markets for your products.

Advertising Your Business You have the opportunity to buy television commercial time 

at a local cable station. You can choose to air your commercials during the Saturday morning 

children’s segment or during the evening news segment. The station has more viewers during the Saturday morning segment.

Marketing to Children Children under 12
have a big influence on what products their 

families purchase. Because of this, many people
believe it is unethical to market unhealthful 

foods that are high in sugar and fat to children.
Do you agree?

1. Would you choose to market foods high in sugar and fat content to children? 

2. Write a television news story to explain
your reasoning.

Answer here

________________is the study of the market based on where customers live.

1. Pyschographics
2. Buying charactteristics
3. Demographics
4. Geographics

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Market segments, or subgroups of buyers who have similar characteristics.

Market segmentation is the process of grouping a market into smaller subgroups defined by specific characteristics.

The particular group of customers of interest to you is the target market.

What are the guidelines used when segmenting the target market?

Customers who buy goods or services for business use make
up ____________.

What are buying characteristics of customer?

Give the main points of the lesson.