P5-Explain How and Why groups are targeted for selected products Cont’d

Starter- Match the Keyword to the Definition 1.

Consumer 2.

Customer 3.

Purchasing decision 4.

Consumer markets 5.

Business to Business A. individuals or business which buy products or service B. One company selling to another company C. A person who uses the good or service D. Some people make decisions to buy on behalf of others E. Type of people who will use a product or service

Starter Answers

1. Consumer A person who uses the good or service 2. Customer individuals or business which buy products or service 3. Purchasing decision Some people make decisions to buy on behalf of others 4. Consumer markets Type of people who will use a product or service 5. Business to Business One company selling to another company

Lesson Objectives

• • Identify what is market segmentation Explain why it is important to business to segment their market (decide who to sell to) Lesson Outcome Some: Detailed Answer to question Most: PPT and Question All: PPT- with researched theory interpreted into own understanding

Questions

• • • • • • • • • • • What is Market Segmentation Categorise and split up the customers and consumers How is it carried out split it up by Why is it important to businesses to carry out segmentation So that they can have the products that the customers need It is important so that they can make money off When is it carried out Before we get the products How can markets be segmented (in what ways) What are business to business markets • • • How are business markets segmented DEMOGRAPHICALLY, we have to make sure that it is affordable How do businesses use segmentation to confirm their target market

• • • • • • Carry out research to find the answers to the questions.

You have a choice of research methods.

Choose your method Complete Task Make notes-complete power point Answer questions

What is market segmentation

How can markets be segmented

Why are they segmented

When are Markets segmented

How does a business choose a specific market to target

Why does it choose only a segment instead of targeting everyone

Who are the customers in business to business markets?

• How are these identified

How are business markets segmented, • why

Conclusion

• Explain how and why customer groups are targeted.

Video

• • • http://www.youtube.com/watch?v=ugIDVARa TNU&feature=related http://www.youtube.com/watch?v=XldD1T25 qnk&feature=related http://www.youtube.com/watch?v=hPaQYuz8 2Ns

Activity

• http://www.bized.co.uk/search/node/market %20segmentation

• What books Business L 3

Books

Where

Internet

• Keywords for search

Peers-Discussion

Starter Answers

1. Consumer 2. Customer 3. Purchasing decision 4. Consumer markets 5. Business to Business A. individuals or business which buy products or service B. One company selling to another company C. A person who uses the good or service D. Some people make decisions to buy on behalf of others E. Type of people who will use a product or service

What do you need to do?

• • Identify what is market segmentation Explain why it is important to business to segment their market (decide who to sell to )