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http://www.business.govt.nz/tools-and-templates/educational-resources/target-marketing

ACTIVITY 1 Understanding the concept

Read through the Target Marketing topic hand out with class before asking students to match the products and services listed in Activity 1 of the student worksheet with appropriate market segments. Students can research the products online, but must describe in writing the target customers for each offering, including any behavioural traits.

Students can present their answers individually or in groups for class discussion. There are no right or wrong answers, but if students struggle to identify a target market brain-storm with the class the kind of characteristics a realistic target market would have for the product.

ACTIVITY 2 Putting theory into practice

Have students read the hypothetical product and target market description in Activity 2 of the Target Market student worksheet and write down an appropriate marketing plan for the product. Answers should address the 4 Ps – Product, Price, Place and Promotion (for more detail see Marketing topic hand out). Answers can be individually marked or presented to class.

Resources

- www.business.govt.nz/tools-and-templates/educational-resources/target-marketing/Student%20handout.doc
- www.business.govt.nz/tools-and-templates/educational-resources/target-marketing/Student%20worksheet.doc
- www.business.govt.nz/managing/marketing

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  • A wider lesson on Marketing can be found online at www.business.govt.nz/tools-and-templates/educational-resources/marketing
  • Business.govt.nz marketing articles, online tools and templates can be found at www.business.govt.nz/managing/marketing

Transcript

  • 1. Target Marketing
  • 2. What is target marketing? The practice of identifying a product’s ideal customer and targeting them to maximise sales www.business.govt.nz
  • 3. Market segments can be defined by:- Geography- Income- Age- Sex- Personal interests…anything universal among the group of customers www.business.govt.nz
  • 4. Customer researchEntrepreneurs need to researchtheir target markets beforelaunching a businessMany don’t, however, andstruggle to realise the potentialof their product or servicewww.business.govt.nz
  • 5. Researching existing customersTalking to repeat customerscan help businesses identifywhat traits and habits unitethem as a market segment…They can then use thatknowledge to attract morepeople like them to theirproductwww.business.govt.nz
  • 6. Customer databasesDatabases not only helpbusinesses recognisecustomer segment traits, theycan also record buyingpatternsThese help businessesidentify more of theircustomers’ needswww.business.govt.nz
  • 7. Finding more ideal customersBusinesses often export orgo online with e-commercewebsites to gain access tomore of the customerstheir products targetwww.business.govt.nz
  • 8. Competitor researchWho are your rivals targeting?Can you do it better thanthem?www.business.govt.nz
  • 9. Re-visit unviable marketsMarkets are alwaysevolvingWhat wasn’t a viable ideayesterday might be viabletoday
  • 10. Adapt to untapped marketsCan you apply yourproduct, service, assets orknowledge in a differentway to meet the needs ofan entirely new marketsegment?www.business.govt.nz
  • 11. Creating a marketSometimes, an innovativenew product isn’tdesigned with a customersegment in mindThese products can onlysucceed by creatingdemandwww.business.govt.nz
  • 12. Find Out MoreFacebook.com/business.govt.nzTwitter.com/business_govtNZLinkedin.com/company/business-govt-nzSlideshare.net/MED-Businessbusiness.govt.nz