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P5-Explain How and Why groups are targeted for selected products
Cont’d
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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
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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
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Lesson Objectives
• Identify what is market segmentation• Explain why it is important to business to
segment their market (decide who to sell to)
Lesson OutcomeSome: Detailed Answer to questionMost: PPT and QuestionAll: PPT- with researched theory interpreted into
own understanding
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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
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• 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
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What is market segmentation
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How can markets be segmented
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Why are they segmented
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When are Markets segmented
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How does a business choose a specific market to target
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Why does it choose only a segment instead of targeting everyone
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Who are the customers in business to business markets?
• How are these identified
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How are business markets segmented,
• why
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Conclusion
• Explain how and why customer groups are targeted.
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Video
• http://www.youtube.com/watch?v=ugIDVARaTNU&feature=related
• http://www.youtube.com/watch?v=XldD1T25qnk&feature=related
• http://www.youtube.com/watch?v=hPaQYuz82Ns
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Activity
• http://www.bized.co.uk/search/node/market%20segmentation
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Books
What books Where• Business L 3
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Internet
• Keywords for search
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Peers-Discussion
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Starter Answers
1. Consumer2. Customer3. Purchasing decision4. Consumer markets5. 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
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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)