Market segmentation is the process of breaking down large markets into smaller needs and characteristics For examples high school males Companies.

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Presentation transcript:

Market segmentation is the process of breaking down large markets into smaller needs and characteristics For examples high school males Companies need to identify a market before production so they can gather as much information as possible to ensure success of the product or service Market Share is the position the product or service holds in the total market Geographic segmentation is the division of markets based on its location and the living habits of the people in that location

Market Segmentation Define Market Segmentation -Use pg. 43-49 of the handout and the previous notes to answer the following questions: Define Market Segmentation Why must a company segment the market and define a target market before developing or mass-producing products? Define Market Share Why is it important for a company to try and increase its market share? Define Geographical Segmentation What factors play a role in geographic segmentation Explain their role Define Psychographics.

Your Work Research a product that failed Get a picture In a paragraph: What was its market Why was the product launched… its niche Why did it fail