1. Segmenting Markets

2. How many ways can you think of in which buyers and sellers come together to carry out transactions (of any product/service)?

3. Definition of ‘the market’
“Place where buyers and sellers come together”

4. How Tesco ensure their products appeals to a wide range of people in the market

5. Definition of ‘Market Segmentation’
“the classification of customers or potential customers in to groups or sub groups (market segments) each of which responds differently to different products or marketing approaches. Each segment contains people who share common traits”

6. How can markets be ‘segmented’ by firms?
Age
Gender
Social Class
A = Professional
B = Managerial/Technical
C1 = Skilled non manual
C2 = Skilled manual
D = partly skilled
E = unskilled
Residential (ACORN – A classification of residential neighbourhoods)
Geographical i.e. regional differences in taste/requirements

7. Task: Firms to allocate out: A car manufacturer
A soft drinks company e.g. Coco-Cola or Pepsico
Adidas
‘Arcadia’ fashion retail group
Trinity Mirror Group
Choose one of the firms and in your groups look in to how they segment their product range.
Create a poster showing different products/ advertisements and the market segments they are marketed to appeal to.