4 Market Position Market Niche – small part of an existing market Market Leader – maintain dominant position in the market?Market Follower – Follow the lead of the market leader – pricing, product development etcMarket Challenger – Seek to adopt strategies to challenge market leader’s position
6 Market Objectives Will involve/determine some or all of the following: Market PenetrationNew Product DevelopmentBrandingDiversificationSWOT AnalysisProduct Portfolio – Product Life Cycle, Boston MatrixMarketing Objectives for Pepsi?Title: Western goods sell well in China.Copyright: Getty Images available fromEducation Image Gallery.
8 Social Class Registrar General's Grouping: Class 1 – Higher managerial and professionalClass 2 – Lower Managerial and professionalClass 3 – Intermediate OccupationsClass 4 – Small employers, self employedClass 5 – Lower SupervisoryClass 6 – Semi RoutineClass 7 – RoutineClass 8 – Long term unemployed/never employed
9 Social Class A – Higher managerial, professional and administrative Institute of Practitioners in Advertising (IPA) GroupingA – Higher managerial, professional and administrativeB – Middle management, professional and administrativeC1 – Supervisory, clerical and junior managementC2 – Skilled Manual WorkersD – Semi and unskilled manual workersE – Pensioners, casual workers, unemployed
10 Social Class – New Groupings The National Statistics Socio-economic Classification Analytic Classes (NS-SEC)1. Higher managerial and professional occupations1.1 Large employers and higher managerial occupations1.2 Higher professional occupations2.Lower managerial and professional occupations3. Intermediate occupations4. Small employers and own account workers5. Lower supervisory and technical occupations6. Semi-routine occupations7. Routine occupations8. Never worked and long-term unemployed
12 Which Segment?Mass Markets – high volume, low margin goods – confectionary, cars, clothing, food stuffsMultiple Segments – appealing to wider range of groups – e.g. 4x4 vehicles – town, country, gender, lifestyle, social class?Single Segment – often a specialised product, e.g. machinery, exclusive goods