Market Analysis

Market Analysis

Market Position

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, etc. Market Challenger – Seek to adopt strategies to

challenge market leader’s position

Market Objectives

Market Objectives

Will involve/determine some or all of the following: Market Penetration New Product Development Branding Diversification SWOT Analysis Product Portfolio – Product

Life Cycle, Boston Matrix

Market Segments

Social Class

Registrar General's Grouping: Class 1 – Higher managerial and professional Class 2 – Lower Managerial and professional Class 3 – Intermediate Occupations Class 4 – Small employers, self employed Class 5 – Lower Supervisory Class 6 – Semi Routine Class 7 – Routine Class 8 – Long term unemployed/never employed

Social Class Institute of Practitioners in Advertising (IPA) Grouping

A – Higher managerial, professional and administrative B – Middle management, professional and administrative C1 – Supervisory, clerical and junior management C2 – Skilled Manual Workers D – Semi and unskilled manual workers E – Pensioners, casual workers, unemployed

Social Class – New Groupings

The National Statistics Socio-economic Classification Analytic Classes (NS-SEC)

1. Higher managerial and professional occupations 1.1 Large employers and higher managerial occupations 1.2 Higher professional occupations

2.Lower managerial and professional occupations 3. Intermediate occupations 4. Small employers and own account workers 5. Lower supervisory and technical occupations 6. Semi-routine occupations 7. Routine occupations 8. Never worked and long-term unemployed

Which Segment?

Which Segment?

Mass Markets – high volume, low margin goods – confectionary, cars, clothing, food stuffs

Multiple 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

Market Structure

Market Structure

Nature of the market structure determines marketing strategy: Pricing strategy Branding? Product Differentiation? Market Penetration? Market Skimming? Direct Selling?