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

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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?