RECOGNIZE

A
POTENTIAL
MARKET
MARKET ANALYSIS
is a quantitative and qualitative
assessment of a market ability
to respond positively.

1.DEMOGRAPHIC SEGMENTATION
2.TARGET MARKET
3.RECOGNIZING THE TARGET
MARKET
4.RESEARCH THE COMPETITION
 DEMOGRAPHIC
SEGMENTATION
Dividing the total peo
ple in the market
b a s e d on the custom
er demographics.
Demographic segmen
tation portions the
market on p a r a m e te
rs like a g e of the
customer, gender, inco
me, family life
cycle, educ ational q
ualification,
socioeconomic statu
s, religion, etc.
TARGET
MARKET
A target market is a group of customers
that a business has decided to aim its
marketing efforts towards. Target markets
can be divided into primary and
secondary target markets. Primary target
markets are those market segments to
which marketing efforts are primarily
directed and secondary markets are less
important.
RECOGNIZING
TARGET
THE MARKET
To build a solid foundation for a business,
the entrepreneur must identify first the
business’ target market. There is no such
thing as “one size fits all” when it comes
to recognizing a market niche. The clearer
the business can identify its target
customer, the more effective it could
become in tailor-fitting its strategies in
getting customers.
By knowing the competitor,
an entrepreneur will be
able to compare
themselves to see what
things that are effective RESEARCH
and works for the other
companies in the
COMPETITION
THE
industry.
BARRIERS
ENTRY
TO INVESTMENT
TECHNOLOGY
BRAND
REGULATION
ACCESS TO RESOURCES
LOCATION
PRODUCTS
AND
SERVICES
 INTRODUCTION
Establishing branding and assuring the
market of the quality of the new product. MATURITY
An initial low pricing policy to get into the Adding features that will make the
market, though with little competition, price product differ from the inevitable
may be high initially to recoup development competitors that enter the market.
costs. Cutting price to counter
competition.

DECLINE
GROWTH
Keeping the product on the market
Maintaining the quality of the
but adding or removing features or
product and adding any extra
finding new uses for it.
services or support that becomes
Reducing costs and production
obvious during introduction.
and
Keeping the price at a good level
keeping it just for a niche
to
segment of the market.
maintain sales growth.
 TANGIBLE PRODUCT
LEVELS OF AUGMENTED
PRODUCT GENERIC
PRODUCT PRODUCT

GOODS
DURABLE GOODS
NON-DURABLE GOODS
TYPES OF SERVICES
RENTED-GOODS SERVICES
PRODUCT OWNED-GOODS SERVICES
NON-GOODS SERVICE
 CONSUMER PRODUCTS
STAPLES
CONSUMER IMPULSE

PRODUCTS SPECIALTY
PRODUCTS

ACCESSORY EQUIPMENT
RAW MATERIALS
INDUSTRIAL SUPPLIES
INDUSTRIAL COMPONENT

PRODUCTS MATERIALS NON-

PORTABLE GOODS
FABRICATED PARTS
MASLOW’S
HEIRARCHY OF
NEEDS
SOURCES OF BUSINESS
IDEAS

SURVEY TALENT
S S

TRAININ MARKET
G GAPS

EXPERIENC EVENT
E S

HOBBIE MEDI
S A
ACTIVITY
Please do the
following pages 85 &
97
REFERENC
E
BOOK
ENTREPRENEURSHIP K TO 12
BASIC
EDUCATION
CURRICULUM pg. 81-93