Year 10 Week 8 - Market Segmentation

Lesson 1: Introduction to Market Segmentation

Do Now Task

• Explain CRM and its significance in marketing.
• Collect and distribute homework.

Homework

• 5 assignments to complete.
• Review glossary for weeks 1-7.
• Prepare for Unit 3 Marketing Test covering:
  • Chapter 10: Marketing competition & customers.
  • Chapter 11: Market research.

Lesson Objectives

• Understand benefits and limitations of niche vs. mass marketing.
• Learn how and why market segmentation is used.
• Select and justify segmentation methods in different scenarios.

Key Concepts

• What is a Market?
• Mass Market vs. Niche Market

Methods of Market Segmentation

• Socio-Economic group
• Age
• Region/Location
• Gender
• Usage
• Lifestyle

Benefits of Segmentation

• Increase product sales by targeting different segments.
• Identify market gaps.

Activities

• Complete spider diagram (p141).
• Activity 10.5 (p140) questions a & b using Proton or Perodua as examples.
• Extension: New market development ideas for Proton or Perodua.

Lesson 2: Market Research

Do Now Task

• Name 3 market segmentation methods.

Lesson Objectives

• Understand the necessity of market research and methods used.

Role of Market Research

• Identify customer needs globally in a dynamic environment.

Market Orientation

• Product-oriented vs. Market-oriented approaches.

Market Research Methods

• Secondary Research (Desk Research)
• Primary Research (Field Research)
  • Qualitative (opinion based)
  • Quantitative (numeric data)
• Examples of Primary Research (p145)

Secondary Research

• Internal Sources:
  • Sales records
  • Annual accounts
  • Customer complaints
• External Sources:
  • Government statistics
  • Newspapers
  • Online sites like CIA World Factbook
  • Market research publications

Advantages vs Disadvantages

• Discussed on p148

Activities

• Complete spider diagrams (p151).
• Activity 11.5.
• Extension: Develop questions to assess product viability.

Lesson 3: Presenting Market Research

Do Now Task

• List 2 primary and 2 secondary research methods.

Lesson Objectives

• Learn to present and apply market research results effectively.

Questionnaire Design

• How to create an effective questionnaire?

Activities

• Task 3: Design a questionnaire for a business venture.
• Collect market research handout.

These notes provide a structured overview of the key concepts and activities from Year 10, Week 8 lessons on market segmentation and market research. The focus is on understanding segmentation methods, the importance of market research, and the practical application through designing questionnaires.