Why Use Relative Market Share?
Why should marketers review relative market shares? Let’s find out why relative market shares are often a more insightful metric than ‘normal’ market shares.
Variations of Market Share
It would be a mistake for a firm to rely upon one market share measure only. Assuming that the firm has access to competitive sales information, then a variety of market share metrics should be calculated and reviewed.
Markets, exchange and target markets
When studying marketing it is important to understand the concept of a market and the exchange process. When we use the term “market” in a marketing sense, there are actually three possible views that we are considering – the overall market, any sub-markets and the brand’s target market/s. Overall market The overall market consists of …
Study Notes for target market selection
Outline of the target market selection evaluation criteria Target markets should be evaluated on: Financial Issues Segment size Segment growth rate Profit margins Structural Attractiveness Competitors (direct and indirect) Competitive rivalry Access to distribution channels Current channel relationships Strategic Direction Fit with the firm’s strategic future Growth expectations Marketing Expertise Resources (financial position and staff …
Study Notes for Target Markets
Marketing Study Notes What is a target market? A target market is a market segment that has been deliberately selected by an organization in order to focus their marketing efforts and offerings. Why is target market selection important? Target market selection is the second major phase of the STP process. It is important because it …
Quick Study Notes for STP in Marketing
What is STP in Marketing? STP stands Segmentation, Targeting and Positioning STP is a process where a marketer: Segments an overall market,(segmentation) Evaluates each market segment on a set criteria, Selects the most appropriate target market/s for the firm, Then establishes an appropriate positioning in order to compete in that target market, Which would then …
