SATISFY CUSTOMERS ON THEIR PARTICULAR NEEDS. CANNOT BE ALL TO ALL PEOPLE REACH SPECIFIC: THE PROCESS OF FINDING AND
STUDYING POTENTIAL CUSTOMERS
VIDEO PRESENTATION ISTHE PROCESS OF DIVIDING THE MARKET OF POTENTIAL CUSTOMERS BASED ON DIFFERENT CHARACTERISTICS:
SCOPE OF PRODUCT MARKET DEMOGRAPHICS SPENDING HABBITS SCOPE OF PRODUCT Is your product international or national in scope?
Isit likely that you will sell it primarily in
your own region or community? International Scope Market Demographics: Age: children, teens, young, middle, elderly. Gender: male, female. Ethnic and/or religious background Family life cycle: newly married, married for 10 – 20 years, with or without children. Income: low, medium, high. Education: elementary, high school, college, university Marital status: single, married SPENDING HABBITS Lifestyle: health conscious, conservative, exciting, trendy, economical. Social class: lower, middle, upper. Activities & interests: sports, fitness, shopping, books Technologically driven: likely to purchase items online or not? P.E.S.T. ANALYSIS DESCRIBE A FRAMEWORK OF MACRO-ENVIRONMENTAL FACTORS USED IN THE ENVIRONMENTAL SCANNING. (external marketing environment) POLITICAL THIS FACTOR LOOKS AT HOW GOVERNMENT REGULATIONS AND LEGAL ISSUES AFFECTS A BUSINESS ABILITY TO BE PROFITABLE. EX. TAX GUIDELINES, EMPLOYMENT LAWS,SAFETY REGULATIONS, ETC. ECONOMIC THIS FACTOR EXAMINES THE OUTSIDE ECONOMIC ISSUES THAT CAN PLAY A ROLE IN A BUSINESS SUCCESS.
EX. UNEMPLOYMENT, SUPPLY AND DEMAND,
EXCHANGE SOCIAL
THIS FACTOR ANALYZES THE
DEMOGRAPHIC AND CULTURAL ASPECTS OF THE BUSINESS MARKETS.
EX.JOB MARKET TRENDS, LIFESTYLE
CHANGES, AGE DISTRIBUTION. TECHNOLOGICAL THIS FACTOR TAKES INTO CONSIDERATION THE TECHNOLOGY ISSUES THAT AFFECT HOW BUSINESS DELIVERS PRODUCTS AND SERVICES TO MARKET PLACE. EX. ROLE OF INTERNET,TECHNOLOGY ADVANCEMENTS,ETC. THANK YOU….