Every business should determine its own standards for success when evaluating the attractiveness of a market, since every industry has its unique circumstances. Criteria that influence Segment Attractiveness include: • Market Growth (Market Size, Growth Rate, Market Potential) • Competitive Intensity (Number of Companies, Ease of Entry, Substitutes) • Market Access (Customer Familiarity, Channel Access, Company Fit) While bench marking based on criteria is beneficial in capturing the qualitative aspects of a market situation, the profit potential must also be assessed for all segments deemed attractive based on their market attractiveness indexes. Segmentation Application • Provide a brief description of your chosen product/service. (This should be used throughout the class.) • Analyze customer needs for the target product • Discuss Segmentation Strategies based on two real competitors’ market position • Devise a niche marketing strategy that would be appropriate for your company’s product. Gap Analysis, Bench marking & Competitive Advantage • Implement a Gap Analysis of Two Competitors. Discuss how the findings would be used. • Develop Competitor and Competitive Bench marking.
