Market segmentation focuses on the income markets

Market Segmentation
__________________________________________ focuses on the ___________________ income
markets. These market segments consume __________________________ ranging from
______________, __________________, __________________ _______________.
Independent Activity 2: Crafting the Main and Additional Markets and Strategy
Used

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Local Residents
__________________________________________ wants _______________ a _________________
customer base. This will launch a ____________, _____________ revenue base to
____________________ of the business.
Friends and Relatives from Nearby Communities
___________________ and ______________ from _________________________ comprises
approximately __________ of the revenues. ____________________, _____________________ and
_____________ are _____________ to ____________ this segment of the market.
Target Market Segment Strategy
The __________________ target market for _________________________________________ is a
_________________ of ______________________. _________________ and _____________ customer
service at a ____________________ is key to _________________ the _________________________
of this target market.
Independent Activity 3: Crafting the Market Needs, Service Business Analysis and
Competition/Buying Patterns
Market Needs
Because _______________ has a ____________________ at its _________________,
__________________ especially _________________ who are into ____________________ are always
buying _______________________. In order ____________________ who are within
_________________ where the store is located, the owner would like to ____________________.
Much of the day's activity occurs in the _________________________, with a relatively steady
flow for the remainder of the day until __________________.
Service Business Analysis
The _____________________ in the locality has recently _________________________.
__________________________support to _______________________________________,
________________________ are booming ___________________________ which paves the way for
the owner to start the business venture.
Despite low competition in the immediate area, ___________________________________ will
position itself as a __________________customers can ________________________________ in a
relaxing environment.
Competition and Buying Patterns
Competition in the local area is somewhat ______________ and does not
______________________ the level of ____________________________________________ as
_____________________________________________. _________________________ customers are
looking for ____________________________ in a ____________________. They desire a
_____________, ______________________ in buying ______________________________.
Leading ___________________ purchase supplies to ____________________________, making
their prices ____________________than __________________________________.

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Independent Activity 4: Crafting of the Target Market Description and
Product/Service Description
Target Market Description
• Target 1.
Describe.
• Target 2.
Describe.
• Target 3.
Describe.
Product or Service Description
Describe
Product 1
Product 2
Product 3
Product 4
Independent Activity 5: Crafting of the Pricing Strategies and Place Strategies
Pricing Strategies (choose what did you employ)
• Cost-oriented pricing – where a cost serves as a basis for pricing products
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o Cost-plus pricing – where a specified amount is added to the unit cost
o Standard markup pricing – where a specific percentage is added to the unit
cost
___________________________________ will charge for the __________________. The
pricing is based on the _________________________________ plus __________ percentage mark-
up to cover up _______________ and ________________. A mark-up of ______of the cost will
suffice for the __________________________________.
• Competition-based pricing – pricing strategy that utilizes prices of competitors, the
index for which same, higher or lower price is determined by the entrepreneur
• Target profit pricing – where the desired profit is added to the unit cost
Location or Place Strategies (choose what did you employ)
• Direct distribution – through house to house or stall setups
Korean Pop Collectibles Shopaholic store will be located
_____________________________.
• Indirect distribution – through agents or intermediaries
• Hybrid distribution – a combination of the direct and indirect approaches
Independent Activity 6: Crafting of the Promotion Strategies
Promotions (choose what did you use)
• Advertising/Facebook Posts.