Lesson Notes By Weeks and Term - Senior Secondary School 3

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Term: 2nd Term

Week: 2

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Market segmentation and types

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Define market segmentation
  2. State the importance of market segmentation
  3. Discuss the basis for market segmentation
  4. Outline the characteristics of market segmentation

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on the introduction to marketing

Students pay attention

STEP 2

EXPLANATION

She explains the meaning of market segmentation

She states the importance of market segmentation

 

Students pay attention and participates

STEP 3

DEMONSTRATION

She discusses the basis for market segmentation

She outlines the characteristics of market segmentation

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

MARKET SEGMENTATION

Market segmentation is a marketing strategy that uses well-defined

criteria to divide a brand's total addressable market share into smaller

groups. Each group, or segment, shares common characteristics that

enable the brand to create focused and targeted products, offers and

experiences.

 

IMPORTANCE OF MARKET SEGMENTATION

  1. companies produce better advertising campaigns
  2. companies are able to develop on-target products
  3. companies are able to identify new trends and opportunities
  4. It provides useful input to the company
  5. It brings about brand trust

 

BASIS FOR MARKET SEGMENTATION

  1. Demographic segmentation

Demographic segmentation assumes that people with common

characteristics will have similar lifestyle patterns, tastes, and interests that

will influence their purchasing habits. Demographics are often combined

with other segmentation approaches to develop target markets with the

greatest likelihood of buying their products.

Demographics include factors like age, gender, occupation, income, and

education. Surveys are one way to collect demographic information

 

  1. Psychographic segmentation

Psychographic segmentation divides people into groups based on their

personality, lifestyle, social status, activities, interests, opinions, and

attitudes. Psychographics is an excellent complement to demographics

because they identify the motivations behind why people make particular

choices.

 

  1. Behavioural segmentation

Behavioral market segmentation describes specific steps in their ideal

customer’s buying process, including what their ideal customers want, why

they want it, the benefits sought, and how they go about getting their needs

met.

 

  1. Geographic segmentation

Geographic segmentation allows marketers to group people based on where they live, work, or travel. The location has a significant influence on buying habits that marketers can use to develop their marketing messages.

Marketers use various geographic segmentation variables that include the country, region, state, province, town, climate zone, or zip code. Culture and population density (urban or rural) are also crucial variables to include in their market research.

 

  1. Firmographic segmentation

Firmographic segmentation is to B2B marketers what demographics is for B2C marketers. Firmographics explain their business target market characteristics and include their industry, number of employees, legal status, company size, financial standing, and other business-related variables.

 

CHARACTERISTICS OF MARKET SEGMENTATION

  1. Measurable: Target markets are quantifiable in terms of population, income and age bracket, among other factors.
  2. Accessible: Market segments should be accessible in terms of geography and economy.
  3. Profitable: The profit should be large enough to be worth pursuing
  4. Market responsiveness: Consumers in a target market should be responsive to the products designed for them

EVALUATION:   1. Define market segmentation

  1. State the importance of market segmentation
  2. Discuss the basis for market segmentation
  3. Outline the characteristics of market segmentation

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively