Market Evaluation Criteria

The process of assessing potential market segments to determine which ones to serve.

Evaluating Target Markets

: The amount and intensity of competition within a target market segment.

 Level of Competition

The assets, capabilities, and budget a company has available for marketing and operations.

Company Resources

How well a target market matches the company's goals, mission, and strategic direction.

Alignment with Company Objectives

A purchasing decision influenced primarily by feelings, preferences, and personal desires rather than pure logic.

 Emotional Decision (Consumer)

 A purchasing decision based on logical analysis, cost-benefit evaluation, and practical considerations.

Rational Decision (Business)

A group of people within an organization who jointly make purchasing decisions.

Buying Committee (Business)

Decision-maker (Consumer)

Usually one or two individuals (like a person or household member) who make the final purchasing decision.

 A business strategy that focuses on understanding and meeting the needs of customers rather than pushing products.

Customer-Centered Approach

A gap or unmet need in the market where a company can introduce a product or service.

 Market Opportunity

 When customers are satisfied with their purchases and continue buying from the same brand.

Customer Satisfaction and Loyalty

Offering benefits to customers that exceed what competitors provide.

Superior Value

 A customer's preference for a particular brand over competitors, often resulting in repeated purchases.

Brand Loyalty

The specific time, situation, or reason when a customer makes a purchase.

Purchase Occasion

Example: Holiday shopping, back-to-school season, birthday gifts.

Purchase Occasion

How frequently or in what quantity customers use or purchase a product.

Usage Rate

Categories: Heavy users, moderate users, light users, non-users.

Usage Rate

The specific advantages or features that matter most to a customer when choosing a product

Benefits Sought

. Example: Some seek durability; others seek affordability.

Benefits Sought