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Conceptual Understanding: Designers must consider the market when targeting their product, service or system. The smaller the sector, the more the target audience will have in common. Companies may decide to compete in the whole market or only in segments that are attractive and/or familiar. A designer’s understanding of the identified market is essential.
Categories of Market Sectors
Client based Sectors
Client based Sectors
Client-based sectors refer to specific types of clients and are divided into four main sectors:
Consumers: Individuals purchasing products and services to meet their needs.
Industrial: Large-scale manufacturers
Public Sector: Government funded or operated goods and services
Commercial: Companies selling to other companies or individuals
Each client-based sector has specific characteristics and needs that would be addressed by a product or service.
For example, an electric bike sold to the commercial sector for the delivery of food, would be sold in batches, each sprayed the brand's colour and fitted with the correct accessories. Pizza storage, Drinks storage etc. All electrics and mechanics would be standardised and repaired by the service provider, this would keep the costs to the region attractive to those in this sector.
Geographic Sectors
Geographic Sectors
Geographic sectors refer to groups of users defined by a region, value, culture, and its characteristics. Along with the distinct characteristics of a region, the purchasing power of consumers will also differ.
A modular Aluminium gun rack would sell well in the mighty state of Texas sir, but wouldn't do as well in Singapore where they have tighter gun laws.
Thus why it's probably decorated in this way.
Market Sectors and Segments
Market sectors: A broad way of categorising the different markets, these are BIG.
Financial, Transport, Health, Urban Development, leisure etc.
Market Sub Sectors: Markets divided into smaller Sectors, these are smaller:
Transport; air freight and logistics, airlines, marine, road and rail, and transportation infrastructure etc.
Market segmentation: The process of dividing the market in to groups of consumers who respond to marketing stimuli differently, these may reveal;
High end, no Frills, Demographic, Digital users, Geographic, loyalty, gender..
Market segment: The result of segmentation, compartmentalises the markets into small segments, consumers/ clients/ customers will occupy many of these segments.
How the needs of the market segments listed above impact on the design of products and scale of production. Plastic mass produced trumpets have been designed for schools and young early learners , these have a marginal cost compared to their Brass counters.
Target Market: A result from analysing the market segment, the TMG may be; Teenagers that online shop through their phone looking to buy and trade niche sneakers (trainers) with people abroad. (That's a pretty tight target market TBH)
Product Family
Product Family: A group of products having common classification criteria. Members normally have many common parts and assemblies.
Product family encourages consumers to purchase other products in the range if they have had a positive experience with the brand.
A product family is a group of products that have a common classification criteria. Members of a product family normally have many common parts and assemblies, are branded consistently and share aesthetic characteristics.
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