Marketing Objectives • An objective = a target • What targets do you think Ryan Air set itself when it was set up more than 10 years ago? • To offer the cheapest tickets • To have more destinations than its competitors • To gain customer loyalty • To ‘steal’ customers from Airlines such as British Airways
Ryanair – has it been a success story? • What they’ve done well……. • Any problems recently????????
Market Segmentation Cheap Air travel In Europe Business Travellers Luxury Air Travel World Wide cheap travel
Characteristics of Market Segmentation • One segment of a market contains consumers with similar needs and characteristics (I.e. groups) • How do businesses divide the segments up?
Ways of segmenting the market • By age • By gender • By income • By Socio economic group • Other
Exercise • Chose 2 from the list of the following products or services and identify some different segments (give the characteristics of the buyers): • Newspapers and/or magazines • Holidays • Cars • Sports and Leisure activities