Week 4-5 Module
MARKET TYPES
Existing Market
- Already been established demand meaning meron ng product sa market,
theres already a demand and has existing customers and current
competitors. And dahil nga existing na siya sa market meaning may
expectations na yung customers with its product. Ang perfect example is
yung mga smartphones, or coffee shops na madami na sa city but then
still meron pa rin na magbubukas nab ago sa market.
New Market
- It is a market that doesn’t currently exist – meaning walang existing
product or services na katulad sayo, sometimes yung customers hindi din
nila alam na they needed that product or services until it came. Parang
ikaw yung nagbibigay ng demand for something.
- You have no direct competition kasi bago lang.
- Low customer demand
- High risk but high reward, risky siya to take but once you dominate the
market sa new product or services meaning you will be the first one to
succeed.
- Perfect example for me is yung mga smartwatches, before we only used
lang naman yung regular watches eh but when smartwatches came
naging patok yung sa mga tao because it also tracks health, messages
and more.
Re-Segment/Niche Market
- Based on my understanding and re-segment market, it happens when you
take an existing market and focus only on specific group of people within
that market – then mag offer ka ng something new of different product
just for a specific group of people. So instead na you are selling it to
everyone, I redefine mo yung product just to serves more specific need ng
tao, it can be also based on budget or preferences.
- Nasa same market pa din but then you are creating new version of it for a
particular consumers.
- Perfect example is bread. We already have regular bread for everyone, but
then they also came up with wheat bread — para ito sa mga health-
conscious people or those who need more fiber in their diet. So kahit
pareho silang tinapay, may specific group lang na tinarget si wheat bread,
kaya ito ay example ng re-segmented market.
Clone Market
- Dito naman is when you copy an existing successful business model or
product from one location to another where it doesn’t exist. Hindi na nag
made from scratch instead you are cloning it.
- Perfect example nito is in US or other country they have Amazon then
here in Philippines nagkaroon ng Shopee and Lazada
4 types of Market Segmentation – purpose of this it to understand your
consumers better, increase customer satisfaction and improved sales.
Geographic – based on location, country, city climate and etc.
Demographic – based on personal information: age, gender, income etc.
Psychographic – based on lifestyle, values, interest and beliefs.
Behavioral – based on buying habits, brand, loyalty and etc.
Estimate Your Market Size
Total Addressable Market or Tam - it means Ito ang kabuuang laki ng market na
puwede mong i-target. Kung walang limit, gaano kalaki ang kita mo kung lahat ng
tao na puwedeng bumili ay bibili sa’yo.
- Lahat ng possible buyers or lahat pwede bumili
Serviceable Addressable Market - Ito ang bahagi ng TAM na kaya mong i-serve
base sa mga limitasyon mo — tulad ng location, budget, delivery area, o kakayahan
sa marketing.
- Kaya mo lang ma reach na target
Serviceable Obtainable Market or SAM - Ito naman ang realistic na bahagi ng
SAM na talagang bibili sa’yo. Kasi kahit kaya mo silang i-reach (SAM), hindi naman
lahat ay bibili — may ibang brands, may hindi interesado, o malayo ka pa rin.
- Bibili talaga sayo
Meaning of Product Adoption Curve
The Product Adoption Curve explains the different types of customers and how fast
or slow they are in accepting new products or innovations. People are grouped into
5 types:
1. Innovators – they are the ones na mahilig sa bagong produkto, gadget, o
technology — sila ang unang bumibili kahit bagong-bago pa lang.
2. Early Adopters- Mga taong sumusunod agad sa trend, open sa innovation
kahit hindi pa sikat yung product.
3. Early Majority - Hindi agad bumibili, pero kapag naging common na sa iba,
doon pa lang sila bibili. Gusto muna nilang makasigurado na okay ang produkto
bago bumili. Mahalaga sa kanila ang presyo at quality.
4. Late Majority - bibili lang sila kapag talagang proven na at maraming
gumagamit. Ayaw nila ng risk. Kapag lahat ng tao may ganun na, tsaka pa lang sila
bibili.
5. Laggards - Pinakahuling tumanggap ng bagong produkto. Ayaw ng pagbabago.
Sila yung huling-huli. Kadalasan, traditional pa rin ang gamit nila, ayaw nila ng
bagong teknolohiya.
Competition Analysis
Direct Competitor – Businesses that offer exactly the same product or service
as you — same category, same target customers.
Indirect Competitor – Businesses that offer a different product, but solve the
same need or want of your customers.
Replacement Competitor - Products that customers might choose instead of
yours, even if they are not directly related — often because of price,
convenience, or habit.
