12. The consumer LED lighting market
in currently in a growth phase,
characterised by high growth &
low barriers to market entry.
13. growth markets
High growth markets, like the current consumer LED
lighting market, are characterised by relatively low rivalry
and plenty of market opportunity for everyone.
14. growth markets
Buyers in high growth markets are often keen to secure
products due to external drivers (like high electricity prices)
but lack sophistication about what they are buying, so
diminishing their buying power.
15. growth markets
The marketing goal in high growth markets is all about
growing market share and building a strong brand ready for
the onslaught of competition that will arrive in the late
growth stage and into the shakeout stage.
16. growth markets
In this high growth markets, traditional broadcast
media channels like TV, radio and direct marketing
work well because of the abundance of buyers and
limited competition.
TV + PRICE
17. growth markets
On the downside, high growth markets have low barriers to
entry, meaning new competitors can easily enter and pick up
market share quickly, This is because existing competitors
may not have built scale, experience or customer loyalty.
18. growth markets
In a typical growth market, competition is
present but there is more than enough
business for everyone. The aim of the growth
phase is to build market share.
20. growth markets
In the shakeout stage there is much higher
levels of competition, the growth rate starts to
decline and increased rivalry forces the
weakest players and brands out of the
business.
21. shakeout stage
In the shakeout stage broadcast promotion and
big budgets won't ensure success as there will
be many companies vying for a share of the
consumers mind. At this point, brand strength
is critical.
TV + PRICE
22. Similar to the way brands like Canon means
something in printer and photocopier markets, and a
're-seller' brands like Aussie home loans means
something in the mortgage market, Brands in high
growth markets needs to develop a strong brand that
is different from competitors in a way that matters to
me.