market seg vineeta

8/7/2019 market seg vineeta

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MARKET SEGMENTATION

PRIYA SAHNI

SWATI BALIVINEETA DHANWANI


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Overviewy Meaning of segmentation

y Definition of segmentation

y Purpose of segmentation

y Process of segmentation

y Criteria of segmentation


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MeaningyAmarket segment is a subgroup of people or

organizations sharing one or more characteristics

that cause them to have similar product needs. it is distinct from other segments (heterogeneity acrosssegments)

it is homogeneous within the segment (exhibitscommon attributes)

it responds similarly to a market stimuli it can be reached by a market intervention


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Definition:

y Market segmentation is the subdividing of a marketinto a homogenous subsects of the customer whereany subsects may conceivably be selected as amarket target to be reached with a distinctmarketing mix.

-PHILIP KOTLER


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Purposey Increase marketing

efficiency by focusing

marketing efforts to aparticular group

y Find a market withlimited competition

y Select the mostprofitable segment


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1. Identify Basesfor Segmenting the Market

2. Develop Profiles

of Resulting Segments

3. Develop Measuresof Segment Attractiveness

4. Select TargetSegment(s)

5. Develop Positioning

for Each Target Segment

6. Develop MarketingMix for Each Target Segment Market

Positioning

MarketTargeting

Market Segmentation

Market Segmentation Process


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SegmentationAnalysis

SegmentationAnalysis

Consumercharacteristic

Consumercharacteristic

eogra hic

Demogra hic

Psychogra hic

Consumerres onsesConsumerres onses

Benefits

Usage

Loyalty

Occasion


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Geographic

e ographicAge, gender,

fa ily size andlife cycle, orinco e

PsychographicSocial class, lifestyle,

or personality

BehavioralOccasions, benefits,uses, or responses

Nations, states,regions or cities

Segmentation Criteria


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Demographic Criteria Age

Gender

Income

Family size

Education standard

Religion


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Demographic Segmentation:-

1)Age :- Segmentation is done on the basis of ageof person.

Example: Titan has segmented its productaccording to different age group of person.


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y TITANs product segmentation on the bases of

age:-

Titan created a sub brand,Fastrack. These

watches are specifically for young, vibrant,

and cool outgoing young generation. While

for older person and professional it has

created the steel series watches and alsothe famous, Sonata.


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Titan Fastrack

(for the younger

segment)

Steel-1077SM01

(for elder person and

professional)


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Income level:On the basis of of the income level of customer it

can be divided into 3 groups-

a)High income groupb)Middle level income group

c)Low level income group

Example: Car segment based on the Income levelare :-

It is the largest segment in Indian market. Here theentry level starts.


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MIDDLELEVEL GROUPMaruti 800

y It is the dominantplayers in thesesegments.It starts fromRs 1.5 to 3 lakh.

:WagonR:It liesbetween budget car andfamily car. Preferredprice range is between Rs3 to 4.5 lakh. Maruti Zenestilo Alto,WagonR aresome of the dominantplayers in this segment


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HIGHER LEVEL GROUPKizashi is expected to be priced in the range of

Rs 12 to 15 lacs.


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Sex factor: Beauty products for Women

Sex:

Daily moisturiser Face wash Garnier light Eye rollon


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y Beauty products for men:

FaceWash FairnessMoisturiser SPF 15

y


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Size of family:Example ofLG refrigeratorLarge family Small family


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Psychographic characteristic:Different consumers have different

personality.Therefore market can also be segmented on

psychographic factor .Some are the consumers who

buy the product because it adds to their social prestige

& status.Ex-American automobile conducted an experiment in

case of Ford & Chevrolet cars.


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Psychographic factor

Ford Chevrolet


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1/25/2010


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