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Transcript of 1 Segmentation
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5/5/12Segmentation: Product Services
Segmentation
Presented by:
Dwijesh NathTiwari
FC10134
Mayank Jain
FC10143
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The Segmentation Process
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What is Market?To marketers, markets are people, plain and simple. Product markets
Market segments
The market segments that a company decides to servewith their marketing efforts are referred to as target
markets.
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Segmentation : What?and Why? Converting a heterogeneous demanding markets into
homogenous groups based on similar characteristics ortraits.
By excluding groups of people who are less likely to buya firms brand, the firm has additional resources tofocus on groups with the greatest potential to becomecustomers.
Decisions to overlook certain groups are meant toincrease the efficiencywith which a firm can serve itscustomers as well as the profitabilityof serving them.
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Major SegmentationDecision
Product Category Decision
A product category is simply a group of products that, onsome level, provide similar sets of benefits.
From the basic level, product categories may be
superordinated (made more abstract or general) orsubordinated (made more specific).
The main reason why product category decisions are soimportant is that they help marketers define their
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Major Subgroup Decisions
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Desired benefits :
Positive consequences that result from
purchasing or using a product. Understandingwhy people buy products is critical to effectivelypromoting the product. Second, understandingwhy people buy can be terribly complicated.
Four Types of Desired Benefits are:
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Be
ne
fitPr
ofi
lefor
TwoM
ob
ileBr
an
ds
Functional Psychological
Motivational
Communication
Preferential
EconomicalEase of operation
Sense of SecurityPeace-of-mind
Functional PsychologicalMotivational
Need for VarietyStylish
Preferent
ial
Luxury
Higher Performance
Brand Status
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Demographic variables Demographic variables include such physical
characteristics as sex, ethnicity, and age.Social demographic characteristics includeincome, occupation, religion, and education.
It is the most popular variable used whilesegmentation.
Geographic variables Geographic variable plays an important role
and presents a big challenge for marketers in
India. The sheer size and diversity of thegeography of the country also affects thedemographics of the country.
The big divide between rural and urban in India
is a critical factor in India as the two arecharacteristicall ver different from each 5/5/12
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Geographical Variable
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Psychographic Variables
PsychographicSegmentation
Describe people interms of their life
style
Activity (Whatthey do)
Interests(What they
like)
Opinion( What they think)
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Abundantresources
Minimalresources
tyleClassifica
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Describing segments usingthe traditional segmentationbases.
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Target Market Decisions
Qualities of good target markets
Measureable
Compatible
Accessible
Substantial
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Process for describing MarketSegmentation
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Product(Fine Dining Restaurant)
Demographic
Age(25-45)Income(high)
Gender(Maleand Female)
Geographic
Metropolitan(Posh Area)
Actualizers
Achievers
Experiencers
Psychographic
(Lifestyle)Status, Luxury, Quality
New Experience
BenefitSought
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"Thank You"
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