Market Segmentation
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Transcript of Market Segmentation
STUDY OF MARKET SEGMENTATION
What is a market?
Total population Felt need Interested Money to buy Willingness to spend Market
What It Means?
Segmentation is the process of partitioning a large heterogenous market into smaller groups or businesses which show similar needs and or
characteristics thus resulting into a similar purchase behaviour.
TOTAL MARKET
Benefits of Segmentation Two Approaches to segmentation1 ) Breaking down of entire market2) Segmentation approach from Individual customers
Limitations of Segmentation
Size
Responsiveness to marketing
Accessibility
Criteria for Effective Segmentation
Variable Typical Break-up
Age Children
Youngsters
Old Aged
Sex Males
Females
Family Size Small
Medium
Large
Family Life Cycle (FLC)
Young, single
Young married, no children,
Young married with children & so on
Occupation Professionals, Technical, Government servants, Businessman, Farmers, Housewives, etc
Education SSC & less, HSC, Graduate, Post Graduate, Doctoral & above
Religion Hindu, Muslim, Parsi, Sikh, Christian, Buddhist, Neo - Buddhist
Nationality Indian, Foreigner
Demographic Segmentation
Family Life Cycle ( FLC )
• Study of Family Life Cycle It refers to the series of stages through which individuals proceed over a
period of time
Traditional or conventional FLC
Revised FLC concept
Benefit segmentationBenefit segmentation of the toothpaste market:
BenefitSought
DemographicCharacteristic
BehaviouralCharacteristic
PsychigraphicCharacteristic
FavouredBrand
Low price Males Heavy users Price-conscious independent
Babool
Decay prevention Big families Heavy users TraditionalHealth-conscious
Pepsodent
Brightness of teeth
TeenagersYoungsters
Smokers Outgoing funloving
Colgate promise
Good flavor Children Mint lovers Active self-involvement
Colgate
Mouthwash TeenagersYoungsters
Want intimacy &togetherness
self-involvement Close-up gel
Gentler toothpaste
Children between 2.5to 7.5years
Loves to taste Fun dependent on mother for good habits
Just for kids
Benefit segmentation of the soap market:
BenefitSought
DemographicCharacteristic
BehaviouralCharacteristic
PsychigraphicCharacteristic
FavouredBrand
Low price Males\females Heavy users Price-conscious independent
Life buoy
Decay prevention Big families Heavy users TraditionalHealth-conscious
Lux, relona, santoor
Anticipatice for body
TeenagersYoungsters
sportmen Outgoing funloving
Dettol
Good smooth Children milk Active self-involvement
Johnson baby
Fragnance TeenagersYoungsters
Want intimacy self-involvement Pears, Dove
Gentler soap Children between 2.5to 7.5years
Loves to bath Fun dependent on mother for good habits
Just for kids
Classification Of Buyers
• Occasions• User status• Usage rate • Loyalty status• Buyer readiness stage• Attitude• Identifying the target Audience or groups
Thank you!!