M_Seg_Ankur(F)

8/2/2019 M_Seg_Ankur(F)

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MARKET SEGMENTATION

Prepared By:- Ankur SinghalDevika SinghalHarender SinghSahil Chopra

Submitted To:-

Prof. Y.V.Gupta



Marketing Plan - Many factors are involved

Consumer Analysis

Environmental Analysis

Steps Involved

1.To decide your target segment

2. Look at competitors,

what are they doing

3. Develop a unique marketing plan



With a large country«.DIVERSITY is there

Many different types of people are there«..

It is too difficult to create a product that will

satisfy everybody, that is why

we focus on a

³Segment´ of the total market.



What is Market Segmentation ? ? ?

´Grouping people according to their

simila rity related to a pa rticula r product

categor y ́



Bases for Market

Segmentation



GEOGRAPHIC

SEGMENTATIONBased upon where people live

(historically a popular way of dividing markets)



because WHERE people live has a big effect on their

consumption patterns.

Additionally, WHERE people live in a city is also a

reflection of their income level and we can make

certain assumptions about their ABILITY TO SPEND

based upon their address.

This helps people plan store locations and the

location of other services.

Geographic Segmentation



Climate:

winter equipment and recreation are effected by

geographic location

you will sell more snow shovels in Northern Ontario

than southern Ontario , BUT, population in Northern

Ontario is very small

clothing purchases are also effected by

climate/geography

Geographic Segmentation-- CLIMATE



DEMOGRAPHIC

In Demographic Segmentation, Marketer differentiates

the consumer based on variables such as Religion,Language, Age, Gender, Marital status, Family size,Occupation, Income, Purchasing capacity , Socialstatus etc.



1. Age

2. Gender

3. Income

4. Occupation

5. Education

Variables in the Demographic Segmentation(Most Commonly Used)



Age

Marketer studies the market and tries to separateconsumers on the basis of their age.

Example: Amul has segmented its product in differentage groups



For kids: Amul Kool, Chocolate Milk, NutramulEnergy Drink.

For Youth: Amul Cool Kafe.

For womens and older people: Amul Calci+, Amul Shakti Energy Drink



Gender is an obvious way to divide the market intoSegments since so many products are Gender-Specific

1. Clothing

2. Medical products

3. Sports products/services

4. Entertainment

nGender Gender



EMAMI segmented its Health Care Product on Gender

Womens: Naturally fair

Men: Fair and handsome



IncomeIncome

Buying Capacity of the Consumers depend on theirIncome. Income Factor makes a huge difference inconsumers buying Decisions

Example: Nokia Mobiles almost cover the wholerange in the mobile segment in India.



Occupation

Occupation

Market segmentation by occupations is also effectivebecause of associated lifestyles (e.g., business people

are targeted by the travel and clothing industriessince they do more traveling and purchase morebusiness clothing).



EducationEducation

Marketer analyze a Sample of its target Market onthe Basis of the Educated Population as HigherEducation is associated with higher Income andHigher disposable Income .Seller of Products like Encyclopedias, ScientificCalculators, etc. target the educated Segment of theSociety



Based on people¶s opinions, interests,

lifestyles

eg, people who like hard rock music probably

prefer beer to wine

Psychog raphic



Psychographic profiles on a target market

segment are obtained by doing a lot of

questionnaires and surveys to ask people if they

agree/disagree with certain statements madeabout particular activities, interests or opinions



Thompson Lightstone

Segments

1. Passive/Uncertain

2. Mature

3. Home Economists

4. Active/Convenience

5. Modern Shoppers

6. Traditional Home/Family Oriented

Psychographic Segmentation



Psychographic Segmentationy This corresponds to the psychological traits of the

customers such as Personality , Beliefs, Values,Lifestyle and Attitudes. These are those personal

marketing segmentation characteristics that cannot bequantified but are important

y As the business evolves the idea is to move from simply fulfilling a need or solving a problem towards aligning

with the higher attributes of the customer base suchas lifestyle and values. A great representation of this ispsychologist Abraham Maslows famous Hierarchy Of Needs:



Based on the different expectation that customershave about what a product/service can do for them

Segmentation on the Basis of BENEFITS



³It is based on the Attributes (characteristics)

of products, as seen by the customers´people buy something because it causes a

benefit, examples are

Diet coke - less sugar, lose weight

Tata Salt Lite- for less sodium intake

Sensodyne- for customers suffering from

sensitivity

Sugar Free sweetners-for diabetes patients



Benefit Segmentation of the Toothpaste Market

Segment Name

The Sensory The

Segment Sociables The Workers

Principal benefit sought Flavour, product Brightness Decay

appearance of teeth prevention

Demographic strengths Children Teens, young Large families

people

Special behavioural Users of Smokers Heavy users

characteristics spearmint-

flavoured

toothpaste

Brands disproportionately Colgate, MacLean¶s, Crest

flavoured Stripe Plus White,

Ultra Brite

Personality characteristics High self- High High

involvement sociability hypochondriasis

Lifestyle characteristics Hedonistic Active Conservative



Using Segmentation in Customer

Retention The basic approach to retention-based segmentation

is that a company tags each of its active customers

with 3 values:



y Tag #1: Is this customer at high risk of canceling

the company's service?

One of the most common indicators of high-riskcustomers is a drop off in usage of the company'sservice. For example, in the

credit card industry this could

be signaled through a customer's

decline in spending on his or her

card.



yTag #2:

Is this customer worth retaining?

This determination boils down to whether the

post-retention profit generated from thecustomer is predicted to be greater than thecost incurred to retain the customer. ManagingCustomers as Investments.



y Tag #3: What retention tactics should be usedto retain this customer?

For customers who are deemed

save-worthy, its essential for the

company to know which save

tactics are most likely to be successful.

Tactics commonly used range from

providing special customer discounts

to sending customerscommunications that reinforce the

value proposition of the given service.



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