market segmentation
DESCRIPTION
How to segment and target the marketTRANSCRIPT
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Paramjit Sharma
Market Segmentation
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Paramjit Sharma
Market Segmentation
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Paramjit Sharma
Market
Market isPeople or Organisation withNeeds or Wants withThe Ability andWillingness To Buy
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Paramjit Sharma
Market Segment
Within a Market a
•Segment is a Sub-Group of•People Or Organizations•Sharing one or More Characteristics•That Cause them to have Similar Needs
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Paramjit Sharma
Market Segmentation
The Process of Dividing a market into
•Relatively Similar•And Identifiable •Segments or Groups•Called Market Segmentation
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Paramjit Sharma
LEVELS OF MARKET SEGMENTATION
Segment Marketing
NicheMarketing Local Marketing
Individual CustomerMarketing
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Paramjit Sharma
LEVEL OF MARKET SEGMENTATION
Segment Marketing
Identifiable Group with in a Market With Similar
•Wants•Purchasing Power•Geographical Location•Buying Attitudes
ALTO
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Paramjit Sharma
NicheMarketing
•Distinct Needs•Pay Premium•Specialization•Less Competition•Size, Profit & Growth• Potential
Narrowly defined Group (Small)Whose needs are Not well served
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Paramjit Sharma
LEVEL OF MARKET SEGMENTATION
Individual CustomerMarketing
Marketing According To Individual’s Order
•Customized Marketing•Cars /Tailors•Designer’s Clothes•Architects•Software
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Paramjit Sharma
LEVEL OF MARKET SEGMENTATION
Local Marketing
Marketing Programmes ServingNeeds & Wants Of Local Customers
•Local•Region•State
PuneSareesChitle
KashmiriSilk
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Paramjit Sharma
Criteria's for Effective Segmentation
4 Purpose Of Segmentation
1 Identifying Groups Of Customers with similar Needs 2 Analyze Their Characteristics & Buying Behaviors
3 Providing Products Matching with Needs
4 Satisfying Needs While Meeting Org. Objectives
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Paramjit Sharma
Segmenting Consumer Markets
GeographicDemographicPsycho graphicBehavioralMulti-attributable
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Paramjit Sharma
Geographic
NationsStatesRegionsCitiesWorldM-SizeDensityClimate
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Paramjit Sharma
Demographic
AgeFamily SizeFamily life cycleGender incomeOccupationEducationReligionGenerationNationalitySocial Class
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Paramjit Sharma
Psychographic
Life StylesPersonalityValues
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Paramjit Sharma
Behavioral
OccasionsBenefitsUser StatusUsage RateLoyalty StatusReadiness StageAttitude Toward Offerings
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Paramjit Sharma
Multi-attributes-Geoclustering
PRIZAM(Potential Rating Index by Zip Markets)
•Education & Affluence•Family Life Cycle•Urbanization•Race & Ethnicity•Mobility
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Paramjit Sharma
Market Targeting
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Paramjit Sharma
Single Segment Concentration
•Volkswagen—small cars
•Porsche----sports car
Can be Risky at Times
M1 M2 M3
P1
P2
P3
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Paramjit Sharma
SELECTIVESPECIALIZATION
•No of Segments•Type Of Cars
Risk is divided
M1 M2 M3
P1
P2
P3
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Paramjit Sharma
PRODUCTSPECIALIZATION
•Several Segments•Microscope-colleges, labs
M1 M2 M3
P1
P2
P3
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Paramjit Sharma
Market Segments-Evaluation & Selection
MARKETSPECIALIZATION
•Particular Customer Group•Different Products to Univ
Books, labs, Computers, sports goods.
M1 M2 M3
P1
P2
P3
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Paramjit Sharma
FULL MARKETCOVERAGE
•General Motors-Cars for every purse,purpose and personality
M1 M2 M3
P1
P2
P3
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Paramjit Sharma
Market Segments-invasion Plan
Customer Groups Airlines Railroads Truckers
LargeComp
MidsizeComp
Perscomp
Pro
du
ct V
arie
ties
A B C
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Paramjit Sharma
Market Segments-Inter-segment Coop
Market
A B
C D
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Paramjit Sharma
Market Segments-Inter-segment Coop
H Q
A B
C D
Market