market segmentation
TRANSCRIPT
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Market Segmentation
• Market segmentation can be defined as a process of identifying a group of homogenous customers with similar needs, characteristics and behavior.
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Levels of market segmentation
• Segment marketing
• Niche Marketing
• Local Marketing
• Individual Marketing
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Patterns of marketing Segmentation
• Homogenous Preference
• Diffused Preference
• Clustered preference
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Procedure
• Survey stage
• Analysis stage
• Profiling stage
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Basis for segmenting consumers
• Geographic
Region
Density
Climate
EX – Amul which first marketed its product in Gujarat
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Demographic
• Age, Family size, Family life cycle, Gender, income,
• P&G ARIEL and Tide’ Surf and surf excel• Occupation , education, religion• Race, generation, nationality and social class
Ex- cosmetic manufacturers
Gender DEO for men and women by same company
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Behavioral Segment• OccasionAsmi Diamonds- Buy diamond for diwali, Birthday• BenefitsClose-up fresh breath, Pepsodent – 24 hr protection• Usage rate Big Bazaar Segments consumer on volume of monthly purchase
to give discounts• Loyalty statusAIR INDIA- frequent flier planRetail outlets loyalty programs• Readiness Stage• Attitude towards the product
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Psychographics Segmentation
• Lifestyle
Ashirvad ready to eat package foods
• Personality
• Values
Raymonds the complete man
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Multi-attribute Segmentation
• Age, Family size, Family life cycle, Gender, income
• Occasion
• Benefits
• User status
• Region
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Target Marketing
A market segment must be
Measurable
Substantial
Accessible
Differentiable
Actionable
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Selecting the market segment
• Single segmentation concentrationEx woodland shoes• Selective specializationAnchor tooth paste• Product specializationM&M and Bajaj• Market specializationPearsons publication of management books• Full Market coverage PEPSI, Coke, Bata
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Other issues
• Segment Interrelationship
• Segment by segment invasion plans
Megamarketing
• Intersegment cooperation
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Positioning
• Positioning is the act of designing the companies offering and image to occupy a distinctive place in the mind of the target market
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Building value proposition
• Define the customer value
• Building the customer value hierarchy
• Deciding the customer value package
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Product differentiation
• Differentiation is designing a set of meaningful differences to distinguish the company’s offering from competitors offering
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Developing and communicating a media strategy
• Important
• Distinctive
• Superior
• Preemptive
• Affordable
• Profitable
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Four positioning errors
• Under positioning
• Over positioning
• Confused positioning
• Doubtful positioning
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Positioning strategy
• Attribute positioning
• Benefit positioning
Close-up fresh breath,
Pepsodent – 24 hr protection
• Use or application positioning
• User positioning
• Competitor positioning
• Product category positioning
• Quality or price positioning
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Positioning strategy
• Life style positioning
Ashirvad ready to eat package foods
• Positioning by personality of celebrity
Provogue and Fardeen Khan
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Benefit positing
• Headline: Charge up your workplaceSubhead: Tencel A 100. 440 V CollectionBodycopy: What's new? Allen Solly's Tencel A100 fabric absorbs colour like no other. Making it the brightest shirt you'll ever wear. In 35 different patterns!
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Product category positioning
• Subhead: To Indian housewives, our salt always come first.Bodycopy: Tata salt was rated the most trusted brand by housewives across India, in a recent Brand Equity-ORG Marg Survey. Thank you for the faith.Baseline: Maine desh ka namak khaya hai!
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