mktg segment km
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Submitted by Krishna
PGDM-1st Sem (PIBM)
Market Segmentation Market Segmentation
Submitted toAalok sir
Market SegmentationMarket Segmentation
Market segmentation is a marketing Market segmentation is a marketing strategy that involves dividing a strategy that involves dividing a broad target market into subsets of broad target market into subsets of consumers who have common needs consumers who have common needs desires (demand) as well as desires (demand) as well as common applications for the common applications for the relevant goods and services.relevant goods and services.
Why need segmentationWhy need segmentation
Basis of Market Segmentation Basis of Market Segmentation
GenderGenderAge groupAge groupIncomeIncomeMarital statusMarital statusoccupationoccupation
Type of Market Segmentation Type of Market Segmentation
Situation Situation SegmentationSegmentation
Psychographic Psychographic
SegmentationSegmentation
Geographic Geographic SegmentationSegmentation
Behavior/UsageBehavior/Usage SegmentationSegmentation
Demographic Demographic SegmentationSegmentation
Benefits-SoughtBenefits-Sought SegmentationSegmentation
FamilyFamilyFamilyFamily
Income LevelIncome LevelIncome LevelIncome Level
EthnicityEthnicityEthnicityEthnicityEducationEducationEducationEducation
AgeAgeAgeAge
Demographic SegmentationDemographic Segmentation
Cont...
Demographic SegmentationDemographic SegmentationAge Income level
Cont…
Demographic SegmentationDemographic SegmentationFamily consideration Family Life Cycle Bachelor, marriage, married with children, retired, etc.
Education Some products are marketed to consumers with certain educational levels
Cont…
Demographic SegmentationDemographic Segmentation
Ethnicity :- Some products are marketed to consumers from specific ethnic backgrounds
Geographic SegmentationGeographic Segmentation
When an organization localizes its marketing When an organization localizes its marketing efforts to accommodate the unique needs of efforts to accommodate the unique needs of specific geographic regions, cities, states, specific geographic regions, cities, states, countries, Population.countries, Population.
Psychographic SegmentationPsychographic Segmentation
Grouping customers together based on social class, lifestyles and psychological characteristics (attitudes, interests and opinions)
Benefits-Sought SegmentationBenefits-Sought Segmentation
Markets can be segmented based on the Markets can be segmented based on the benefits that consumers desire from using benefits that consumers desire from using a specific product.a specific product.
Situation SegmentationSituation Segmentation
Purchase situation or occasionPurchase situation or occasion Physical surroundingsPhysical surroundings Social surroundingsSocial surroundings Temporal perspectiveTemporal perspective
• How much time to make a purchase?
Pre-purchase attitudePre-purchase attitude
Behavior/Usage SegmentationBehavior/Usage Segmentation
Markets can be segmented by how often or how Markets can be segmented by how often or how heavily consumers use a specific productheavily consumers use a specific product 80/20 Principle - 80% of revenue generated by 20% 80/20 Principle - 80% of revenue generated by 20%
of customersof customers
Light Users
80%Heavy Users
20%
Advantage of Marketing SegmentationAdvantage of Marketing Segmentation
Easier analysis of consumers.Easier analysis of consumers. Assessment of demand potential.Assessment of demand potential. Identify competing products.Identify competing products. Increased sales effectiveness and Increased sales effectiveness and
cost efficiencies.cost efficiencies. Product positioning and easy Product positioning and easy
identification of opportunities.identification of opportunities.
Disadvantage of Marketing SegmentationDisadvantage of Marketing Segmentation
DisadvantagesDisadvantages Increased marketing costsIncreased marketing costs Narrow segmentation can Narrow segmentation can
impact brand loyalty.impact brand loyalty.