Market segmentaion and basis for market segmentation
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4. Market: In marketing the term market refers
to the group of consumers or organizations
that interested in the product, has the
resource to purchase the product and has a
willing too.
E.g vegitable market
Cosmetics market
Clothes market
5. Segmentation mean dividing and subdividing
a larger market into a group of smaller
markets according the needs and wants of
customers.
The purpose of segmentation is to enables
companies to target different customers and
consumers who have common needs and
priorities and then designing and
implementing strategies to target them.
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8. Niche marketing is a focused targetable part
of the market concentrating on small but
specific and well defined segment of
population.
Niches do not exist but are created by
identifying needs, wants and requiremets
that are being addressed poorly or not at all
by any other firm.
9. It is a small market segment
E.g
Ptv sports
Stars ports
Star criket
ESPN sports
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15. Local Marketing—
also referred to as
local store marketing or neighborhood
marketing—specifically targets the
community around a physical store or
restaurant.
Promotional messages are directed to the
local population, rather than the mass
market.
16. People like to shop and eat near their homes;
it saves time and is more convenient.
Residents create their own “mental maps” of
the surrounding area, with favorite
restaurants and particular stores quickly and
easily remembered.
They develop shopping and eating habits
based upon these maps, engaging in a great
deal of repeat business.
17. Geographic segmentation is used by companies
that sell products or service specific to a certain
community, state, region, country or group of
countries. Local businesses usually get no
benefit in paying for national or international
advertising. Companies that operate nationally
can often save by delivering the same marketing
messages to a national audience through one
television, radio, magazine or newspaper ad.
Global businesses typically decide whether to
maintain a universal message or tailor messages
to each country's marketplace.
18. Geographic segmentation is a common
strategy when you serve customers in a
particular area, or when your broad target
audience has different preferences based on
where they are located.This marketing
approach is common for small businesses
that serve a wide demographic customer
base in a local or regional territory.
19. There are several ways that a market can be
geographically segmented.You can divide
your market by geographical areas, such as
by city, county, state, region (such asWest
Coast), country, or international region (such
as Asia).You can also divide the market into
rural, suburban, and urban market segments.
You can segment a market by climate or total
population in each area.
20. Demographic market segmentation is one of the
most common approaches to segmenting
markets.With this strategy, a company simply
divides the larger market into groups based on
several defined traits. Age, race, gender, marital
status, occupation, education and income are
among the commonly considered demographics
segmentation traits. As a simple example of
usage, a company that sells feminine hygiene
products will include "female" in its description
of its primary market segment
21. On the basis of .
Gender
Income level
Age
Occupation
Marital status
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23. Psychographic segmentation is dividing
your market based upon consumer
personality traits, values, attitudes, interests
and lifestyles. Segmentation will allow you to
better develop and market your products
because there will be a more precise match
between the product and each segment's
needs and wants.
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25. On the basis of.
Social class
Lifestyle
Personality characteristics
