Market Segmentation

Submitted to: Sunny Dawar
Submitted by: Satish,Saurav,Ramratan,Ravis hankar & Rishikesh

Market Segmentation is the process of dividing a market into distinct subgroup of consumer with distinct needs, characteristics, or behaviour who might require separate products or marketing mixes

Market Segmentation consists of taking the total heterogenous market for a product & dividing into several sub market of segments, each of which tends to be homogenous in full siginifacant aspects – William Stanton

A

market segment consist of a group of customer who share a similar set of wants  The marketers doesn’t create the segments but identify the segments & dedicate which one to target  Segmentation gives special emphasize on the demand side of the market.

Geographic

Demographic

Psychographic

Region  City  Rural and semi-urban areas Example Wollens sold in North India and limited in the South like Banglore, hydrebad. Tractors and fertilizers sold in rural areas while PCs/Laptops in cities


 Metros,

Urban, Sub-Urban and Rural distribution of the population  Age group- distribution of population, education, occupation, language, nationality, family life cycle, size of the family  Social economic- income level, culture, regional and social class  Types of family-joint and neutral

 Socio

economic Classification (SEC)

 Lifestyle  Personality

 Measurability-

The size and purchasing power of segments can be measured  Accessibility- The degree to which the segments can be effectively reached and served  Sustainability- The segments can be effectively reached and served  Actionability- Attracted programme can be formulated for attracting & serving the segments