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Market segmentation

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Jayendra Kapadiya

This document discusses market segmentation. It defines market segmentation as dividing a market into subgroups with distinct needs or behaviors that may require separate products or marketing strategies. Segmenting a market has benefits like efficient use of resources, better understanding of customer needs, and accurate goal measurement. Successful segmentation requires the segments to be identifiable, accessible, responsive, sizable, and measurable. The document outlines various bases for segmentation, including geographic, demographic, psychographic, and behavioral factors. It provides examples to illustrate each segmentation type.

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MARKETING MANAGEMENT Market Segmentation:- Unit 1, Chapter 2: Prepared by: Siddhraj Chauhan Jayendra Kapadiya
Market Segmentation Contents include: 1. What is Market Segmentation ? 2. Need for Segmenting Market. 3. Criteria for Successful Segmentation. 4. Segmenting Consumer Market.
* What is Market Segmentation ? According to Philip Kotler, Market Segmentation is the process of dividing a market into distinct subgroups of consumers with distinct needs, characteristics or behaviour, who might require separate products or marketing mixes.
Need for Segmenting Market: 1. Efficient use of marketing resources. 2. Better umderstanding of consumer needs 3. Better understanding of the competitive situation. 4. Accurate measurement of goals and performance.
Criteria for Successful Segmentation: 1. Identity 2. Accessibility 3. Responsiveness 4. Size 5. Nature of Demand 6. Measurability
Bases for Market Segmentation * Geographic Segmentation: Nations Regions States Cities Urban Rural Semi-urban Neighbourhoods E.g. Woollen clothes sold in North India, PCs & Laptops sold in Cities, Tractors & Fertilizers sold in Rural areas
* Demographic Segmentation: Age Gender Family Size Family life cycle Income Occupation Merital Status Religion Education Race Generation Nationality E.g. Garments-Children's, Women's, Mens Cosmetics & toiletries-Beauty aid for women & shaving aid for men Airlines-Economy class, Club/Executive class Fridge-Size like 200,250,300 litres for different family size
* Psychographic Segmentation: Social Class Life style Personality Spiritual Status Feelings Values Attitude E.g. Coke & Pepsi-Popularity in Villages Titan Watches-FastTrack meant for teenagers for casual, stylish look Mercedes Benz-Social & Elite Status
* Behavioural Segmentation: Knowledge Preference Attitude Brand Loyalty Moral Response Uses Price Sensitivity E.g. Occasions-Jewellery & Saris on Festival & Wedding Benefits-Fortuner Car, Creta car
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Market segmentation

  • 1. MARKETING MANAGEMENT Market Segmentation:- Unit 1, Chapter 2: Prepared by: Siddhraj Chauhan Jayendra Kapadiya
  • 2. Market Segmentation Contents include: 1. What is Market Segmentation ? 2. Need for Segmenting Market. 3. Criteria for Successful Segmentation. 4. Segmenting Consumer Market.
  • 3. * What is Market Segmentation ? According to Philip Kotler, Market Segmentation is the process of dividing a market into distinct subgroups of consumers with distinct needs, characteristics or behaviour, who might require separate products or marketing mixes.
  • 4. Need for Segmenting Market: 1. Efficient use of marketing resources. 2. Better umderstanding of consumer needs 3. Better understanding of the competitive situation. 4. Accurate measurement of goals and performance.
  • 5. Criteria for Successful Segmentation: 1. Identity 2. Accessibility 3. Responsiveness 4. Size 5. Nature of Demand 6. Measurability
  • 6. Bases for Market Segmentation * Geographic Segmentation: Nations Regions States Cities Urban Rural Semi-urban Neighbourhoods E.g. Woollen clothes sold in North India, PCs & Laptops sold in Cities, Tractors & Fertilizers sold in Rural areas
  • 7. * Demographic Segmentation: Age Gender Family Size Family life cycle Income Occupation Merital Status Religion Education Race Generation Nationality E.g. Garments-Children's, Women's, Mens Cosmetics & toiletries-Beauty aid for women & shaving aid for men Airlines-Economy class, Club/Executive class Fridge-Size like 200,250,300 litres for different family size
  • 8. * Psychographic Segmentation: Social Class Life style Personality Spiritual Status Feelings Values Attitude E.g. Coke & Pepsi-Popularity in Villages Titan Watches-FastTrack meant for teenagers for casual, stylish look Mercedes Benz-Social & Elite Status
  • 9. * Behavioural Segmentation: Knowledge Preference Attitude Brand Loyalty Moral Response Uses Price Sensitivity E.g. Occasions-Jewellery & Saris on Festival & Wedding Benefits-Fortuner Car, Creta car

Editor's Notes

  1. Prepared by : Jayendra Kapadiya Siddhraj Chauhanh