Market segmentation

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Market segmentation

  1. 1. What is Segmentation ? Segmentation refers to a process of dividing a large unit into various small units which have more or less similar or related characteristics.
  2. 2. Market segmentation Market segmentation means dividing the total market for a product into different parts i.e segments on certain bases and using each segment fully for the purpose of marketing and sales promotion.
  3. 3. Market Aggregation The market •No segmentation •heterogenous customers •homogenous product •no differentiation 5
  4. 4. Segmentation It is dividing the market into distinct group of customers with similar requirements S-1 Segments must be • Identifiable • Measurable • Accessible, reachabl e S-3 Good market segmentation  has internally homogenous members and  is externally heterogeneous S-2 • Substantial enough • Unique enough • Durable/stable 6
  5. 5. , Basic features Needs and wants, Financial position i.e purchasing power, Willingness to buy, Likes and dislikes and Social and cultural background.
  6. 6. Benefit of market segmentation In market segmentation , we first identify the wants of the customers with in a sub market and then decide if it is practical to develop a marketing mix to satisfy those want and the company also earn more profit.
  7. 7. Geographic Segmentation  In geographical segmentation, market is divided     into different geographical units like: Regions (by country, nation, state, neighborhood) Population Density (Urban, suburban, rural) City size (Size of area, population size and growth rate) Climate (Regions having similar climate pattern
  8. 8. Demographic Segmentation  In demographic segmentation, market is divided into          small segments based on demographic variables like: Age Gender Income Occupation Education Generation Family size Religion Nationality
  9. 9. Psychographic Segmentation  In Psychographic Segmentation, segments are defined on        the basis of social class, lifestyle and personality characteristics. Psychographic variables include: Interests Opinions Personality Self Image Activities Values Attitudes
  10. 10. Behavioral Segmentation Behavioral Segmentation  In this segmentation market is divided into segments       based on consumer knowledge, attitude, use or response to product. Behavioral variables include: Usage Rate Product benefits Brand Loyalty Price Consciousness Occasions (holidays like mother’s day, New Year and Eid) User Status (First Time, Regular or Potential)
  11. 11. Thanks
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