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Marketing Strategy

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Market Segmentation

Market Segmentation

Published in Business , Technology
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Transcript

  • 1. Marketing Strategy GROUP MEMBERS: AMIT DANGI NEVEEN BUKER ROHIT DHAULA VIJAY KUNDRA
  • 2. TODAY’S AGENDA I. Segmentation goals. II. Why segmentation? III. Common methods of segmentation.
  • 3. Market Segmentation Identifying and profiling distinct groups of buyers who differ in their needs and preferences.
  • 4. SEGMENTATION GOALS  Market demand and market potential can be measured  Customer behavior is similar within segments and different from other segments  Segment members are reachable  Ease of implementation can be achieved at local level
  • 5. Bases for Segmentation  Geographic  Demographic  Psychographic  Behavioral
  • 6. Geographic  Nation or country  State or region  City or metro size  Density  Climate
  • 7. Demographic  Age, gender  Income,  Family size  Family life cycle  Occupation  Religion, nationality  Generation  Social class
  • 8. Psychographic  Lifestyle  Activities  Interests  Opinions  Personality  Core values
  • 9. Behavioral  Occasions  Benefits  User status  Usage rate  Loyalty status  Attitude
  • 10. Measures of effective segmentation  Practicality How useful and actionable is the segmentation scheme?  Reliability How stable and reproducible is the segmentation scheme?  Validity Are the segments different on true, meaningful characteristics?
  • 11. WITHOUT AN EFFECTIVE MARKETING STRATEGY  Resources are being used ineffectively  Highest profit customers–current and potential– may be at risk  Value destroyers erode profitability  Product offerings are sub-optimal  Channels are misaligned versus customer requirements and profitability
  • 12. Thank You