Presented by Darpan Kr. Pandey MBA 3RD SEMPUNJAB INSTITUTE OF MANAGEMENT & TECHNOLOGY MANDI GOBINDGARH
MARKET SEGMENTATION The process of dividing the total market for a product or service into smaller, more manageable subsets or groups of customers. Market segmentation is a concept in economics and marketing. A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function. .
WHO USES MARKET SEGMENTATION? Marketer use the market segmentation for making marketing strategy .
BASES FOR SEGMENTATION? Geographic segmentation Market is divided by location. The theory behind this strategy is that people who live in the same area share similar needs and wants .
DEMOGRAPHIC SEGMENTATION Under this segmentation, market is divided on the basis of age, sex, marital status, income, occupation and education.
PSYCHOLOGICAL SEGMENTATION Psychological characteristics refer to the inner or intrinsic qualities of the individual consumer. Consumer may be segmented in terms of their motivations, personality, perception and learning.
PSYCHOGRAPHIC SEGMENTATION Under this segmentation market is divided on the basis of consumer activities, interests, and opinions.
SOCIOCULTURAL SEGMENTATION According to this segmentation market is divided on the basis of family life cycle, social class, cultural values.
USAGE – SITUATION SEGMENTATION According to this segmentation market is divided on the basis of occasion or situation.