MARKET SEGMENTATION  Is a process of identifying groups of buyers with different                   desires & requirements”...
NATURE / CHARACTERISTICS•   Heterogeneous Market•   Primary marketing Activity•   Dividing the market•   Bases of market s...
IMPORTANCE•   Identify & take advantages of market opportunities•   Adjustments in marketing mix•   Develop marketing prog...
BASIS OF MARKET SEGMENTATIONGEOGRAPHIC      DEMOGRAPHIC     SOCIOGRAPHIC   Region            Age            CultureRural /...
NICHE MARKETING• In market segmentation the full market is divided into small segments.  Each segment is again subdivided ...
CUSTOMER RELATIONSHIP MANAGMENT•   Better services to customer•   Customized / tailor made offers•   Reduces customers def...
TECHNIQUES OF BUILDING CRM•   Data Warehousing and data mining•   One – to – one marketing•   Loyalty programs•   Priority...
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Chapter 4. market segmentation

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Chapter 4. market segmentation

  1. 1. MARKET SEGMENTATION Is a process of identifying groups of buyers with different desires & requirements”.Means to divide total market for product into small segments & is done on the basis of income, age, sex, etc.Market means consumers &segmentation means to divide so it means to divide the total consumers into small groups
  2. 2. NATURE / CHARACTERISTICS• Heterogeneous Market• Primary marketing Activity• Dividing the market• Bases of market segmentation• Continuous process• Consumer centric• Consumer satisfaction & fights competition• Process• Gives many benefits• Limitations
  3. 3. IMPORTANCE• Identify & take advantages of market opportunities• Adjustments in marketing mix• Develop marketing programs & budget• Design the product• Media selection• Fix the timing of advertising / marketing efforts• Efficient use of Resources• Better services to consumers• Fix prices• Distribution stratergies
  4. 4. BASIS OF MARKET SEGMENTATIONGEOGRAPHIC DEMOGRAPHIC SOCIOGRAPHIC Region Age CultureRural / Urban Sex Social class Locality Income, etc Reference groups PSYCHOGRAPHIC BEHAVIOURAL Life Style Usage Rate Personality User Status
  5. 5. NICHE MARKETING• In market segmentation the full market is divided into small segments. Each segment is again subdivided into very small parts. Each part is called a niche market. It is a very selective market. It is very target market. It contains very small no. of consumers.• Single niche strategy• Multiple niching strategy• Geographic specialist• Product specialist• Service specialist• Channel specialist• Quality / price specialist• Customer specialist• Job – shop specialist
  6. 6. CUSTOMER RELATIONSHIP MANAGMENT• Better services to customer• Customized / tailor made offers• Reduces customers defection rate• Increases long – term relationships• Increases customer equity• Competitive advantage• Improves corporate image• Easy to introduce new products• Expansion• Low advertising budget
  7. 7. TECHNIQUES OF BUILDING CRM• Data Warehousing and data mining• One – to – one marketing• Loyalty programs• Priority customer programs• Know customers by name• Spend quality time with customer• Provide Best Quality products & services• Invite suggestions & complaints from customers

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