Marketing management

1. 𝐵
𝓎
𝒜𝓈𝒷𝒶𝓀𝒶𝓁𝒾.𝒥
𝐵𝟤𝟢𝟧𝟢𝟨

2. MARKET
A set-up where two or more parties (also
called buyers and sellers) are engaged in
transaction of goods and services in
exchange of money is called a market.

3. What is Market
Segmentation
A marketing concept which divides the
complete market set-up into smaller
subsets comprising of consumers
with a similar taste, demand and
preference Where, one market segment
is totally distinct from the other
segment.

4. Need for Market Segmentation
 Helps the marketers to understand the needs of the target audience
 Helps the marketers to devise appropriate marketing strategies and
promotional schemes
 Gives the customers a clear view of what to buy and what not to
buy→
 Helps the organizations to target the right product to the right
customers at
 Reach a wider audience and promote their products more efficiently

5. CRITERIAFOREFFECTIVEMARKETSEGMENTATION

6. STEPS IN MARKETSEGMENTATIONPROCESS
 Identify Market Segments
 Develop Profiles for Each Segment
 Evaluate Market Segments
 Select Best Market Segment
 Develop a Positioning Strategy
 Focus on Marketing Program

7. Types of Market Segmentation

8. BUYER BEHAVIOR

9. CONSUMER BUYINGBEHAVIOR
▶ How individual groups and organization select, buy,
use, and dispose of goods, service, ideas, or experience
to satisfy their needs and wants.

10. Factors affecting Consumer Buying Behaviour
 Cultural factors
The fundamental determinants of a person's wants and
behaviour
-Marketers should decide how to best market their existing
& new products
e.g. Cultures & Sub Cultures in India
Social factors-(Reference Groups, Primary/Secondary)-
Have a direct/indirect influence on attitude it behaviour
Marketers must determine how to reach and influence
e.g
Primary - Dell & Ford Car, Sec-Religious Associations,
Political Parties

17. Characteristics of an Organizational
Buying Behavior
 Bulk Purchasing.
 Close relationships and service are needed.
 Demand is derived from the production and sales of buyers.
 Demand fluctuations are high as purchases from business buyers
magnify fluctuation in demand for their products.
 The organizational buyers are trained professionals in
purchasing.
 Several persons in organization influence purchase.
 Lot of buying occurs in direct dealing with manufacturers.

18. Factors affecting an Organisational Buying
Behaviour
 Environmental factors
Environmental factors leads to technological shift, focus shift of product to demand product the firm
is selling, sudden drop in availability of product due to rise in demand.
 Organizational factors
Changes in purchasing department organization like centralized purchasing, decentralized
purchasing, changes in purchasing practices like long-term contracts, relationship purchasing are the
organization factors.
 Interpersonal factors
These factors are the relationship between buyers and sales representatives of various competitor
companies
 Individual factors
These factors related to the buyer. What sort of ways of interacting and service are appreciated by
the buyers and what ways are considered as irritants?
Marketers have to understand the reactions of buyers.

19. DECISION MAKING PROCESS

20. EXAMPLES
 Hallmark's personal expression products are sold in more than 41,500
retail outlets nationwide and account for almost one of every two
greeting cards purchased in the United States. Each year Hallmark
produces 19,000 new and redesigned greeting cards. Hallmark has also
embraced technology. Musical greeting cards incorporate sound clips
from popular movies, TV shows, and songs. Online, Hallmark offers e
cards as well as personalized printed greeting cards that it mails for
consumers. For business needs.
 TVS Motors comes out with product 'Jupiter in two-wheeler segment to
beat *Honda Activa' and 'Hero Maestro to acquire the rest market by
designing and launching the product as similar to Honda's Activa. So study
of the market segmentation and buyers behavior made them to order,
purchase and manufacture such range of products

21. Distinguishing Factors
Organizational Market Consumer Market
Few buyers and high volume Large buyers and less volume
Customized offerings Commoditized offerings
Close supplier-customer relationship Brand association
Professional & Multiple buying influences Single or family influence on buying
Multiple sales call. Few sales call.

22. DISTINGUISHING FACTORS
ORGANIZAIONAL MARKET CONSUMER MARKET
Derived Demand Direct demand
Less influence on market Direct influence on market
Inelastic demand Elastic demand
Direct purchase from manufacuter. Purchase through show rooms, distributors etc

23. CONCLUSION
Market segmentation is required to connect to
target audience with focused energy.
Products should be designed taking in view the
problems of target market segment