Grade 11 CBSE Marketing segmentation project

2. The Indian High School, Dubai
BONAFIDE CERTIFICATE
Certified that this project “Market Segmentation” is a Bonafide work of Benifa
Fernandes who carried out the project under my supervision.
Signature of Teacher-In-Charge: ________________

3. ACKNOWLEDGEMENT
I would like to give my special thanks to my teacher Mrs. Rennet and my Section
Supervisor, Mrs. Pranita who have given me the opportunity to make this wonderful
project on the topic, ‘Market Segmentation’. This project has helped me in doing a lot
of research and also I learnt about many things.
My heartfelt appreciations to them.
Secondly, I would like to thank my parents and friends who have been an immense
support to complete this project in a very limited time.
I am making this project not just for marks but also to increase my knowledge and
skills.
Thanks to everybody who has helped me make this wonderful project.

4. METHODOLOGY
To attain the introduction data for my project, I used various websites on the internet
as my resources. I also researched about the segmentation of products by the
company chosen by me. Later, I made my own company, with a customized logo and a
unique name. And segmented the product produced on the various segmentation
basis learnt from our marketing notes. I have also provided evidences of the different
kinds of products offered by my company.

5. INDEX
S. No Content Page No.
1. INTRODUCTION 6
2. BASES OF SEGMENTATION 7
3. COMPANY SEGMENTATION (ROLEX WATCHES) 11
4. THEIR SEGMENTATION 12
5. MY SEGMENTATION (CHANDELIERS) 15
6. SEGMENTATION BASES 16
7. PRODUCT LINE 18
8. CONCLUSION 22
9. BIBLIOGRAPHY 23

6. INTRODUCTION
 Market segmentation is the science of dividing
an overall market into customer subsets or
segments, which is in segment sharing similar
characteristics and needs. Segmentation
typically involves significant market research
and can thus be costly.
 In dividing or segmenting markets, researchers
typically look for shared characteristics such
as common needs, common interests, similar lifestyles or even similar demographic profiles.
 The overall aim of segmentation is to identify high yield segments – that is, those segments that
are likely to be the most profitable or that have growth potential – so that these can be selected
for special attention (i.e. Become target markets).
 Many different ways to segment a market have been identified. Business-to-business (B2B)
sellers might segment the market into different types of businesses or countries. While business
to consumer (B2C) sellers might segment the market into demographic segments, lifestyle
segments, behavioral segments or any other meaningful segment.
 Market segmentation assumes that different market segments require different marketing
programs – that is, different offers, prices, promotion, distribution or some combination of
marketing variables. Market segmentation is not only designed to identify the most profitable
segments, but also to develop profiles of key segments in order to better understand their needs
and purchase motivations.
 Many marketers use the S-T-P
approach; Segmentation→ targeting
→ positioning to provide the framework for
marketing planning objectives. That is, a market
is segmented, one or more segments are
selected for targeting, and products or services
are positioned in a way that resonates with the
selected target market or markets.

7. BASES OF SEGMENTATION
The most common bases for segmenting
markets are as follows:
 Geographic: Geographic
location is one of the simplest
methods of segmenting the
market. People living in one region
of the country have purchasing
and consuming habit which differs
from those living in other regions.
For example, life style products
sell very well in metro cities, e.g.,
Mumbai, Delhi, Kolkata and Chennai
but do not sell in small towns.
Banking needs of people in rural areas differ from those of urban areas. Even within a
city, a bank branch located in the northern part of the city may attract more clients
than a branch located in eastern part of the city.

8.  Demographic: Demographic segmentation is one of the simplest and widest types
of market segmentation used. Most companies use it to get the right population in
using their products. Segmentation generally divides a population based on variables.
Demographic variables such as age, occupation, education, sex and income are
commonly used for segmenting markets:
 Age: New born, kids (3-12), teenagers (13-18), adults (18 and above), retired.
 Sex: Male and Female
 Occupation: Agriculture,
industry, trade, students,
service sector, house-
holds, institutions.
 Industrial sector: Large,
small
 Trade: wholesale, retail,
exporters
 Family Life-cycle: Young single, young married no children, young married youngest
child under six, young married youngest child over six, older married with children,
older married no children under eighteen, older single, etc.
 Income Level: Above Rs. 1 lakh per annum, Rs. 50,000 to Rs. 1 lakh, Rs. 25,000 to Rs.
50,000 per annum, i.e., higher, middle and lower.

9.  Psychographic: By segmenting the market based on psychographic characteristics
you are able to be more niche in your advertising buys; maximizing exposure to key
segments. As a result, your money is spent more wisely and you should see an increase in
your ad spend efficiency or a greater return on investment. You also can appeal more
specifically to motivations in your messaging, which improve your conversion rate.
Psychographic characteristics also play a key role in developing your target market
personas.
Some of the major types of
psychographic segmentation include:
 Personality Traits: Brands, products, and
services all have personalities.
Marketers will often create these
personalities to match the personality
traits of their target market. When a
consumer can relate to the
characteristics of a brand, product, or
service they are more likely to engage
with it.
 Lifestyle: Different people have different
lifestyle patterns and their wants and needs change based on those patterns. When segmenting
your market based on this psychographic characteristic marketers promote their products as
solutions to those wants and needs. Segmentation by lifestyle considers where the consumer is in
their life cycle and what is important to them at that exact time.
 Opinions, attitudes, interests and hobbies: Includes opinions on religious, gender and politics,
views on the environment, sporting and recreational activities, and arts and cultural issues. The
opinions your market segments hold and activities they engage in will have a huge impact on the
products and services they buy, and even how they respond to your messaging. This is the richest
area of opportunity in online marketing and particularly with social media.
 Degree of loyalty: Customers who buy your brand either all or most of the time are extremely
valuable. By segmenting in this way, you can adapt marketing vehicles and messaging to retain
your loyal customers. A rule of thumb is that it is 10-times more profitable to sell to existing
customers than to find and sell to new ones.
 Occasions: If your product or service is purchased or consumed around an event or occasion, it
makes a lot of sense to segment this way. Purchases made for weddings, holidays, etc. are

10. examples. If the offering fits into this category, you may want to experiment with broadening
usage to other times by using benefits sought, lifestyle or attitudes segmentation as well.
Proper psychographic segmentation is a more costly segmentation approach; however, when you
can group prospective purchasers into meaningful groups that define choices they make and
messages that resonate with them you will have a more effective and successful marketing
campaign.
 Behavioral: Behavioral segmentation divides consumers into groups according to their
observed behaviors. Many marketers believe that behavioral variables are superior to
demographics and geographies for building market segments. Typical behavioral
variables and their descriptors include:
 Purchase/Usage Occasion: e.g. regular occasion, special occasion, festive occasion, gift-
giving
 Benefit-Sought: e.g. economy, quality,
service level, convenience, access
 User Status: e.g. First-time user, Regular
user, Non-user
 Usage Rate/ Purchase Frequency: e.g. Light
user, heavy user, moderate user
 Loyalty Status: e.g. Loyal, switcher, non-
loyal, lapsed
 Buyer Readiness: e.g. Unaware, aware,
intention to buy
 Attitude to Product or Service: e.g.
Enthusiast, Indifferent, Hostile; Price
Conscious, Quality Conscious
 Adopter Status: e.g. early adopter, late
adopter, laggard.

11. COMPANY SEGMENTATION: (ROLEX WATCHES)
Rolex SA is a Swiss luxury watchmaker. The company and its subsidiary Montres Tudor SA design,
manufacture, distribute and service
wristwatches sold under the Rolex
and Tudor brands. Founded by Hans
Wilsdorf and Alfred Davis in London,
England in 1905 as Wilsdorf and
Davis, Rolex moved its base of
operations to Geneva, Switzerland in
1919.
Forbes ranked Rolex 64th on its 2016
list of the world's most powerful
global brands. Rolex is the largest
single luxury watch brand, producing about 2,000
watches per day.
The company is owned by the Hans Wilsdorf
Foundation, a family private trust which does not pay
corporate tax. Rolex watches are crafted from the
finest raw materials and assembled with scrupulous
attention to detail. Every component is designed,
developed and produced in-house to the most
exacting standards.
Pioneer of the wristwatch since 1905, Rolex is at the
origin of landmark innovations in watchmaking,
including the first waterproof wristwatch - the
Oyster - and the Perpetual rotor self-winding
mechanism. For over a century, Rolex watches have
accompanied explorers and achievers around the
world, from the top of the highest mountains
to the deepest reaches of the ocean.
Roger Federer has estimated earnings of $67.8 million. He is a brand ambassador for Rolex . The
17-time Grand Slam tennis champion – currently in the running at Wimbledon – has been spotted
wearing a Rolex Oyster Perpetual DateJust.

12. THEIR SEGMENTATION:
Geographic Segmentation:

13. Demographic segmentation:
1. Age: 18 and above
2. Gender: Male and Female

14. 3. Religion: All
4. Marital status: none
5. Occupation: reputed working class
6. Income: Middle and Upper middle class
Psychographic:
1. Lifestyle: Luxurious lifestyle
2. Activities, interests and opinions (AIO): Target group includes businessmen, athletes,
astronauts, deep sea divers, alpinists and people with high income. Highly educated individuals
who are self-determined and therefore are concerned more about product quality and
technology than price. Rolex stands high on these aspects.
3. Social Status: High income groups
4. Personality traits: Tech-savvy top professionals who are at top level in organizations,
middle class consumers who are striving to become established professionals.
5. Values and attitudes: educated elite class people with high income, professionals, and
aesthetic people.

15. MY SEGMENTATION (CHANDELIERS):
At Flare Chandeliers we strive in creating unique, beautiful pieces thought
to suit your home and your personal taste. That’s why we are always happy
to customize sizes, colors and some design features of all our chandeliers.
Our team advise our customers about the right size and length of
chandelier for the space.
To receive our catalog by email and to view our beautiful collection of art
glass lighting, contact us flarechandeliers@gmail.com
or visit www.Flarechandeliers.com
call 055147900
you are invited to visit our first modern chandeliers Dubai showroom.
WE DELIVER WORLDWIDE!
Founded in 2017 by owner and interior designer Benifa
Fernandes

16. GEOGRAPHIC SEGMENTATION:
Spread among the world’s strongest and rich countries like:
 UAE
 UK
 France
 Japan
 Singapore
 US
 Cairo
 India
DEMOGRAPHIC SEGMENTATION:
i. Age: Young- Adults
ii. Gender: Male and Female
iii. Income: Middle and Upper middle class
iv. Education: All kinds
v. Occupation: All kinds
vi. Family Size: Kids, Teenagers, big/small families with/without children.
vii. Caste/ Religion: All

17.  PSYCHOGRAPHIC SEGMENTATION:
Personality: Indian film producer and interior designer Gauri Khan to endorse Flare
Chandeliers.
1. Lifestyle: for home lighting enthusiasts, home decorators, interior designers etc.
2. Activities, interests and opinions (AIO): Target group includes anyone with an interest
in lighting décor.
3. Social Status: middle class, upper middle class and upper class.
4. Personality traits: people with creative lighting tastes
5. Values and attitudes: Creative people, people who are interested in lighting.

18. PRODUCT LINE:
1. Kids:

19. 2. Teenagers (girls):

20. 3. Teenagers (boys):

21. 4. Adults:

22. CONCLUSION:
o To reach different markets or promote products or services to different locations or
different people companies use a method called market segmentation.
o Market segmentation is very important for most of all companies around the world.
o If a company cannot reach the market or area they will not succeed; or the product or
service they provide too expensive so the market they are in cannot afford, surely that
company cannot expect to prosper but even fails as a company.
o It is important for international firms that entering to a foreign market or international
market, taking into account the sub-cultural groups and focusing on their needs as many
large international companies finding it increasingly difficult to operate in global stage and
retain customers’ loyalty.
o To be effective, after suitably researching the market , probably the most important this
is to carry out the process of market segmentation in logical and systematic manner.
o If the process of market segmentation is carried out thoroughly, then the firm should
benefit in terms of better competitive position for its products or services, resulting in
greater sales and profitability.
o After all, the whole rationale of the marketing concept is increased business effectiveness
through the provision of customer satisfaction.

23. BIBLIOGRAPHY:
1. https://en.wikipedia.org/wiki/Market_segmentation
2. http://www.yourarticlelibrary.com/marketing/marketing-
management/market-segmentation-7-bases-for-market-
segmentation-marketing-management/27959/
3. https://www.localdirective.com/what-we-do/market-
segmentation/psychographic/
4. https://en.wikipedia.org/wiki/Rolex
5. https://www.rolex.com/?ef_id=WWZMBgAABOUc-
Cby:20170730121220:s
6. https://www.rolex.com/rolex-history.html
7. https://www.slideshare.net/SiddharthManiyar/rolex-report
8. http://slideplayer.com/slide/9344208/