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STPD (Pillars of marketing)

Published in: Business, Health & Medicine
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  1. 1. Segmentation Strategy One Pillar of marketing
  2. 2. Identifying Market Segments and Targets
  3. 3. Segment MarketingTargeting a group of customers who share a similar set of needs and wants.
  4. 4. Customerization Combines operationally drivenmass customization with customized marketing in a way that empowersconsumers to design the product and service offering of their choice.
  5. 5. Segmenting Consumer Markets Geographical Demographical Psychographic Behavioral
  6. 6. Bases of segmentation1.Geographic region, city, density, climate2.Demographic age, sex, marital status, family size, income3.Psychological need-motivation, personality, perception, attitude4.Psychographic lifestyle5.Socio-cultural culture, religion, language, family life-cycle6.Use-related usage rate, awareness status, brand loyalty7.Use-situation time, objective, location, person8.Benefit9.Hybrid mix of other bases of segmentation
  7. 7. Demographic Segmentation Age and Life Cycle Life Stage Gender Income Generation Social Class
  8. 8. Behavioral Segmentation Decision Roles Behavioral Variables• Initiator • Occasions• Influencer • Benefits• Decider • User Status• Buyer • Usage Rate• User • Buyer-Readiness • Loyalty Status • Attitude
  9. 9. Patterns of Target Market Selection
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  11. 11.
  12. 12. Effective Segmentation Criteria Measurable Substantial Accessible Differentiable Actionable
  13. 13. In 2004, HLL (Now HUL) was thelargest FMCG company in India.It was present in manysegments.HUL is a highly consumer-focused company with differentbrands catering to differentconsumer segments with differentneeds and purchasing power Surf high-end consumers Rin mid-market segment Wheel lower end market Axe men Ponds & Rexona women Elle 18 (Lakme) early teens & young adults Sunsilk(shampoo) hair expert Clinic plus healthy hair (anti-dandruff)
  14. 14. Defining market segmentation • The process of dividing the market on various criteria like age, sex, region, culture, etc. • Segmentation can take place at various levels – – Segment marketing : dividing the market into large homogeneous segments on the basis of variables like common needs, purchasing power, region, or age. Lakme cosmetics, for e.g., caters to the basic need of women to look good. – Niche marketing: is a specialized market segment, niches are quite small and have much less competition. E.g., magazines targeted at specific sports like golf (Golf Digest). – Local marketing : involves customizing the global products to suit local tastes. E.g., McDonald’s McAloo Tikki and McVeggie. – Individual marketing : is the highest level of customization, where each product or service is tailor-made for an individual consumer. E.g., designer cars by DilipC habria (DC)