This document discusses market segmentation and targeting. It defines a market segment as a group of customers who share similar needs and wants. It describes different ways to segment markets, including geographic, demographic, psychographic, and behavioral segmentation. Effective segmentation involves identifying distinct customer groups, selecting one or more segments to target, and establishing the benefits of the offering for those segments. The document provides examples of segmentation frameworks and outlines the steps in the segmentation and targeting process.
Suresh Kumar, the Regional Marketing Manager of Electrical Equipment Ltd. (EEL) negotiated a deal with Voltas Ltd. to supply 10 flame-proof motors. EEL had already given a 20% discount on the basic price in their initial quotation. In negotiations, Suresh offered an additional 12% discount to secure the order over competitors like Siemens, ABB, and Kirloskar. As part of the deal, EEL also offered a 12-18 month warranty and free after-sales service for the same period.
Pond's aims to gain 35% market share in facial care products in India by 2020. Currently it has a 10.13% market share. Face washes constitute the largest segment within personal care with Pond's having an 85% share of the 400 crore rupees face wash market. Market research shows consumers prefer products with good price, freshness, fragrance, cleansing action and lather. Pond's is positioned below competitors on cleansing action. The document outlines strategies to improve Pond's positioning and increase sales.
This document is a presentation about product mix and dimensions given by Noman Khan. It discusses the total range of products offered by an organization as its product mix. A product mix includes product lines, which are groups of closely related products, and individual products within each line. The presentation defines several dimensions of a product mix, including width, length, depth, and consistency. It provides examples of product lines and individual products from Unilever brands like Lux, Sunsilk, Dove, Brooke Bond Supreme, and Surf Excel to illustrate these concepts.
This document provides an analysis for a potential brand extension of Pond's into women's face wash. It summarizes Pond's company evolution and ownership by Unilever. It analyzes the market, competitors, product life cycle, and FCB grid for face wash. A 4P marketing strategy is proposed targeting women ages 18-64, including price points, distribution channels, and promotional campaigns. Brand positioning frames it as a refreshing facial cleanser that complements skin regimes. Perceptual and brand pyramid maps compare it to competitors.
Axe uses a targeted marketing strategy focused on young men aged 16-35. It positions itself as a cool, confident brand through provocative advertising campaigns. Axe's promotional mix includes TV, print, and online advertising, as well as sales promotions, interactive games, mobile apps, events, and publicity stunts. The brand's unconventional innovations and adventurous marketing approach have helped it become the leading male deodorant brand in India.
1) Unilever is a multinational consumer goods company operating in over 100 countries. In Bangladesh, Unilever holds a 60.75% share while the government holds 39.25%.
2) Unilever's popular brand LUX segments the market according to socioeconomic factors and targets urban and sub-urban upper middle and middle class consumers.
3) LUX uses marketing tactics like product variations, competitive pricing, and large-scale distribution and promotions to maintain its market leadership position in Bangladesh's beauty soap industry.
Sunsilk Brand audit Power point slides " Project of Strategic brand audit report"
The Islamia University Of Bahawalpur "department of Management Sciencies"
MBA 6th Marketing specialization (2011-2015
Amul - research paper - March 15, 2015Nidhi Sharma
Amul is India's largest dairy cooperative with $2.5 billion in annual turnover. It has achieved this success through a customer-centric marketing strategy that focuses on market research, segmentation, branding, and competitive positioning. Amul communicates its brand values of trust, quality, and Indianness through memorable advertising campaigns featuring the Amul girl. Its low-cost, innovative ads create high reach and build loyalty among customers.
Suresh Kumar, the Regional Marketing Manager of Electrical Equipment Ltd. (EEL) negotiated a deal with Voltas Ltd. to supply 10 flame-proof motors. EEL had already given a 20% discount on the basic price in their initial quotation. In negotiations, Suresh offered an additional 12% discount to secure the order over competitors like Siemens, ABB, and Kirloskar. As part of the deal, EEL also offered a 12-18 month warranty and free after-sales service for the same period.
Pond's aims to gain 35% market share in facial care products in India by 2020. Currently it has a 10.13% market share. Face washes constitute the largest segment within personal care with Pond's having an 85% share of the 400 crore rupees face wash market. Market research shows consumers prefer products with good price, freshness, fragrance, cleansing action and lather. Pond's is positioned below competitors on cleansing action. The document outlines strategies to improve Pond's positioning and increase sales.
This document is a presentation about product mix and dimensions given by Noman Khan. It discusses the total range of products offered by an organization as its product mix. A product mix includes product lines, which are groups of closely related products, and individual products within each line. The presentation defines several dimensions of a product mix, including width, length, depth, and consistency. It provides examples of product lines and individual products from Unilever brands like Lux, Sunsilk, Dove, Brooke Bond Supreme, and Surf Excel to illustrate these concepts.
This document provides an analysis for a potential brand extension of Pond's into women's face wash. It summarizes Pond's company evolution and ownership by Unilever. It analyzes the market, competitors, product life cycle, and FCB grid for face wash. A 4P marketing strategy is proposed targeting women ages 18-64, including price points, distribution channels, and promotional campaigns. Brand positioning frames it as a refreshing facial cleanser that complements skin regimes. Perceptual and brand pyramid maps compare it to competitors.
Axe uses a targeted marketing strategy focused on young men aged 16-35. It positions itself as a cool, confident brand through provocative advertising campaigns. Axe's promotional mix includes TV, print, and online advertising, as well as sales promotions, interactive games, mobile apps, events, and publicity stunts. The brand's unconventional innovations and adventurous marketing approach have helped it become the leading male deodorant brand in India.
1) Unilever is a multinational consumer goods company operating in over 100 countries. In Bangladesh, Unilever holds a 60.75% share while the government holds 39.25%.
2) Unilever's popular brand LUX segments the market according to socioeconomic factors and targets urban and sub-urban upper middle and middle class consumers.
3) LUX uses marketing tactics like product variations, competitive pricing, and large-scale distribution and promotions to maintain its market leadership position in Bangladesh's beauty soap industry.
Sunsilk Brand audit Power point slides " Project of Strategic brand audit report"
The Islamia University Of Bahawalpur "department of Management Sciencies"
MBA 6th Marketing specialization (2011-2015
Amul - research paper - March 15, 2015Nidhi Sharma
Amul is India's largest dairy cooperative with $2.5 billion in annual turnover. It has achieved this success through a customer-centric marketing strategy that focuses on market research, segmentation, branding, and competitive positioning. Amul communicates its brand values of trust, quality, and Indianness through memorable advertising campaigns featuring the Amul girl. Its low-cost, innovative ads create high reach and build loyalty among customers.
The document discusses a customer satisfaction survey conducted on Dove Shampoo. It provides background on Dove as the world's leading shampoo manufacturer and distributor. The survey findings show that most customers find Dove refreshing and are influenced by TV ads. While price and quality are both important, customers use Dove for its reasonable price. The conclusion states that demand for shampoo is increasing in Bangladesh and Dove works to provide quality products at reasonable prices to ensure customer satisfaction in this competitive market.
Lux is HUL's beauty soap brand that is positioned as affordable glamour. It has been able to maintain market leadership in the toilet soap category with a 54.3% market share due to strong brand image, reliable quality, and widespread distribution network. Lux soap is purchased regularly by consumers for its association with celebrities and ability to beautify skin at an affordable price point. While it faces competition from internal and external brands, Lux continues to be the most popular bar soap in India due to high demand and emotional connection with consumers who expect it to make their skin beautiful.
Emami Limited is an Indian producer of fast moving consumer goods (FMCG), such as cosmetics, health and baby products. The company is based in Kolkata.
Founded in 1974 by Mr. R S Agarwal and R S Goenka. with a meagre capital of Rs 20,000.
Emami operates in 63 Countries worldwide.
Key Business: 12 Sectors.
Milestones by Company:
Emami has a strong distribution network of 3150 distributors through which its products are available over 4 million + retail outlets across India. The company has footprints in more than 60 countries including GCC, Europe, Africa, CIS countries and the SAARC.
The Company's enviable portfolio of over 300 products based on Ayurvedic formulations include many household brand names such as BoroPlus, Navratna, Fair and Handsome, Zandu balm, Mentho Plus balm and Fast Relief.
In 1978, Acquired Himani Ltd and set up factory in Kolkata
In 1984, Launched Boroplus Antiseptic Cream, under Himani umbrella
In 1989, Launched Navratna Cool Oil, under the Himani name.
In 1999, Launched Sona Chandi Chyawanprash
In 2005, Launched Fair and Handsome, the first fairness cream for men
In 2012, Started production at Bangladesh manufacturing unit
In 2013, Launched BoroPlus Face wash. Signed in Sonakshi Sinha for the endorsement
In 2014, Launched Fair & Handsome- Instant Fairness Face wash & Zandu Balm Ultra Power
In 2016, Acquired “Kesh King” Business at Rs1684 cr.
Global marketing for ayur herbal cosmetics in vietnamSantanu Das
The document provides an overview of Ayur Herbal Cosmetics, an Indian herbal cosmetics company. It discusses the company's history and success, an interview with founder Dilvinder Singh Narang, and a strategic plan to enter the cosmetics market in Vietnam. Some key points:
- Ayur Herbal Cosmetics was started in 1982 with Rs. 5,000 and has grown to Rs. 150 crore in revenue with over 55 herbal cosmetics products.
- The founder, Dilvinder Singh Narang, saw an opportunity in the untapped cosmetics market and wanted to make Indian women beautiful.
- One of Ayur's first successes was
Dabur is India's 4th largest FMCG company with over 100 years of history. It operates in key categories like hair care, oral care, health care, skin care, home care, and foods. Dabur has 3 strategic business units: Family Products Division, Healthcare Products Division, and Ayurvedic Specialties Ltd. The company aims to maximize shareholder value by offering superior quality natural products to improve consumers' lives in personal care, health care, and foods. Dabur has a widespread presence across 50 countries and is a leader in herbal digestives with 90% market share in India.
This document discusses the product mix of Cadbury India. It outlines Cadbury's various product types including Dairy Milk chocolates, Celebrations, Bournville, biscuits, candies, and beverages. It provides details on specific products within these lines and their prices. The document also covers Cadbury's strategies of line stretching to both down and up markets through new product launches. It discusses line filling and ensuring consistency across production, distribution, and end use to provide customers with joy.
Advertorial and Segmentation Targeting Positioning (STP) Analysis of AMULSamiirr Ali
The presentation aims to provide an insight of an analysis to Advertisements of the brand 'AMUL' and understand its Segmentation, Target Market and Positioning.
The document provides a history and overview of Amul, India's largest dairy cooperative. It describes how Amul was founded in 1946 by dairy farmers in Anand, Gujarat to stop exploitation by middlemen. Amul grew from just two village cooperatives with 247 liters of milk into the largest dairy organization in India. It established a direct link between milk producers and consumers by eliminating middlemen and giving farmers control. Amul's cooperative model of farmer ownership and management has helped India become the world's largest milk producer.
Strategies for market expansions by Ruchi soya bean. It is a case study solution in which the company is looking for expanding its market. Through from the case study you can analysis the various problems and challenges which are being faced by the company in Indian market. The presentation includes environmental analysis, competitor analysis, marketing mix, BCG matrix, GE matrix, DPL matrix and use of other major tools which are helpful in designing the strategies for any marketing company.
The document summarizes an AXE deodorant consumer behavior presentation. It discusses:
1) AXE is targeted at young males aged 15-25 and portrays confident, trendy users that boosts ego and confidence.
2) Research found the target age group uses multiple AXE varieties per month and the brand is seen as trendy.
3) AXE is positioned as making users confident and appealing to women through provocative advertising campaigns.
Sebamed operates in the baby care and personal care market in India with products that have a pH of 5.5 to match skin's natural pH. Their products have been included in over 150 scientific studies and are distributed worldwide. However, Sebamed has faced some weaknesses like negative customer reviews of baby care products causing rashes and engagement in an advertising war with rival HUL. Sebamed aims to grow ten times in the next five years by catering to premium customers and gaining awareness through competitive campaigns, but faces threats like increasing negative reviews, attacks from rivals, and affordability issues compared to competitors.
This document provides a market analysis and marketing plan for a new baby care product in India. It identifies key opportunities in the large and growing market for baby products in India. The target market segments are identified as certain high population growth states in India, as well as women ages 15-25 for the primary target and 25-54 as the secondary target, as these demographics represent those most likely to be having their first or second children. The document outlines strategies for market segmentation, product design and packaging, pricing, placement in distribution channels, and promotional activities to launch the new baby care product.
This document provides a marketing presentation on the detergent brand Surf Excel. It discusses Surf Excel's history in India since 1954, its product range targeting different markets, and marketing strategies like promotional advertisements transitioning from rational to emotional appeals. Competitors include Aerial and P&G. Observations note Surf Excel as an experienced player with innovative ads and strong distribution. Suggestions include reducing price and ad expenses while expanding rural penetration.
Dabur Chyawanprash is Dabur's popular Ayurvedic health supplement, originally launched in the Regular variant but now also available in Orange, Mango, and Mixed Fruit flavors. It contains over 40 natural herbs like amla and giloy that are clinically tested to boost immunity, with additional anti-aging benefits from antioxidant properties. Dabur uses competitive pricing with quantity discounts and endorses the product through MS Dhoni to target children and create a new market.
Head & Shoulders is the number one anti-dandruff shampoo brand in the world. When it launched in India in 1997, it fueled growth in the anti-dandruff segment, which now makes up 15% of the total shampoo market. Head & Shoulders targets higher middle class, brand conscious consumers and positions itself as a mild yet effective anti-dandruff product compared to competitors like Clinic All Clear. It has established itself as a strong brand through differentiation, variety of products, effective marketing campaigns, and brand loyalty.
The document discusses the male grooming brand AXE, owned by Unilever. It was launched in India in 1999 and is now the market leader with 25% share. AXE targets young males aged 16-25 and positions itself as a cool, iconic youth brand that solves the problem of body odor. It was initially launched at a high price but now ranges from Rs. 100-150. AXE uses humorous advertising focusing on attraction and seduction. It engages customers through interactive campaigns. While AXE has strong brand fame, creative advertising, and affordable prices, it also faces threats from competitors and risk of being seen solely as a sex appeal brand.
This document provides information about Unilever, Procter & Gamble, and their hair care brands Sun Silk and Head & Shoulders. It discusses the founders and history of Unilever and P&G. For Sun Silk and Head & Shoulders, it outlines their target markets through demographic and lifestyle segmentation, and describes their marketing strategies around product lines, pricing, and promotions. Key differences are noted between the two brands' approaches to capturing market share in Pakistan.
Marketing RESEARCH DESIGN for Zandu Ayurveda’s Social Media PresenceNeha Kumar
1) The document outlines a research design to study the impact and effectiveness of Zandu Ayurveda's social media presence.
2) The objectives are to understand user reactions to Zandu's current social media approach and determine if it has achieved its goals of increasing sales, purchases, and brand understanding.
3) The research will involve exploratory interviews, descriptive surveys, and ethnographic research of 225 users in Mumbai aged 20+ to evaluate Zandu's social media language, posts, and activities.
This document discusses the perfume industry and strategies for marketing the perfume "Feminine". It notes that the global perfume industry is worth $27.5 billion annually. The target market for "Feminine" is women ages 18-30, both single and married, with a high disposable income. Key cities for the perfume industry include Paris, Milan, Tokyo, New York, and emerging markets like India. Promotion strategies include fashion shows, celebrity endorsements, magazines, social media, and loyalty programs. The perfume aims to position itself as romantic, luxurious, and timeless.
Hindustan Unilever Limited (HUL) - Company AnalysisShailendra Singh
Hindustan Unilever Limited (HUL) is India's largest FMCG company. It has a portfolio of brands in home and personal care such as Lux, Lifebuoy, Surf Excel, Fair & Lovely, and Dove. The FMCG sector in India is estimated to reach $103.7 billion by 2020, growing at 16.5% annually. HUL generates over 45% of its revenue from rural India. It has a strong distribution network of over 6.4 million retail outlets across the country. HUL faces competition from other FMCG giants like ITC, P&G, Nestle and Dabur. Its future growth prospects lie in expanding its rural footprint and product portfolio
The document discusses market segmentation and targeting. It describes different ways to segment consumer and business markets, including by geography, demographics, psychographics, and behavior. Effective segmentation requires segments to be measurable, substantial, accessible, differentiable, and actionable. Companies should evaluate market segments based on factors like industry competition, substitutes, supplier and buyer power, and barriers to entry to identify the most attractive targets.
The document discusses a customer satisfaction survey conducted on Dove Shampoo. It provides background on Dove as the world's leading shampoo manufacturer and distributor. The survey findings show that most customers find Dove refreshing and are influenced by TV ads. While price and quality are both important, customers use Dove for its reasonable price. The conclusion states that demand for shampoo is increasing in Bangladesh and Dove works to provide quality products at reasonable prices to ensure customer satisfaction in this competitive market.
Lux is HUL's beauty soap brand that is positioned as affordable glamour. It has been able to maintain market leadership in the toilet soap category with a 54.3% market share due to strong brand image, reliable quality, and widespread distribution network. Lux soap is purchased regularly by consumers for its association with celebrities and ability to beautify skin at an affordable price point. While it faces competition from internal and external brands, Lux continues to be the most popular bar soap in India due to high demand and emotional connection with consumers who expect it to make their skin beautiful.
Emami Limited is an Indian producer of fast moving consumer goods (FMCG), such as cosmetics, health and baby products. The company is based in Kolkata.
Founded in 1974 by Mr. R S Agarwal and R S Goenka. with a meagre capital of Rs 20,000.
Emami operates in 63 Countries worldwide.
Key Business: 12 Sectors.
Milestones by Company:
Emami has a strong distribution network of 3150 distributors through which its products are available over 4 million + retail outlets across India. The company has footprints in more than 60 countries including GCC, Europe, Africa, CIS countries and the SAARC.
The Company's enviable portfolio of over 300 products based on Ayurvedic formulations include many household brand names such as BoroPlus, Navratna, Fair and Handsome, Zandu balm, Mentho Plus balm and Fast Relief.
In 1978, Acquired Himani Ltd and set up factory in Kolkata
In 1984, Launched Boroplus Antiseptic Cream, under Himani umbrella
In 1989, Launched Navratna Cool Oil, under the Himani name.
In 1999, Launched Sona Chandi Chyawanprash
In 2005, Launched Fair and Handsome, the first fairness cream for men
In 2012, Started production at Bangladesh manufacturing unit
In 2013, Launched BoroPlus Face wash. Signed in Sonakshi Sinha for the endorsement
In 2014, Launched Fair & Handsome- Instant Fairness Face wash & Zandu Balm Ultra Power
In 2016, Acquired “Kesh King” Business at Rs1684 cr.
Global marketing for ayur herbal cosmetics in vietnamSantanu Das
The document provides an overview of Ayur Herbal Cosmetics, an Indian herbal cosmetics company. It discusses the company's history and success, an interview with founder Dilvinder Singh Narang, and a strategic plan to enter the cosmetics market in Vietnam. Some key points:
- Ayur Herbal Cosmetics was started in 1982 with Rs. 5,000 and has grown to Rs. 150 crore in revenue with over 55 herbal cosmetics products.
- The founder, Dilvinder Singh Narang, saw an opportunity in the untapped cosmetics market and wanted to make Indian women beautiful.
- One of Ayur's first successes was
Dabur is India's 4th largest FMCG company with over 100 years of history. It operates in key categories like hair care, oral care, health care, skin care, home care, and foods. Dabur has 3 strategic business units: Family Products Division, Healthcare Products Division, and Ayurvedic Specialties Ltd. The company aims to maximize shareholder value by offering superior quality natural products to improve consumers' lives in personal care, health care, and foods. Dabur has a widespread presence across 50 countries and is a leader in herbal digestives with 90% market share in India.
This document discusses the product mix of Cadbury India. It outlines Cadbury's various product types including Dairy Milk chocolates, Celebrations, Bournville, biscuits, candies, and beverages. It provides details on specific products within these lines and their prices. The document also covers Cadbury's strategies of line stretching to both down and up markets through new product launches. It discusses line filling and ensuring consistency across production, distribution, and end use to provide customers with joy.
Advertorial and Segmentation Targeting Positioning (STP) Analysis of AMULSamiirr Ali
The presentation aims to provide an insight of an analysis to Advertisements of the brand 'AMUL' and understand its Segmentation, Target Market and Positioning.
The document provides a history and overview of Amul, India's largest dairy cooperative. It describes how Amul was founded in 1946 by dairy farmers in Anand, Gujarat to stop exploitation by middlemen. Amul grew from just two village cooperatives with 247 liters of milk into the largest dairy organization in India. It established a direct link between milk producers and consumers by eliminating middlemen and giving farmers control. Amul's cooperative model of farmer ownership and management has helped India become the world's largest milk producer.
Strategies for market expansions by Ruchi soya bean. It is a case study solution in which the company is looking for expanding its market. Through from the case study you can analysis the various problems and challenges which are being faced by the company in Indian market. The presentation includes environmental analysis, competitor analysis, marketing mix, BCG matrix, GE matrix, DPL matrix and use of other major tools which are helpful in designing the strategies for any marketing company.
The document summarizes an AXE deodorant consumer behavior presentation. It discusses:
1) AXE is targeted at young males aged 15-25 and portrays confident, trendy users that boosts ego and confidence.
2) Research found the target age group uses multiple AXE varieties per month and the brand is seen as trendy.
3) AXE is positioned as making users confident and appealing to women through provocative advertising campaigns.
Sebamed operates in the baby care and personal care market in India with products that have a pH of 5.5 to match skin's natural pH. Their products have been included in over 150 scientific studies and are distributed worldwide. However, Sebamed has faced some weaknesses like negative customer reviews of baby care products causing rashes and engagement in an advertising war with rival HUL. Sebamed aims to grow ten times in the next five years by catering to premium customers and gaining awareness through competitive campaigns, but faces threats like increasing negative reviews, attacks from rivals, and affordability issues compared to competitors.
This document provides a market analysis and marketing plan for a new baby care product in India. It identifies key opportunities in the large and growing market for baby products in India. The target market segments are identified as certain high population growth states in India, as well as women ages 15-25 for the primary target and 25-54 as the secondary target, as these demographics represent those most likely to be having their first or second children. The document outlines strategies for market segmentation, product design and packaging, pricing, placement in distribution channels, and promotional activities to launch the new baby care product.
This document provides a marketing presentation on the detergent brand Surf Excel. It discusses Surf Excel's history in India since 1954, its product range targeting different markets, and marketing strategies like promotional advertisements transitioning from rational to emotional appeals. Competitors include Aerial and P&G. Observations note Surf Excel as an experienced player with innovative ads and strong distribution. Suggestions include reducing price and ad expenses while expanding rural penetration.
Dabur Chyawanprash is Dabur's popular Ayurvedic health supplement, originally launched in the Regular variant but now also available in Orange, Mango, and Mixed Fruit flavors. It contains over 40 natural herbs like amla and giloy that are clinically tested to boost immunity, with additional anti-aging benefits from antioxidant properties. Dabur uses competitive pricing with quantity discounts and endorses the product through MS Dhoni to target children and create a new market.
Head & Shoulders is the number one anti-dandruff shampoo brand in the world. When it launched in India in 1997, it fueled growth in the anti-dandruff segment, which now makes up 15% of the total shampoo market. Head & Shoulders targets higher middle class, brand conscious consumers and positions itself as a mild yet effective anti-dandruff product compared to competitors like Clinic All Clear. It has established itself as a strong brand through differentiation, variety of products, effective marketing campaigns, and brand loyalty.
The document discusses the male grooming brand AXE, owned by Unilever. It was launched in India in 1999 and is now the market leader with 25% share. AXE targets young males aged 16-25 and positions itself as a cool, iconic youth brand that solves the problem of body odor. It was initially launched at a high price but now ranges from Rs. 100-150. AXE uses humorous advertising focusing on attraction and seduction. It engages customers through interactive campaigns. While AXE has strong brand fame, creative advertising, and affordable prices, it also faces threats from competitors and risk of being seen solely as a sex appeal brand.
This document provides information about Unilever, Procter & Gamble, and their hair care brands Sun Silk and Head & Shoulders. It discusses the founders and history of Unilever and P&G. For Sun Silk and Head & Shoulders, it outlines their target markets through demographic and lifestyle segmentation, and describes their marketing strategies around product lines, pricing, and promotions. Key differences are noted between the two brands' approaches to capturing market share in Pakistan.
Marketing RESEARCH DESIGN for Zandu Ayurveda’s Social Media PresenceNeha Kumar
1) The document outlines a research design to study the impact and effectiveness of Zandu Ayurveda's social media presence.
2) The objectives are to understand user reactions to Zandu's current social media approach and determine if it has achieved its goals of increasing sales, purchases, and brand understanding.
3) The research will involve exploratory interviews, descriptive surveys, and ethnographic research of 225 users in Mumbai aged 20+ to evaluate Zandu's social media language, posts, and activities.
This document discusses the perfume industry and strategies for marketing the perfume "Feminine". It notes that the global perfume industry is worth $27.5 billion annually. The target market for "Feminine" is women ages 18-30, both single and married, with a high disposable income. Key cities for the perfume industry include Paris, Milan, Tokyo, New York, and emerging markets like India. Promotion strategies include fashion shows, celebrity endorsements, magazines, social media, and loyalty programs. The perfume aims to position itself as romantic, luxurious, and timeless.
Hindustan Unilever Limited (HUL) - Company AnalysisShailendra Singh
Hindustan Unilever Limited (HUL) is India's largest FMCG company. It has a portfolio of brands in home and personal care such as Lux, Lifebuoy, Surf Excel, Fair & Lovely, and Dove. The FMCG sector in India is estimated to reach $103.7 billion by 2020, growing at 16.5% annually. HUL generates over 45% of its revenue from rural India. It has a strong distribution network of over 6.4 million retail outlets across the country. HUL faces competition from other FMCG giants like ITC, P&G, Nestle and Dabur. Its future growth prospects lie in expanding its rural footprint and product portfolio
The document discusses market segmentation and targeting. It describes different ways to segment consumer and business markets, including by geography, demographics, psychographics, and behavior. Effective segmentation requires segments to be measurable, substantial, accessible, differentiable, and actionable. Companies should evaluate market segments based on factors like industry competition, substitutes, supplier and buyer power, and barriers to entry to identify the most attractive targets.
This document discusses market segmentation and targeting. It defines market segments as groups of customers who share similar needs and wants. There are four main types of market segmentation: geographic, demographic, psychographic, and behavioral. Demographic variables include age, gender, income, etc. Psychographic segmentation groups customers based on personality traits and values. Behavioral segmentation divides customers based on usage patterns and brand loyalty. The document also discusses criteria for evaluating market segments and different targeting strategies like full market coverage, multiple segment specialization, and single segment concentration.
1. There are four levels at which markets can be targeted: segments, niches, local areas, and individuals. Segments are large, identifiable groups, while niches are more narrowly defined groups seeking distinctive benefits.
2. Demographic segmentation divides the market into groups based on variables like age, family size, and social class, which define a person's major concerns.
3. Of the options given, "groups" is not an accurate term to describe target markets, as the document defined the four levels of targeting as segments, niches, local areas, and individuals.
The document discusses key concepts around market segmentation including:
1) It describes market segmentation as the process of dividing a market into meaningful subgroups that have similar needs and will respond similarly to marketing strategies.
2) Several common bases for segmenting consumer and business markets are discussed, including demographics, benefits sought, usage rates, and company characteristics.
3) The steps involved in segmenting markets are outlined, including selecting markets, choosing segmentation bases, profiling segments, and selecting target markets.
4) Alternative strategies for targeting market segments like concentrated, undifferentiated, and multisegment strategies are described.
The document discusses market segmentation, targeting, and positioning. It outlines the steps as market segmentation, target marketing, and market positioning. It then describes the four levels of market segmentation - segment marketing, niche marketing, local marketing, and individual marketing. The major segmentation variables are identified as geographic, demographic, psychographic, and behavioral. Effective criteria for segmentation are that the segments must be measurable, substantial, accessible, differentiable, and actionable.
Market segmentation involves dividing a market into distinct groups of customers with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes. The key benefits of market segmentation are that it allows companies to identify new product opportunities, design effective marketing programs for individual customer groups, and improve resource allocation. Common bases for segmenting consumer markets include geography, demographics, psychographics, and consumer behaviors. Geographic segmentation can divide markets by region, area size, population density, or climate. Demographic segmentation considers variables like age, gender, income, social class, and lifestyle. Psychographic segmentation groups according to lifestyle and activities, interests, and opinions. Behavioral segmentation is based on behaviors like opinions, loyalty, occasions, benefits sought,
Market segmentation involves dividing a market into distinct groups of customers with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes. The key benefits are identifying new product opportunities, designing effective marketing programs for homogeneous groups, and improving resource allocation. Segments must be identifiable, accessible, responsive to different offers, large enough to target, and stable over time. Common bases for segmentation include geographic, demographic, psychographic, and behavioral factors such as age, gender, income, lifestyle, customer behavior, and usage occasions.
Market segmentation involves dividing a market into distinct groups of customers with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes. The key benefits are identifying new product opportunities, designing effective marketing programs for homogeneous groups, and improving resource allocation. Segments must be identifiable, accessible, responsive to different offers, large enough to target, and stable over time. Common bases for segmentation include geographic, demographic, psychographic, and behavioral factors such as age, gender, income, lifestyle, customer behavior, and usage occasions.
This document summarizes chapter 7 of the marketing management textbook by Kotler and Keller. The chapter discusses identifying market segments and targets. It covers the different bases for segmenting consumers and business markets, such as geographic, demographic, psychographic and behavioral factors. It also outlines the requirements for effective segmentation and target marketing, and how companies should evaluate segments and select target markets.
This document contains 10 learning questions about market segmentation from Chapter 8. It discusses the four levels of micromarketing - segments, niches, local areas, and individuals. Question 1 asks about niches, which are more narrowly defined customer groups. Question 2 asks about life stage defining a person's major concern in demographic segmentation. Question 3 asks about the exception to target markets. Question 4 asks about the criteria market segments must be, with the exception being flexible. Question 5 asks about a false statement in demographic segmentation. Question 6 asks about the exception in criteria for useful market segments. Question 7 asks about Manila Beer's local area marketing strategy. Question 8 asks about life stage segmentation in RunRio's marketing. Question 9 asks
This document contains 10 learning questions about market segmentation from Chapter 8. It discusses the four levels of micromarketing - segments, niches, local areas, and individuals. Question 1 asks about niches, which are more narrowly defined customer groups. Question 2 asks about life stage defining a person's major concern in demographic segmentation. Question 3 asks about the exception to target markets. Question 4 asks about the criteria market segments must be, with the exception being flexible. Question 5 asks about a false statement in demographic segmentation. Question 6 asks about the exception for criteria for useful market segments. Question 7 asks about Manila Beer's local area marketing strategy. Question 8 asks about life stage segmentation in RunRio's marketing. Question 9 asks
The document discusses market segmentation and summarizes key points from the literature. It begins by defining market segmentation as dividing a large market into smaller subgroups based on common needs and behaviors. It then reviews several common bases for segmentation, including geographic, demographic, psychographic, and behavioral factors. Some examples discussed include segmenting by age, gender, income level, lifestyle, and occasions. The document also outlines criteria for effective market segments and reviews literature on the importance and competitive necessity of segmentation. It concludes by describing the sources of data gathered - official Indian census data and projected population data from a marketing textbook.
This document outlines the key objectives and content covered in several marketing chapters. Specifically, it discusses:
- The environmental forces that influence marketing decisions, including demographic, economic, natural, technological, political, and cultural factors.
- The factors that influence consumer and business buying behavior, including cultural, social, personal, psychological factors for consumers and organizational factors for businesses.
- The stages in the consumer and business buying decision process.
- How marketing research is used to define problems, develop research plans, implement data collection, and interpret findings.
- The social criticisms of marketing and the importance of ethics and social responsibility.
- How information systems support marketing by providing important customer, competitor, and
This document discusses market segmentation and targeting attractive market segments. It begins by defining a market as a group of potential customers and a market segment as a subgroup within the market that shares similar characteristics. The document notes that market segmentation is important because not all customers have the same needs. It lists benefits of segmentation such as identifying new product opportunities and improving marketing efficiency. Drawbacks include missing customers that don't fit segments. Common ways to define segments include demographics, geography, and customer behaviors. The document provides several examples of segmenting consumer and business markets. It concludes with discussing tools like a segment rating chart and market attractiveness/competitive position matrix to evaluate segments and determine which to target.
This document discusses market segmentation and strategies for targeting customer groups. It defines market segmentation as "grouping customers according to similar characteristics needs and wants". It provides criteria for segmenting customers such as geographic, demographic, psychographic, and behavioral factors. The document also discusses how segmentation allows companies to better adjust products, focus resources, and identify market opportunities. Globalization can lead to standardized segments that can be targeted with a global strategy.
Market segmentation involves dividing a market into subgroups of customers with distinct needs and priorities. There are 4 main levels of market segmentation: segment marketing, niche marketing, local marketing, and individual marketing. Effective segmentation criteria include segments being measurable, substantial, accessible, differentiable, and actionable. Companies must evaluate segment attractiveness and their own objectives/resources when selecting target segments.
This document discusses consumer behavior and motivation. It defines key terms like consumer, customer, and gatekeeper. It explains that consumer demand is driven by needs and wants. Consumer demand changes due to economic, market, and product factors. Products have a life cycle with stages like introduction, growth, maturity, and decline. Marketers analyze consumer profiles using demographics like age, gender, and psychographics like beliefs to understand motivations. Theories like Maslow's hierarchy of needs are discussed to explain what motivates consumer purchases.
Market segmentation involves dividing a potential market into distinct subsets of consumers with common needs or characteristics. It allows companies to target specific segments with tailored marketing mixes. Before segmentation, companies used mass marketing by offering the same product to all consumers. Segmentation bases include geographic, demographic, psychographic, behavioral, and other factors. Effective segmentation requires segments to be measurable, accessible, substantial, and stable over time. Companies analyze segments to identify the most attractive targets for their products.
The document is a student assignment cover page for a marketing course. It provides details about the student such as their name, registration number, learning center, course, semester, subject, assignment set number, and date of submission. It also includes signatures from the learning center coordinator, evaluator, and directorate. The second part of the document contains an assignment question about explaining VALS theory and describing each type of consumer identified in the framework.
This document discusses creating long-term loyalty relationships with customers. It defines key concepts like customer value, satisfaction, loyalty, lifetime value and customer relationship management. It also provides examples of companies that have successfully built loyalty, like Harrah's and Dell, and discusses how to measure satisfaction, maximize customer lifetime value, attract and retain customers through various strategies like loyalty programs and database marketing.
The document discusses factors that influence consumer behavior, including cultural, social, and personal factors. It explains key psychological processes such as motivation, perception, learning, emotions, and memory that shape consumer responses. The document also outlines the typical consumer decision-making process, from problem recognition to post-purchase evaluation. It notes that consumers do not always follow rational, deliberate decision making and may use mental shortcuts or be influenced by framing effects.
The document discusses branding and brand equity. It covers key topics such as:
- The definition of a brand and how brands create value for companies and consumers.
- What brand equity is and how it is built through strong brand knowledge, preferences, and loyalty over time.
- The four main steps in strategic brand management: positioning, marketing, measuring performance, and sustaining value.
- Models for measuring brand equity such as brand value, awareness, and emotional connections to the brand.
- How brands are managed through reinforcement, revitalization, and architecture strategies to maintain and grow their value.
Marketing is defined as creating value for customers and managing customer relationships. It involves understanding customer needs and delivering products and services to satisfy those needs. Marketing management has evolved from a focus on production and selling to a more customer-centric approach of building relationships and delivering value and satisfaction. Successful marketing management requires developing strategies and plans, understanding customers, building brands, shaping offerings, communicating value, and creating long-term growth.
The document discusses developing marketing strategies and plans. It covers several key topics:
1. The value chain and core business processes that firms use to design, produce, market and deliver products to customers.
2. Characteristics of strategic planning at different organizational levels, from corporate headquarters to business units. Strategic plans involve tools like SWOT analysis, market opportunity analysis, and goal formulation.
3. The typical contents of a marketing plan, including an executive summary, situation analysis, marketing strategy, financial projections, and implementation controls. Evaluating whether a plan is simple, specific, realistic and complete.
This document discusses collecting marketing information and forecasting demand. It describes the components of a marketing information system, including internal records, marketing intelligence systems, and assessing information needs. It also discusses analyzing the macroenvironment, including demographic, economic, technological, political, cultural, and natural factors. The document concludes by covering methods for measuring current demand, such as estimating total market potential, and estimating future demand through various forecasting techniques.
This document discusses marketing research and its process. It defines marketing research as the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation. The marketing research process involves defining the problem, developing a research plan, collecting information, analyzing the information and presenting findings. Various research approaches, instruments, sampling plans and contact methods are discussed.
Build marketing products across the customer journey to grow your business and build a relationship with your customer. For example you can build graders, calculators, quizzes, recommendations, chatbots or AR apps. Things like Hubspot's free marketing grader, Moz's site analyzer, VenturePact's mobile app cost calculator, new york times's dialect quiz, Ikea's AR app, L'Oreal's AR app and Nike's fitness apps. All of these examples are free tools that help drive engagement with your brand, build an audience and generate leads for your core business by adding value to a customer during a micro-moment.
Key Takeaways:
Learn how to use specific GPTs to help you Learn how to build your own marketing tools
Generate marketing ideas for your business How to think through and use AI in marketing
How AI changes the marketing game
From Subreddits To Search: Maximizing Your Brand's Impact On RedditSearch Engine Journal
The search landscape is undergoing a seismic shift, and Reddit is at the epicenter. Google's Helpful Content Update and its $60 million deal with Reddit, coupled with OpenAI's partnership, have catapulted Reddit's real-time content to unprecedented heights.
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Don't miss this opportunity to stay ahead of the curve and leverage Reddit for your brand's success.
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Efficient Website Management for Digital Marketing ProsLauren Polinsky
Learn how to optimize website projects, leverage SEO tactics effectively, and implement product-led marketing approaches for enhanced digital presence and ROI.
This session is your key to unlocking the secrets of successful digital marketing campaigns and maximizing your business's online potential.
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Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdf1Solutions Pvt. Ltd.
As we move into 2024, the methods for building high-quality backlinks continue to evolve, demanding more sophisticated and strategic approaches. This presentation aims to explore the latest trends and proven strategies for acquiring high-quality backlinks that can elevate your SEO efforts.
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Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Evaluating the Effectiveness of Women-Focused MarketingHighViz PR
Women centric marketing is a vital part in reaching one of the most influential groups of consumers. Here is a guide to know and measure the impact of women-centric marketing efforts-
Breaking Silos To Break Bank: Shattering The Divide Between Search And SocialNavah Hopkins
At Mozcon 2024 I shared this deck on bridging the divide between search and social. We began by acknowledging that search-first marketers are used to different rules of engagement than social marketers. We also looked at how both channels treat creative, audiences, bidding/budgeting, and AI. We finished by going through how they can win together including UTM audits, harvesting comments from both to inform creative, and allowing for non-login forums to be part of your marketing strategy.
I themed this deck using Baldur's Gate 3 characters: Gale as Search and Astarion as Social
In the face of the news of Google beginning to remove cookies from Chrome (30m users at the time of writing), there’s no longer time for marketers to throw their hands up and say “I didn’t know” or “They won’t go through with it”. Reality check - it has already begun - the time to take action is now. The good news is that there are solutions available and ready for adoption… but for many the race to catch up to the modern internet risks being a messy, confusing scramble to get back to "normal"
Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
The Future of ''Digital marketing'' .pptxbhavanasizcom
Digital marketing leverages digital channels such as SEO, content marketing, social media, PPC, and email to promote products or services. It includes affiliate and influencer marketing, mobile strategies, and online PR. Marketing automation helps streamline efforts, while analytics guide data-driven decisions. The objective is to engage target audiences, drive conversions, and build brand loyalty by reaching customers in the digital spaces they frequent.The future of digital marketing will be driven by advancements in artificial intelligence (AI) for personalized content and customer service, and the rise of voice search optimization due to smart speakers. Video content, especially short-form videos, will continue to dominate, while augmented reality (AR) and virtual reality (VR) will enhance customer experiences. Emphasis on data privacy and compliance will grow, alongside the need for seamless omnichannel marketing. Blockchain technology will offer secure digital advertising, and sustainability will become a key focus. With the advent of 5G technology, faster mobile internet will enable new innovations, and advanced personalization will deliver highly relevant content to users.
The Strategic Impact of Storytelling in the Age of AI
In the grand tapestry of marketing, where algorithms analyze data and artificial intelligence predicts trends, one essential thread remains constant — the timeless art of storytelling. As we stand on the precipice of a new era driven by AI, join me in unraveling the narrative alchemy that transforms brands from mere entities into captivating tales that resonate across the digital landscape. In this exploration, we will discover how, in the face of advancing technology, the human touch of a well-crafted story becomes not just a marketing tool but the very essence that breathes life into brands and forges lasting connections with our audience.
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Amsive
Lily Ray, Vice President of SEO Strategy & Research at Amsive, explores optimizing strategies for sustainable growth and explores the impact of AI on the SEO landscape.
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12. Table 8.3 Profiling U.S. Generation Cohorts
Generation
Cohort
Birth
Range
Defining Features
Gen Y
78 million
1979~1994 Raised with relative affluence,
technologically plugged in and
concerned with the environment and
social issues, independence, and
immunity from marketing
Gen X
50 million
1964~1978 Bridge the technological savvy of
Gen Y with the adult realities of the
baby boomers
Baby
Boomers 76
million
1946~1964 Embrace products and lifestyles that
allow them to turn back the hands of
time
Silent
Generation
42 million
1925~1945 Defying their advancing age, they
maintain active lives and products
and marketing that help them to
achieve that
14.
Psychographic is the science of using
psychology and demographics to better
understand consumers
PS: Buyers are divided into different groups on
the basis of psychological/personality traits,
lifestyle, or values
People in the same demographic group can
exhibit very different psychographic profiles
VALS framework: signifying values and
lifestyles based on a questionnaire featuring 4
demographic and 35 attitudinal questions
Psychographic Segmentation
16.
Horizontal dimension: Consumer motivation
1. Ideals are guided by knowledge and
principles
2. Achievement looks for products and
services that demonstrate success to their
peers
3. Self-expression desires social or physical
activity, variety, and risk
Vertical dimension: Consumer resources
different levels of resources enhance or
constrain a person’s expression of his or her
primary motivation
Psychographic Segmentation
17. The four groups with higher resources are:
1. Innovators: Successful, sophisticated, active, “ take
charge” people with high self-esteem. Purchases
often reflect cultivated tastes for relatively upscale,
niche-oriented products and services
2. Thinkers: Mature, satisfied, and reflective people
motivated by ideals and who value order, knowledge,
and responsibilities. They seek durability,
functionality, and value in products
3. Achievers: Successful, goal-oriented people who
focus on career and family. They favor premium
products that demonstrate success to their peers
4. Experiencers: Young, enthusiastic, impulsive people
who seek variety and excitement. They spend a
comparatively high proportion of income on fashion,
entertainment, and socializing
VALS Framework
18. The four groups with lower resources are:
1. Believers: conservative, conventional, and traditional
people with concrete beliefs. They prefer familiar,
U.S.-made products and are loyal to established
brands
2. Strivers: Trendy and fun-loving people who are
resource-constrained. They favor stylish products
that emulate the purchases of those with greater
material wealth
3. Makers: Practical, down-to-earth, self-sufficient
people who like to work with their hands. They seek
U.S.-made products with a practical or functional
purpose
4. Survivors: Elderly, passive people concerned about
change and loyal to their favorable brands
VALS Framework
Companies cannot connect with all customers in large, broad, or diverse markets. But they can divide such markets into groups of consumers or segments with distinct needs and wants. A company then needs to identify which market segments it can serve effectively. This decision requires a keen understanding of consumer behavior and careful strategic thinking. To develop the best marketing plans, managers need to understand what makes each segment unique and different. Identifying and satisfying the right market segments is often the key to marketing success.
Companies cannot connect with all customers in large, broad, or diverse markets. But they can divide such markets into groups of consumers or segments with distinct needs and wants. A company then needs to identify which market segments it can serve effectively. This decision requires a keen understanding of consumer behavior and careful strategic thinking. To develop the best marketing plans, managers need to understand what makes each segment unique and different. Identifying and satisfying the right market segments is often the key to marketing success.
Market segmentation divides a market into well-defined slices. A market segment consists of a group of customers who share a similar set of needs and wants. The marketer’s task is to identify the appropriate number and nature of market segments and decide which one(s) to target. We use two broad groups of variables to segment consumer markets. Some researchers try to define segments by looking at descriptive characteristics: geographic, demographic, and psychographic. Then they examine whether these customer segments exhibit different needs or product responses. For example, they might examine the differing attitudes of “professionals,”“blue collars,” and other groups toward, say, “safety” as a car benefit. Other researchers try to define segments by looking at behavioral considerations, such as consumer responses to benefits, usage occasions, or brands.
The major segmentation variables—geographic, demographic, psychographic, and behavioral segmentation—are summarized in Table 8.1.
Geographic segmentation divides the market into geographical units such as nations, states, regions, counties, cities, or neighborhoods. The company can operate in one or a few areas, or it can operate in all but pay attention to local variations. In that way it can tailor marketing programs to the needs and wants of local customer groups in trading areas, neighborhoods, even individual stores.
Some approaches combine geographic data with demographic data to yield even richer descriptions of consumers and neighborhoods. Nielsen Claritas has developed a geoclustering approach called PRIZM (Potential Rating Index by Zip Markets) that classifies over half a million U.S. residential neighborhoods into 14 distinct groups and 66 distinct lifestyle segments called PRIZM Clusters. The groupings take into consideration 39 factors in five broad categories: (1) education and affluence, (2) family life cycle, (3) urbanization, (4) race and ethnicity, and (5) mobility. The neighborhoods are broken down by zip code, zip+4, or census tract and block group. The clusters have descriptive titles such as Blue Blood Estates, Winner’s Circle, Hometown Retired, Shotguns and Pickups, and Back Country Folks. The inhabitants in a cluster tend to lead similar lives, drive similar cars, have similar jobs, and read similar magazines. Table 8.2 has examples of four PRIZM clusters.
In demographic segmentation, we divide the market on variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class. One reason demographic variables are so popular with marketers is that they’re often associated with consumer needs and wants. Another is that they’re easy to measure. Even when we describe the target market in nondemographic terms (say, by personality type), we may need the link back to demographic characteristics in order to estimate the size of the market and the media we should use to reach it efficiently.
Consumer wants and abilities change with age. People in the same part of the life cycle may still differ in their life stage. Life stage defines a person’s major concern, such as going through a divorce, going into a second marriage, taking care of an older parent, deciding to cohabit with another person, deciding to buy a new home, and so on. These life stages present opportunities for marketers who can help people cope with their major concerns
Men and women have different attitudes and behave differently, based partly on genetic makeup and partly on socialization. Women tend to be more communal-minded and men more self-expressive and goal-directed; women tend to take in more of the data in their immediate environment and men to focus on the part of the environment that helps them achieve a goal. A research study examining how men and women shop found that men often need to be invited to touch a product, whereas women are likely to pick it up without prompting. Men often like to read product information; women may relate to a product on a more personal level.
Victoria’s Secret studied women and learned that while women need underwear, they want lingerie. It went on to develop the retail chain very successfully based on this insight.
Income segmentation is a long-standing practice in such categories as automobiles, clothing, cosmetics, financial services, and travel. However, income does not always predict the best customers for a given product. Blue-collar workers were among the first purchasers of color television sets; it was cheaper for them to buy these sets than to go to movies and restaurants.
Each generation or cohort is profoundly influenced by the times in which it grows up—the music, movies, politics, and defining events of that period. Members share the same major cultural, political, and economic experiences and have similar outlooks and values. Marketers often advertise to a cohort by using the icons and images prominent in its experiences.
Millennials are also known as the Echo Boomers, these consumers have been “wired” almost from birth— playing computer games, navigating the Web, downloading music, connecting with friends via instant messaging and mobile phones. They have a sense of entitlement and abundance from growing up during the economic boom and being pampered by their boomer parents. Yet they are highly socially conscious and concerned about environmental issues. They are selective, confident, and impatient.
Gen Xers feel self-sufficiency and the ability to handle any circumstance are key. Technology is an enabler for them, not a barrier. Unlike the more optimistic, team oriented Gen Yers, Gen Xers are more pragmatic and individualistic.
With many baby boomers moving into their 60s and even the last and youngest wave bearing down on 50, demand has exploded for products to turn back the hands of time. According to one survey, nearly one in five boomers was actively resisting the aging process, driven by the mantra, “Fifty is the new thirty.”
Multicultural marketing is an approach recognizing that different ethnic and cultural segments have sufficiently different needs and wants to require targeted marketing activities, and that a mass market approach is not refined enough for the diversity of the marketplace. The Hispanic American, African American, and Asian American markets are all growing at two to three times the rate of nonmulticultural populations, with numerous submarkets, and their buying power is expanding. Multicultural markets also vary in whether they are first and second (or more) generation, and whether they are immigrants or born and raised in the United States. The norms, language nuances, buying habits, and business practices of multicultural markets need to be factored into the initial formulation of a marketing strategy, rather than added as an afterthought.
State Farm decided to make its Hispanic American marketing a priority in 2008. The firm sponsored local Latino community events, soccer matches, the Latin Music Awards, and Univision’s highly rated Saturday night variety show, Sabádo Gigante. Perhaps State Farm’s most original marketing activity, however, was the support and sponsorship of a new band. Los Felinos de la Noche (The Felines of the Night), as the six men (primarily Hispanic immigrants) are called, play the percussion heavy pop-rock sound of Norteño or Northern Mexico regional music. With State Farm’s support, the band recorded singles, shot music videos, and played live concerts to make a name for themselves.
Psychographics is the science of using psychology and demographics to better understand consumers. In psychographic segmentation, buyers are divided into different groups on the basis of psychological/personality traits, lifestyle, or values. People within the same demographic group can exhibit very different psychographic profiles. One of the most popular commercially available classification systems based on psychographic measurements is Strategic Business Insight’s (SBI) VALS™ framework. VALS, signifying values and lifestyles, classifies U.S. adults into eight primary groups
1. Innovators—Successful, sophisticated, active, “take-charge” people with high self-esteem.
2. Thinkers—Mature, satisfied, and reflective people motivated by ideals and who value order, knowledge, and responsibility. They seek durability, functionality, and value in products.
3. Achievers—Successful, goal-oriented people who focus on career and family. They favor premium products that demonstrate success to their peers.
4. Experiencers—Young, enthusiastic, impulsive people who seek variety and excitement. They spend a comparatively high proportion of income on fashion, entertainment, and socializing.
5. Believers—Conservative, conventional, and traditional people with concrete beliefs. They prefer familiar, U.S.-made products and are loyal to established brands.
6. Strivers—Trendy and fun-loving people who are resource-constrained. They favor stylish products that emulate the purchases of those with greater material wealth.
7. Makers—Practical, down-to-earth, self-sufficient people who like to work with their hands. They seek U.S.-made products with a practical or functional purpose.
8. Survivors—Elderly, passive people concerned about change and loyal to their favorite brands
Needs-based or benefit-based segmentation is a widely used approach because it identifies distinct market segments with clear marketing implications. Constellation Wines identified six different benefit segments in the U.S. premium wine market ($5.50 a bottle and up).
• Enthusiast (12 percent of the market). Skewing female, their average income is about $76,000 a year. About 3 percent are “luxury enthusiasts” who skew more male with a higher income.
• Image Seekers (20 percent). The only segment that skews male, with an average age of 35. They use wine basically as a badge to say who they are, and they’re willing to pay more to make sure they’re getting the right bottle.
• Savvy Shoppers (15 percent). They love to shop and believe they don’t have to spend a lot to get a good bottle of wine. Happy to use the bargain bin.
• Traditionalist (16 percent). With very traditional values, they like to buy brands they’ve heard of and from wineries that have been around a long time. Their average age is 50 and they are 68 percent female.
• Satisfied Sippers (14 percent). Not knowing much about wine, they tend to buy the same brands. About half of what they drink is white zinfandel.
• Overwhelmed (23 percent). A potentially attractive target market, they find purchasing wine confusing.
People play five roles in a buying decision: Initiator, Influencer, Decider, Buyer, and User. For example, assume a wife initiates a purchase by requesting a new treadmill for her birthday. The husband may then seek information from many sources, including his best friend who has a treadmill and is a key influencer in what models to consider. After presenting the alternative choices to his wife, he purchases her preferred model, which ends up being used by the entire family.
Many marketers believe variables related to various aspects of users or their are good starting points for constructing market segments. Occasions mark a time of day, week, month, year, or other well-defined temporal aspects of a consumer’s life. We can distinguish buyers according to the occasions when they develop a need, purchase a product, or use a product. Every product has its nonusers, ex-users, potential users, first-time users, and regular users. We can segment markets into light, medium, and heavy product users. Heavy users are often a small slice but account for a high percentage of total consumption. Some people are unaware of the product, some are aware, some are informed, some are interested, some desire the product, and some intend to buy. Marketers usually envision four groups based on brand loyalty status. Five consumer attitudes about products are: enthusiastic, positive, indifferent, negative, and hostile.
To help characterize how many people are at different stages and how well they have converted people from one stage to another, marketers can employ a marketing funnel to break down the market into different buyer-readiness stages. The proportions of consumers at different stages make a big difference in designing the marketing program.
Loyalty Status Marketers usually envision four groups based on brand loyalty status:
1. Hard-core loyals—Consumers who buy only one brand all the time
2. Split loyals—Consumers who are loyal to two or three brands
3. Shifting loyals—Consumers who shift loyalty from one brand to another
4. Switchers—Consumers who show no loyalty to any brand
A company can learn a great deal by analyzing degrees of brand loyalty: Hard-core loyals can help identify the products’ strengths; split loyals can show the firm which brands are most competitive with its own; and by looking at customers dropping its brand, the company can learn about its marketing weaknesses and attempt to correct them. One caution: What appear to be brand-loyal purchase patterns may reflect habit, indifference, a low price, a high switching cost, or the unavailability of other brands.
People tend to be loyal to their favorite soda brand but less so to airline brands.
Combining different behavioral bases can provide a more comprehensive and cohesive view of a market and its segments. Figure 8.3 depicts one possible way to break down a target market by various behavioral segmentation bases.
We can segment business markets with some of the same variables we use in consumer markets, such as geography, benefits sought, and usage rate, but business marketers also use other variables. Table 8.5 shows one set of these. The demographic variables are the most important, followed by the operating variables—down to the personal characteristics of the buyer. The table lists major questions that business marketers should ask in determining which segments and customers to serve.
To be useful, market segments must rate favorably on five key criteria:
The size, purchasing power, and characteristics of the segments can be measured.
The segments are large and profitable enough to serve. A segment should be the largest possible homogeneous group worth going after with a tailored marketing program.
The segments can be effectively reached and served.
The segments are conceptually distinguishable and respond differently to different marketing-mix elements and programs. If married and unmarried women respond similarly to a sale on perfume, they do not constitute separate segments.
Effective programs can be formulated for attracting and serving the segments.
There are many statistical techniques for developing market segments.53 Once the firm has identified its market-segment opportunities, it must decide how many and which ones to target. Marketers are increasingly combining several variables in an effort to identify smaller, better-defined target groups. Thus, a bank may not only identify a group of wealthy retired adults but within that group distinguish several segments depending on current income, assets, savings, and risk preferences. This has led some market researchers to advocate a needs-based market segmentation approach, as introduced previously. Roger Best proposed the seven-step approach shown in Table 8.6.
Five forces determine the intrinsic long-run attractiveness of a market or market segment: industry competitors, potential entrants, substitutes, buyers, and suppliers. The threats these forces pose are as follows:
1. Threat of intense segment rivalry—A segment is unattractive if it already contains numerous, strong, or aggressive competitors.
2. Threat of new entrants—The most attractive segment is one in which entry barriers are high and exit barriers are low.
3. Threat of substitute products—A segment is unattractive when there are actual or potential substitutes for the product.
4. Threat of buyers’ growing bargaining power—A segment is unattractive if buyers possess strong or growing bargaining power.
5. Threat of suppliers’ growing bargaining power—A segment is unattractive if the company’s suppliers are able to raise prices or reduce quantity supplied.
Marketers have a range or continuum of possible levels of segmentation that can guide their target market decisions. As Figure 8.4 shows, at one end is a mass market of essentially one segment; at the other are individuals or segments of one person. Between lie multiple segments and single segments. We describe each of the four approaches next. With full market coverage, a firm attempts to serve all customer groups with all the products they might need. With selective specialization, a firm selects a subset of all the possible segments, each objectively attractive and appropriate. With single-segment concentration, the firm markets to only one particular segment. The ultimate level of segmentation leads to “segments of one,” “customized marketing,” or “one-to-one marketing.
In this chapter we have reviewed answers to these questions.