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Market Segmentation
What is Market Segmentation?
The marketing concept calls for understanding
customer and satisfying there needs better than the
competition.
Different customers have different needs, and its
rarely possible to satisfy all the customers by
treating them alike.
Indefinable: the differentiating attributes of the
segments must be measurable so they can be
identified.
Accessible: the segments must be reachable
through communication and distribution channels.
Unique needs: to justify separate offerings, the
segments must respond differently to different
marketing mixes.
Durable: the segments should be relatively stable
to minimize the cost of frequent changes.
Geographic
Demographic
Psychographic
Behaviourial
Geographic segmentation tries to
divide markets into different
geographical units:
 Regions
 Size of the area
 Population density
 Climate
 Regions: by continent, country,
state or even neighborhood.
 Size of the area: segmented
according to size of population.
 Population density: often classified
as urban, suburban, or rural.
 Climate: according to weather
patterns common to certain
geographic regions
Demographic segmentation consists of dividing the
market into groups based on variables such as:
• Age
• Gender
• Income
• Social class
• Life style
 Age : Marketers design, package and promote products
differently to meet the wants of different age groups.
 Gender: Gender segmentation is widely used in
consumer marketing.
 Income: Many companies target affluent consumers
with luxury goods and convenience services.
 Social class: Consumers "perceived" social class influences
their preferences for cars, clothes, home furnishings, leisure
activities and other products & services.
 Lifestyle: Marketers are increasingly interested in the effect of
consumer "lifestyles" on demand. Unfortunately, there are
many different lifestyle categorization systems, many of them
designed by advertising and marketing agencies as a way of
winning new marketing clients and campaigns.
Psychographic segmentation groups customers according
to their lifestyle. Activities, interest, and opinions (AIO)
surveys are one tool for measuring lifestyle.
 Activities
 Interest
 Opinion
 Values
Behavioralistic segmentation is based on actual customer
behavior towards products. Some behavioralistic variable
include:
 Opinions, interests and hobbies
 Degree of loyalty
 Occasions
 Benefits sought
 Usage
 Opinions, interests and hobbies – this covers a huge area and includes
consumers’ political opinions, views on the environment, sporting and
recreational activities and arts and cultural issues.
 Degree of loyalty – customers who buy one brand either all or most of the
time are valuable to firms.
 Occasions – this segments on the basis of when a product is purchased or
consumed.
 Benefits sought – this requires marketers to identify and understand the
main benefits consumers look for in a product.
 Usage – some markets can be segmented into light, medium and heavy user
groups.
Market Segmentation

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Market Segmentation

  • 2. What is Market Segmentation?
  • 3. The marketing concept calls for understanding customer and satisfying there needs better than the competition. Different customers have different needs, and its rarely possible to satisfy all the customers by treating them alike.
  • 4. Indefinable: the differentiating attributes of the segments must be measurable so they can be identified. Accessible: the segments must be reachable through communication and distribution channels.
  • 5. Unique needs: to justify separate offerings, the segments must respond differently to different marketing mixes. Durable: the segments should be relatively stable to minimize the cost of frequent changes.
  • 7. Geographic segmentation tries to divide markets into different geographical units:  Regions  Size of the area  Population density  Climate
  • 8.  Regions: by continent, country, state or even neighborhood.  Size of the area: segmented according to size of population.  Population density: often classified as urban, suburban, or rural.  Climate: according to weather patterns common to certain geographic regions
  • 9. Demographic segmentation consists of dividing the market into groups based on variables such as: • Age • Gender • Income • Social class • Life style
  • 10.  Age : Marketers design, package and promote products differently to meet the wants of different age groups.  Gender: Gender segmentation is widely used in consumer marketing.  Income: Many companies target affluent consumers with luxury goods and convenience services.
  • 11.  Social class: Consumers "perceived" social class influences their preferences for cars, clothes, home furnishings, leisure activities and other products & services.  Lifestyle: Marketers are increasingly interested in the effect of consumer "lifestyles" on demand. Unfortunately, there are many different lifestyle categorization systems, many of them designed by advertising and marketing agencies as a way of winning new marketing clients and campaigns.
  • 12. Psychographic segmentation groups customers according to their lifestyle. Activities, interest, and opinions (AIO) surveys are one tool for measuring lifestyle.  Activities  Interest  Opinion  Values
  • 13. Behavioralistic segmentation is based on actual customer behavior towards products. Some behavioralistic variable include:  Opinions, interests and hobbies  Degree of loyalty  Occasions  Benefits sought  Usage
  • 14.  Opinions, interests and hobbies – this covers a huge area and includes consumers’ political opinions, views on the environment, sporting and recreational activities and arts and cultural issues.  Degree of loyalty – customers who buy one brand either all or most of the time are valuable to firms.  Occasions – this segments on the basis of when a product is purchased or consumed.  Benefits sought – this requires marketers to identify and understand the main benefits consumers look for in a product.  Usage – some markets can be segmented into light, medium and heavy user groups.