A market is defined as a venue for buyers and sellers to exchange goods and services, characterized by participants with purchasing power and interest. Market segmentation is beneficial for increasing sales, satisfying customer needs, gathering feedback, and reducing advertising costs, with types including geographic, demographic, behavioral, and psychographic factors. Niche marketing focuses on distinctly defined customer groups seeking specific benefits, typically by further dividing market segments into sub-segments.

2. A Market is a place which allows the purchaser and the seller to
invent and gather information’s and lets them carry out exchange
of various products and services.
In other words the Meaning of Market refers to a place where the
trading of goods takes place. The place can be a market place or
a street market. A market is thus by definition comprises people
or business with potential interest, purchasing power and
willingness to spend the money to buy a product or service that
satisfies need.

3. MEANING OF SEGMENTATION:

5. WHY SEGMENT THE MARKET?

6. BENEFITS OF SEGMENTATION
•Increases Sales.
•Satisfy customer needs more successfully.
•Customer feedback more easily obtained.
•Reduced costsas money is not wasted on ineffective
advertising & promotion.

7. 1. Geographic
2. Demographic
3.Behavioral
4. Psychographic

10. - Region
South India, Western Region, North, East
-City
Cities, Metro Cities, Cities with a population of 0.5 million to 1
million, Cities with a population of over 1 million.
- Rural & semi-urban areas
Rural villages with a population over 10,000; Semi-urban areas;
small town with a population between 20,000 & 50,000

13. -Age
Kids, Teenagers, Youth, Working age group, senior Citizens.
-Gender
Male, Female
-Income
Low (up to 40,000 p.a.), lower middle (40,001 -80,000p.a.), Middle (80,001-12,000 p.a.),
Upper middle (12,001 -1,60,000p.a.), High (above 1,60,000 p.a.)
-Occupation
Unskilled worker, Skilled worker, Petty traders, Shop owners, Businessman/Industrialist, Self
employed(Professionals, Supervisory level, Sales executive)
-Education
Illiterate, School up to 4 years, School between 5 – 9, SSC/HSC, Graduate/Postgraduate.

18. -Socioeconomic classification (SEC)
A1, A2, B1, B2, C, D, E1,E2. (Purchase potential)
-Lifestyle
Culture Oriented, Sports Oriented, Outdoor oriented.
-Personality
Compulsive, Gregarious, Ambitious

21. Occasions
Regular, Special
Benefits
Quality, Service, Economy, Speed
User status
Nonuser, Ex-user, Potential user, First time user, Regular user
Loyalty status
None, Medium, Strong, Absolute
Readiness stage
Unaware, Aware, Informed, Interested, Desirous, Intending to buy
Attitude towards product
Enthusiastic, Positive, Indifferent, Negative, Hostile

26. Niche Marketing

27. Meaning
A Niche is more narrowly defined customer group seeking a distinctive mix
of benefits. Marketers usually identify niches by dividing a segment into sub
segments.