Market segmentation is a marketing concept which divides the complete market set up into smaller subsets comprising of consumers with a similar taste, demand and preference.Market segmentation helps the marketers to understand the needs of the target audience and adopt specific marketing plans accordingly. Organizations can adopt a more focused approach as a result of market segmentation.
No proper marketing tools used
31 SWOT Analysis Opportunities:
Proactive role of govt. in framing proper policies
Allowing entry of more multinational companies
Growth of Domestic Tourism
Threats:
Economic Conditions of the other countries
Political turbulence in Kashmir, Gujarat
Aggressive strategies approached by other countries for tourism
No proper marketing tools used
31 SWOT Analysis Opportunities:
Proactive role of govt. in framing proper policies
Allowing entry of more multinational companies
Growth of Domestic Tourism
Threats:
Economic Conditions of the other countries
Political turbulence in Kashmir, Gujarat
Aggressive strategies approached by other countries for tourism
Market Segmentation - Five Essential CriteriaMBA & Company
Market segmentation is practised by most businesses in one form or another, as a way of streamlining their marketing strategy by dividing broad-based target markets into specific groups of consumers, and devising marketing methods that will appeal to each group. =
On Friday 22 November 2013 in Stockholm, Implement Consulting Group once again invited the members of the Commercial Excellence Forum to an event of inspiration and discussion with peers.
This time focus was on segmentation – and how segmentation and a better understanding of customer needs and behaviour is a foundation for a more clear differentiation and effective sales approach.
Sebastien Leichtnam talked about his experience in managing sales development within Tetra Pak Technical Service and explained how Tetra Pak has grown their business through the development of segment-specific offerings and services. Tetra Pak has developed a customer segmentation model which is built on customers’ operational maturity as well as their willingness to outsource.
Designed for MBA Marketing graduates to understand the fundamentals of Market Segmentation.. Please comment or write me a review to uzair@hotmail.co.in
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).
A marketing segment is a meaningful buyer group having similar wants. Market segment is the portion of the market defined on the basis of the shared characteristics of people it covers. It the process of grouping buyers into different categories having common desires or needs. It is the strategy that subdivides the target market into sub-groups of consumers with definable, distinct and homogeneous characteristics with a view to develop marketing programmes for each sub-group in order to enhance satisfaction to consumers and profit to the marketer.
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
As opposed to retailing, wholesaling is the act of selling products or services for the use in businesses. That being said, the wholesaling diversity is much more narrow than that of the retailing industry.
Retailing is the act of selling products or services to people for their personal, non business use. A retailer is a business that specializes in the act of retailing primarily.
Retailing includes all the activities involved in selling goods or services directly to final customers for their personal, non business use. A retailer is any business enterprise whose sales volume comes primarily from retailing.
Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.Compensation Management is a Process of compensation management is to establish & maintain an equitable wage & salary structure & an equitable cost structure .it involves job evaluation, wage & salary survey, profit sharing &control of pay costs.
According to Thomas J. Bergmann(1988) compensation consists of four distinct components:
Compensation = Wage or Salary + Employee benefits +Non-recurring financial rewards+ Non-pecuniary rewards.
Compensation is a tool used by management for a variety of purposes to further the existence of the company. Compensation may be adjusted according the business needs, goals, and available resources.
Motivation is the word derived from the word ’motive’ which means needs, desires, wants or drives within the individuals. It is the process of stimulating people to actions to accomplish the goals.
Retailing as a sector includes subordinated services, such as delivery. The term "retailer" is also applied where a service provider services the small orders of a large number of individuals, rather than large orders of a small number of wholesale, corporate or government clientele. Shops may be on residential streets, streets with few or no houses, or in a shopping mall.
Communication is sending and receiving information between two or more people. The person sending the message is referred to as the sender, while the person receiving the information is called the receiver. The information conveyed can include facts, ideas, concepts, opinions, beliefs, attitudes, instructions and even emotions.
Leadership is the ability to not only understand and utilize your innate talents, but to also effectively leverage the natural strengths of your team to accomplish the mission. There is no one-size fits all approach, answer key or formula to leadership. Leadership should be the humble, authentic expression of your unique personality in pursuit of bettering whatever environment you are in.
Product design in its broadest sense includes the whole development of the product through all the preliminary stages until actual manufacturing begins.The process focuses on figuring out what is required, brainstorming possible ideas, creating mock prototypes, and then generating the product. however, that is not the end of the process.
Have you ever wondered how search works while visiting an e-commerce site, internal website, or searching through other types of online resources? Look no further than this informative session on the ways that taxonomies help end-users navigate the internet! Hear from taxonomists and other information professionals who have first-hand experience creating and working with taxonomies that aid in navigation, search, and discovery across a range of disciplines.
Sharpen existing tools or get a new toolbox? Contemporary cluster initiatives...Orkestra
UIIN Conference, Madrid, 27-29 May 2024
James Wilson, Orkestra and Deusto Business School
Emily Wise, Lund University
Madeline Smith, The Glasgow School of Art
This presentation by Morris Kleiner (University of Minnesota), was made during the discussion “Competition and Regulation in Professions and Occupations” held at the Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found out at oe.cd/crps.
This presentation was uploaded with the author’s consent.
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0x01 - Newton's Third Law: Static vs. Dynamic AbusersOWASP Beja
f you offer a service on the web, odds are that someone will abuse it. Be it an API, a SaaS, a PaaS, or even a static website, someone somewhere will try to figure out a way to use it to their own needs. In this talk we'll compare measures that are effective against static attackers and how to battle a dynamic attacker who adapts to your counter-measures.
About the Speaker
===============
Diogo Sousa, Engineering Manager @ Canonical
An opinionated individual with an interest in cryptography and its intersection with secure software development.
This presentation, created by Syed Faiz ul Hassan, explores the profound influence of media on public perception and behavior. It delves into the evolution of media from oral traditions to modern digital and social media platforms. Key topics include the role of media in information propagation, socialization, crisis awareness, globalization, and education. The presentation also examines media influence through agenda setting, propaganda, and manipulative techniques used by advertisers and marketers. Furthermore, it highlights the impact of surveillance enabled by media technologies on personal behavior and preferences. Through this comprehensive overview, the presentation aims to shed light on how media shapes collective consciousness and public opinion.
2. Market: A set up where two or more parties engage in exchange of
goods, services and information is called a market. Ideally a market is a place
where two or more parties are involved in buying and selling.
• The two parties involved in a transaction are called seller and buyer.
• The seller sells goods and services to the buyer in exchange of money. There
has to be more than one buyer and seller for the market to be competitive.
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3. Types of Markets
• Physical Markets - Physical market is a set up where buyers can physically
meet the sellers and purchase the desired merchandise from them in exchange
of money. Shopping malls, department stores, retail stores are
examples of physical markets.
• Auction Market - In an auction market the seller sells his goods to one who is
the highest bidder.
• Non Physical Markets/Virtual markets - In such markets, buyers purchase
goods
and services through internet.
In such a market the buyers and sellers do not meet or3
4. Examples - Rediff shopping, eBay etc.
• Market for Intermediate Goods - Such markets sell raw materials
(goods) required for the final production of other goods.
• Black Market - A black market is a setup where illegal
goods like drugs and weapons are sold.
• Knowledge Market - Knowledge market is a set up which deals in the
exchange of information and knowledge based products.
• Financial Market - Market dealing with the exchange
of liquid assets (money) is called a financial market.
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5. Market Segmentation:
Segmentation refers to a process of bifurcating or
dividing a large unit into various small units which have more or
less similar or related characteristics.
Market segmentation involves dividing large,
heterogeneous markets into smaller segments that can be reached
more efficiently and effectively with products and services that
match their unique needs.
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6. • A market segment is a small unit within a large market comprising of like
minded individuals.
• One market segment is totally distinct from the other segment.
• A market segment comprises of individuals who think on the same lines and
have similar interests.
• The individuals from the same segment respond in a similar way to the
fluctuations in the market.
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8. 1.Geographic Segmentation
Geographic segmentation refers to the classification of market
in to various geographical areas. A marketer can’t have similar
strategies for individuals living at different places.
2.Demographic segmentation
Demographic market segmentation is one of the most common approaches to
segmenting markets. With this strategy, a company simply divides the larger
market
in to groups based on several defined traits . Age, race, gender, marital status,
occupation, education and income are among the commonly considered
demographics segmentation traits.
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9. 3.Psychographic segmentation
Psychographic segmentation means dividing the market into groups
based on social class, lifestyle or personality characteristics. Psychographics or
lifestyle segmentation has become increasingly common as companies look to
identify consumers based on interests and activities in lieu of demographics.
As an example of this strategy's benefits, consider the lifestyle of an
outdoor adventurer. Camping enthusiasts, for instance, typically have few
consistent demographic traits. Campers are a diverse group. Thus, marketers
would likely target a segment of outdoor hobbyists or campers for new camping
equipment through outdoor programs or magazines.
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10. 4.Behavioristic Segmentation:
In this method consumers are classified into market segments not the basis of
their knowledge, attitude and use of actual products or product attributes.The
following variables might be used for this purpose:
(а) Purchase Occasion:
• Buyers may be differentiated on the basis of when they use a product or
service. For example, air travellers might fly for business or vacation.
Therefore, one airline might promote itself as a business flyer while another
might target the tourists.
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11. (b) Benefits Sought :The major benefit sought in a product is used as the basis of
classify consumers.
• High quality, low price, good taste, speed, sex appeal are examples of benefits.
For example, some air travelers prefer economy class (low price), while others
seek executive class (status and comfort).
(c)User Status:
• Potential buyers may be classified as regular users, occasional users and non-
users. Marketers can develop new products or new uses of old products by
targeting one or another of these groups.
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12. Reasons why firms segment markets
Target markets Obviously the main reason is to help identify potential target
markets
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Market understanding Splitting the overall market into smaller groups helps managers
have a much greater understanding of the marketplace, as they
gain knowledge of differing consumer needs within the same
market
Marketing mix It is then easier to develop a marketing mix is based upon the
needs of a precise market
Competitive position It can be easier to compete against existing firms by focusing upon
a smaller, more defined, group of consumers
New opportunities Creative approaches to market segmentation may generate new
opportunities
Avoid mass-marketing In today’s environment, it is generally quite difficult to be
successful as a mass-marketer.
More offerings Firms are better able to position multiple products in the same
overall market by defining and understanding multiple segments.
Niche marketing Some firms find success as niche marketers(pursuing very
narrowly defined segments) and this specialized approach
becomes their basis of their competition advantage
14. • a) Measurable: The size, needs, purchasing power, and characteristics of the
customers in the segment should be measurable. Quantification should be
possible.
• b) Divisible: The segments should be differentiable. There must be clear-cut
basis for dividing customers into meaningful homogeneous groups. They
should respond differently to different marketing mixes. There should be
differences in buyer's needs, characteristics and behaviour for dividing in
groups.
• c) Accessible: The segment should be reachable and serviceable. It should be
accessible through existing marketing institutions, such as distribution
channels, advertising media and sales force. There should be middlemen to
distribute the products
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15. • d) Substantial: The segment should be substantial. It should be large enough in
terms of customers and profit potential. IT should justify the costs of
developing
a separate marketing mix.
• e) Actionable: It should be actionable for marketing purposes. Organizations
should be able to design and implement the marketing mix to serve the chosen
segment.
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17. Three main activities of target marketing are segmenting,
targeting and positioning. These three steps make up what is commonly referred to
as the S-T-P marketing process. Companies and marketers use this step-by-step
approach to target marketing to figure out which segments offer the best profit
potential and how to effectively market to them.
SEGMENTATION
Segmenting means breaking up the market into smaller,
homogeneous segments. Within S-T-P, it is a virtual brainstorming step whereby
the business considers all possible market segments. Segmenting strategies include
demographics, lifestyle, geographic and behavioral approaches. Demographics
segmentation means you break up markets based on personal traits like age, race,
marital status, gender and income.
17
18. segmenting means you divide customers by hobbies and interests.
Geographic segmentation makes local, state, regional, national or
international markets key. Behavioral segmenting is based on such things as
usage patterns and benefits sought from the product.
TARGETING
Following the brainstorming of possible segments in step one,
the next step is to pick a select market to target or focus on. Companies often
focus on one market segment at a time with marketing and ad campaigns.
Whichever market is the most attractive from a profit
standpoint or long-term potential is usually selected first. Factors including
size of the market, growth potential and competitive intensity impact the
perceived opportunity in targeting a given market.
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19. POSITIONING
Positioning is how the company wants the targeted market to
perceive its brand or product. Some companies make quality a key positioning
message and try to market their product as top quality for the target market
segment. Other qualities commonly used to differentiate include service, unique
features, environmental friendliness, family friendliness, safety, reliability,
durability and low cost. The key is to stand out from competitors with a unique
message that appeals to the interests of the targeted market.
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