Uploaded byDezyneecole
Sakshi Gupta BBA 1st Year
The document outlines market segmentation, defining it as the process of dividing a potential market into distinct subsets of consumers. It details various segmentation bases including geographic, demographic, psychographic, sociocultural, use-related, usage-situation, and benefit segmentation. Additionally, it discusses the importance of understanding consumer needs and implementing effective targeting strategies for market segments.
More Related Content
Similar to Sakshi Gupta BBA 1st Year
Sakshi Gupta BBA 1st Year
- 1. Sakshi Gupta BBA 1stYear Dezyne E’cole College, Ajmer www.dezyneecole.com Market Segmentation By:
- 2. Market Segmentation The processof dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.
- 3. Phases of MarketingStrategy 1. Market Segmentation 2. Target Market and Marketing Mix Selection 3. Product/Brand Positioning
- 4. Segmentation Studies Need •Discover the needs and wants of groups of consumers to develop specialized products to satisfy group needs • Used to identify the most appropriate media for advertising
- 5. Bases of Segmentation •Geographic • Demographic • Psychological • Psychographic • Sociocultural • Use-Related • Usage-Situation • Benefit Sought • Hybrid
- 6. 1. Geographic Segmentation Region Densityof area City Size Climate Southwest, Mountain States, Alaska, Hawaii Major metropolitan areas, small cities, towns Urban, suburban, exurban, rural Temperate, hot, humid, rainy
- 7. 2. Demographic Segmentation AgeUnder 12, 12-17, 18-34, 35-49, 50-64, 65-74, 75-99, 100+ Sex Male, female Marital Status Single, married, divorced, living together, widowed Income Under $25,000, $25,000-$34,999, $35,000-$49,999, $50,000- $74,999, $75,000-$99,999, $100,000 and over Education Some high school, high school graduate, some college, college graduate, postgraduate Occupation Professional, blue-collar, white-collar, agricultural, military
- 8. 3. Psychological Segmentation Needsmotivation Perception Personality Learning Involvement Shelter, safety, security, affection, sense of self- worth Extroverts, novelty seeker, aggressive, innovators Low-risk, moderate-risk, high-risk Low-involvement, high-involvement Attitudes Positive attitude, negative attitude
- 9. • Motivations • Personality •Perceptions • Learning • Attitudes Psychological Segmentation
- 10. 4. Psychographic Segmentation Economy-minded,couch potatoes, outdoors enthusiasts, status seekers Lifestyle
- 11. Psychographic Segmentation • Alsoknown as Lifestyle Analysis • Psychographic variables include attitudes, interests, and opinions (AIOs)
- 12. 5. Sociocultural Segmentation Cultures Religions American,Italian, Chinese, Mexican, French, Pakistani Catholic, Protestant, Jewish, Moslem, other African American, Caucasian, Asian, Hispanic Lower, middle, upper Bachelors, young married, full nesters, empty nesters Social Class Family life Cycle Subcultures
- 13. Sociocultural Segmentation • FamilyLife Cycle • Social Class • Culture, Subculture, and Cross-Culture
- 14. 6. Use-Related Segmentation UsageRate Brand Loyalty Awareness Status Heavy users, medium users, light users, non users Unaware, aware, interested, enthusiastic None, some, strong
- 15. Use-Related Segmentation • Rateof Usage – Heavy vs. Light • Awareness Status – Aware vs. Unaware • Brand Loyalty – Brand Loyal vs. Brand Switchers
- 16. 7. Use- SituationSegmentation Time Location Objective Person Leisure, work, rush, morning, night Personal, gift, snack, fun, achievement Home, work, friend’s home, in-store Self, family members, friends, boss, peers Benefit Convenience, social acceptance, long lasting, economy, value-for-the-money
- 17. • Segmenting onthe basis of special occasions or situations • Example Statements: – Whenever our daughter Jamie gets a raise, we always take her out to dinner. – When I’m away on business, I try to stay at a suites hotel. – I always buy my wife flowers on Valentine’s Day. Usage-Situation Segmentation
- 18. 8. Benefit Segmentation •Convenience • Social acceptance • Long lasting • Economy • Value-for-the-money
- 19. 9. Hybrid Segmentation Demographic/ Psychographics Convenience,social acceptance, long lasting, economy, value-for-the-money PRIZM NE Geodemographics “Movers & Shakers,” “New Empty Nests,” “Boomtown Singles,” “Bedrock America” SRI VALS Innovators, Thinkers, Believer, Achievers, Strivers, Experiencer, Makers, Survivors
- 20. Hybrid Segmentation Approaches •Psychographic-Demographic Profiles • Geodemographic Segmentation • SRI Consulting’s VALS
- 21.
- 22. Criteria for EffectiveTargeting of Market Segments • Identification • Sufficiency • Stability • Accessibility
- 23. Implementing Segmentation Strategies • ConcentratedMarketing One segment • Differentiated Several segments with individual marketing mixes
- 24. Thank You By Sakshi Gupta BBA1yr. Dezyne E’cole College www.dezyneecole.com