Unit 4 - Market Segmentation & Marketing a. Market Segmentation, Meaning & Bases for Market Segmentation b. Benefits of Market Segmentation c. Market Targeting & Positioning - Meaning & Importance d. Marketing Research, Elements of Marketing Research e. Importance of Marketing Research, Objectives, Marketing Research Process, Preparation of Questionnaire, Market Survey

1. KAUSHIK JAISWAL
7276888855 kaushjaiswal@gmail.com

2. 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 is a marketing concept which divides the
complete market set up into smaller subsets comprising of
consumers with a similar taste, demand and preference.
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3. MARKET SEGMENTATION
❑ 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.
❑ The idea is that marketing to customer groups who have similar
characteristics allows you to create campaigns that are more likely to
resonate.
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4. SEGMENTATION - CHARACTERISTICS
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Measurability
Accessibility
Sustainability
Actionability

5. BASES FOR SEGMENTATION
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6. BASES FOR SEGMENTATION
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See : Benefits of Segmentation

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11. TARGETING
Targeting is the process of actually determining the select
markets and planning the advertising media used to make
the segment appealing.
❑ Target Market consists of a set of buyers who share common needs
or characteristics that the company decides to serve.
❑ The process of evaluating segments and focusing marketing efforts
on a country, region, or group of people that has significant
potential to respond.
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12. CRITERIA FOR TARGETING: 9 W’S
❑ Who buys our product?
❑ Who does not buy it?
❑ What need or function does it serve?
❑ What are customers buying to satisfy the need for which our product
is targeted?
❑ What price are they paying?
❑ When is the product purchased?
❑ Where is it purchased?
❑ Why is it purchased?
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13. FACTORS FOR SELECTION OF TARGET MARKET
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1. Company’s Resources
2. Product Homogeneity
3. Product Stage in the Life Cycle
4. Market Homogeneity
5. Competitive Marketing Strategy

14. TARGET MARKETING STRATEGIES
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Single Segment Targeting
Selective Targeting
Mass Market Targeting
Product Specialization
Market Specialization
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2
3
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15. TARGET MARKETING STRATEGIES
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16. MARKET TARGETING STRATEGIES
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See : Market Targeting Strategies

17. POSITIONING
Positioning is the act of designing the company’s offering and image to
occupy a distinctive place in the target market’s mind.
Market Positioning refers to the ability to influence consumer
perception regarding a brand or product relative to competitors.
❑ Positioning defines where your product (item or service) stands in
relation to others offering similar products and services in the
marketplace as well as the mind of the consumer.
❑ The objective of market positioning is to establish the image or
identity of a brand or product so that consumers perceive it in a
certain way.
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18. POSITIONING BASES
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19. POSITIONING BASES
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20. TYPES OF POSITIONING
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Pricing Quality
Convenience
Customer
Service
Differentiation
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See : Types of Positioning

21. BENEFITS OF POSITIONING
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Consumer Goodwill and Loyalty
Win Attention and Interest of Consumers
Attract Different Types of Consumers
Face Competition on Value
Justifies Pricing Strategy
Cope with Market Changes
Breaks through the clutter of noise
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See : Benefits of Positioning

22. POSITIONING
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23. MARKETING RESEARCH
“The process of gathering, analyzing and interpreting
information about a market, about a product or service to be
offered for sale in that market, and about the past, present
and potential customers for the product or service; research
into the characteristics, spending habits, location and needs
of your business's target market, the industry as a whole, and
the particular competitors you face.”
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24. MARKETING RESEARCH
“The systematic gathering, recording and analysis of data
about problems relating to the marketing of goods and
services.”
-The American Marketing Association
“The systematic objective and exhaustive research for and
study of the facts relevant to any problem in the field of
marketing.”
-Richard Crisp
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25. NEED/IMPORTANCE OF MARKETING RESEARCH
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1. Identifying problem and opportunities in the market
2. Formulating market strategies
3. Determining consumer needs and wants
4. For effective communication mix
5. Improving selling activities
6. For sales forecasting
7. To revitalize brands
8. To facilitate smooth introduction of new products
9. Managerial decision-making
See : Need & Importance of Marketing Research

26. OBJECTIVES OF MARKETING RESEARCH
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To Provide Basis For Proper Planning
To Reduce Marketing Costs
To Find Out New Markets for The Product
To Determine Proper Price Policy
To Study in Detail Likes and Dislikes of Consumers
To Know The Market Competition
To Study The External Forces and Their Impact
See : Objectives of Marketing Research

27. MARKETING RESEARCH PROCESS
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See : Marketing Research Process
Ask questions to people
and collect the
responses
Analyze the collected
responses to find
required information
Provide the findings to
different departments

28. EXAMPLE
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29. NINE STEPS INVOLVED IN THE DEVELOPMENT
OF A QUESTIONNAIRE
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1. Decide the information required.
2. Define the target respondents.
3. Choose the method(s) of reaching your target respondents.
4. Decide on question content.
5. Develop the question wording.
6. Put questions into a meaningful order and format.
7. Check the length of the questionnaire.
8. Pre-test the questionnaire.
9. Develop the final survey form.

30. S-T-P
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31. S-T-P
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❑It comprises identifying the market to be segmented; identification,
selection, and application of bases to be used in that segmentation;
and development of profiles.
Segmentation
❑It is the process of identifying the most attractive segments from the
segmentation stage, usually the ones most profitable for the business.
Targeting
❑It is the final process, and is the more business-orientated stage, where
the business must assess its competitive advantage and position itself in
the consumer's minds to be the more attractive option in these
categories.
Positioning

32. THANK YOU..!
KAUSHIK JAISWAL
7276888855 kaushjaiswal@gmail.com
See : Benefits of Segmentation
See : Market Targeting Strategies
See : Types of Positioning
See : Benefits of Positioning
See : Need & Importance of Marketing Research
See : Objectives of Marketing Research
See : Marketing Research Process