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What are the different levels of segmentation?
There are several levels of market segmentation including geographic, demographic, psychographic, and behavioral. Geographic segmentation divides the market into countries, states/provinces, cities, and rural/urban areas. Demographic segmentation divides the market by age, gender, income, education, and socio-economic classification. Psychographic segmentation divides the market based on social class and lifestyle factors. Behavioral segmentation divides the market by user status, usage rate, benefits sought, brand loyalty, and other usage characteristics. Market segmentation allows companies to better understand customer needs and target specific segments.
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What are the different levels of segmentation?
- 1. What are thedifferent levels of Market segmentation? By Sanchit Aggarwal Birla Institute of Technology and Science Pilani-K.K Birla Goa Campus
- 2. The process ofdividing and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants and demand characteristics What is marketing segmentation?
- 4. Why segmentation? • Todevelop marketing activities • Increase marketing effectiveness • Generate greater customer satisfaction • To identify strategic opportunities and niches • Allocation of marketing budgets • Adjustment of product to the market need
- 5. Country State/Province City Rural andurban areas Geographic
- 6. Beer is segmentedacross countries and regions(through regional brewers and brands)
- 7. And so ischeese !!
- 8. Age and lifestage Gender Income and education Socio-economic classification Demographic
- 9. AGE Targeted at youth Targetedat studentsTargeted at kids Targeted at elders
- 10. People have differentconcerns at different LIFE STAGES EDUCATION RETIREMENT PLANNING HEALTH INSURANCE
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- 12. Men and womenhave different needs
- 13. Income Companies like Rolex, omega, andTAG Heuer are increasingly advertising in India
- 14. Low unit price through appropriate packaginghas made targeting low income audience possible One of the ways is “Sachet marketing”
- 15. Socio-economic classification • Developedunder the initiative of the Marketing Research Society of India(MRSI) to classify the urban and rural household • Urban system-the education level and the occupation of the head of the household as variables • Rural system-uses education level of the head and the type of dwelling that the household lives in as variables
- 18. Consumption patterns across differentclasses A,B C,R1 D,E1,R2 E2,R3 A1
- 19. Psychographic • VALS systemof classification provides a dynamic framework of values and lifestyles; which helps to explain why people act as they do as social groups and as consumers. • Dimensions of VALS system are consumer motivation and resources
- 20. Experiencers Young, enthusiastic impulsive people whoseek variety and excitement They spend a comparatively high proportion of their income on fashion, entertainment, and socializing
- 21. Thinkers • Mature, satisfied andreflective people motivated by ideals. • They seek durability, functionality and value in a product.
- 23. Achievers They’re successful, goal oriented people whofocus on career and family. They favour premium products that demonstrate success to their peers.
- 24. Believers They’re conservative, conventional, and traditional people withconcrete beliefs. They prefer familiar, Indian brands and are loyal to established brands.
- 25. Strivers They are trendy funloving people who are resource constrained. They prefer stylish products that emulate the purchases of those with great material wealth.
- 26. Makers Practical, down to earth,self sufficient people Seek Indian made products with a practical or functional purpose
- 27. Survivors Elderly, passive people concerned about change and LOYALto their favourite brands.
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- 30. Occasions marked attime of day
- 31. User status The keyis to attract potential users and even non-users. Airlines keep expanding their network to attract new consumers
- 32. Usage rate Customers can beclassified and targeted as Heavy , Medium and Light users
- 33. Attitude Political campaign aretargeted according to the attitudes of people towards their political party.
- 34. Benefits sought A drinkcan offer different benefits
- 35. Brand loyalty Loyalty cardshelp generate brand loyalty