Market segmentation by Uttam Raj Regmi

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Market segmentation by Uttam Raj Regmi

  1. 1. Market Segmentation By Uttam Raj Regmi
  2. 2. What is market segmentation? <ul><li>Dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products or marketing mixes </li></ul>
  3. 3. Requirements of Effective Segmentation <ul><li>Heterogeneous needs and characteristics </li></ul><ul><li>Measurability </li></ul><ul><li>Accessibility </li></ul><ul><li>Profitability </li></ul>
  4. 4. Benefits of Market Segmentation <ul><li>Identification of profitable markets </li></ul><ul><li>Market Specialization </li></ul><ul><li>Effective use of marketing resources </li></ul><ul><li>Monitoring changes in the market place </li></ul>
  5. 5. Process of Market Segmentation <ul><li>Survey </li></ul><ul><ul><ul><li>-Product attributes desired by buyers </li></ul></ul></ul><ul><ul><ul><li>Brand awareness among the buyers </li></ul></ul></ul><ul><ul><ul><li>Product use patterns </li></ul></ul></ul><ul><ul><ul><li>Buyers’ attitude toward the product category </li></ul></ul></ul><ul><ul><ul><li>Buyers’ demographic, psychographic characteristics </li></ul></ul></ul><ul><li>Analysis </li></ul><ul><li>Profiling </li></ul>
  6. 6. Segmentation variables for consumer markets <ul><li>Geographic segmentation </li></ul><ul><ul><li>Area, topography & climate, population density </li></ul></ul><ul><li>Demographic segmentation </li></ul><ul><ul><li>Age, Gender (Sex), Income, Social class, Family size education, occupation, education, religion </li></ul></ul><ul><li>Psychographic </li></ul><ul><ul><li>Buying motives, personality, life style </li></ul></ul><ul><li>Behavioral </li></ul><ul><ul><li>Benefits, Ocassions, User Status, Usage rate, Loyalty status </li></ul></ul>
  7. 7. Major Segmentation Variables for Consumer Markets Variable Typical Breakdowns Geographic Region Western, Eastern, Banke, Sunsari Country Size 147,141 Sq Km City /town/VDC size 5,000 – 10, 000, 50,000 Density Urban, Suburban, Rural
  8. 8. Contd. Variable Typical Breakdowns Demographic Age Under 6, 6-11, 12-19, 20-34 Sex Male, Female Family Size 1-2, 3-4, 5+ Family life cycle Young, Single, Young Married, no Children Income Under Rs 5000, 5000 -10000, Above 10000 Occupation Farmer, teacher, service holder, students Education High school, SLC , Bachelor, Masters Religion Catholic, Muslim, Hindu Race White, Black, Asian, Oriental, Nationality Nepali, Indian, American, German
  9. 9. Contd. Variable Typical Breakdowns Psychographic Social Class Lower class, working class, middle class Lifestyle Straights, Swingers, longhairs, Jhilke Personality Authoritarian, ambitious, gregarious
  10. 10. Contd. Variable Typical Breakdowns Behavioral Occasions Regular occasion, special ocassion Benefits Quality, service, economy User Status Nonuser, ex –user, potential user, regular user, first time user Usage Rate Light user, medium user, heavy us. Loyalty status None, medium, strong, absolute Readiness stage Unaware, aware, informed, intrest Attitude toward product Enthusiastic, positive, indifferent, negative, hostile
  11. 11. Exercise 2 <ul><li>Participants to learn to segment consumer markets by using variables like geographic, demographic, psychographic and behavioral </li></ul>

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