service market segmentation in hindi and English

1. SERVICE MARKET
SEGMENTATION
By Dr Vivek Kumar

2. MARKET SEGMENTATION
Market segmentation is the sub- dividing of market into homogeneous sub section of
customers, where any sub section may conceivable be selected as a market target to
be reached with a distinct market mix. The marketer has to identify his targeted
customers (segments ). For example, a motorcycle manufacturing company has to
identify their market segments, like female officers, teenage college students, and
middle aged customers. After identifying the segments the marketer (manufacturer)
has to understand their tastes and expectations. In the case of female customers, they
need not use much power full vehicles, like that the teenagers demand most powerful
and stylish vehicles and the middle aged customers need vehicles having more
mileage.

3. BENEFITS OF MARKET SEGMENTATION
No one can satisfy all people all time, can satisfy some people all the time or all people for some
time. This concept is reflected in market segmentation:
1. Facilitates proper choice of target market
2. Helps distinguish one customer group from another within a given market
3. Facilitates effective tapping of the market, adapting the offer to the target
4. The “ divide and rule” concept as a strategy of dividing markets for conquering them
5. Helps crystalise the needs of the target buyers and bring out more predictable responses from
them, helps develop marketing programs on a more predictable base, helps develop marketing
offers that are most suited to each group.
6. Helps specialization required in products/services , distribution , promotion, and pricing for
matching the customer group and developing marketing offers and appeals that match the needs of
such groups.
7. Makes marketing effort more efficient and economic, helps to identify less satisfied segments
and concentrate on them to improve level of satisfaction.
8. Helps to concentrate efforts on the most production and profitable segments instead of frittering
them away over irrelevant or unproductive or unprofitable segments.
9. Brings benefits to the customer as well, in various ways.
10. When segmentation attains high sophistication, customers and companies can choose each
other and stay together

4. STEPS IN THE SEGMENTATION PROCESS
a. Define and analyze the market
b. Identify and describe potential
segments
c. Select the segment(s) to be
served
d. Determine the product
positioning strategy
e. Design and implement the
marketing program

5. APPROACHES OF SERVICE MARKET
SEGMENTATION
SEGMENTATION APPROACHES
CONSUMER
CHARACTERISTIC
S
Demograph
ic
&
socioecono
mic
Physiograp
hic
geographic CONSUMER RESPONSES
Benefits
Usage
Promotio
nal
response
Loyalty
service