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Market segmentation

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Market segmentation

  1. 1. What ?It is a process of disaggregating total market into a number of submarkets. Why? Efforts are concentrated on most productive and profitable segment of market. Jackwinder Singh Uppal
  2. 2. Market Segmentation Identify bases Develop profiles for segmenting of resulting the market segments
  3. 3. Bases for Segmenting a market Geographic Demographic Psychographic segmentation segmentation segmentation Behavioral Volume segmentation segmentation
  4. 4. Geographic Demographic  Dividing the markets  Demographic variables into different geographic  Age, Gender units.  Family size, family life  Region cycle  City or metro size  Income  Density  Occupation  Climate  Education  Nations  Religion  States  Race  Country, etc  Nationality
  5. 5. Psychographic Behavioral  Social class  Occasions  Lifestyle  Benefits  Personality  User status characteristics  Usage rate  Loyalty status  Readiness stage  Attitude toward product
  6. 6. Requirements for effective segmentation/characteristics Measurability Accessibility Substantiality Actionability
  7. 7. Discussion  Find an advertisement from a hospitality or travel company that targets a specific segment, such as children, young adults, seniors, upper income customer, and so on.  Then visit a location of that company.  What does the company do at that location with its marketing mix to attract the segment that it targeted in the advertisement? This can include sales promotions, signage, promotion mix, location of the company, and pricing of products.

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