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    Market Segmentation

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    nuplin.zain
    This document discusses market segmentation. It defines market segmentation as dividing a market into distinct groups based on characteristics and needs that may require separate products or marketing strategies. The key steps in market segmentation are identifying the basis for segmentation, developing segment profiles, selecting target segments, and creating a marketing mix for each segment. Different levels of segmentation include segment marketing, individual marketing, niche marketing, and local marketing. Demographic, psychographic, behavioral, and other variables can serve as the basis for segmentation. Effective segmentation results in segments that are measurable, substantial, accessible, differential, and actionable.

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    Market Segmentation

    Uploaded by

    nuplin.zain
    14K views30 pages
    This document discusses market segmentation. It defines market segmentation as dividing a market into distinct groups based on characteristics and needs that may require separate products or marketing strategies. The key steps in market segmentation are identifying the basis for segmentation, developing segment profiles, selecting target segments, and creating a marketing mix for each segment. Different levels of segmentation include segment marketing, individual marketing, niche marketing, and local marketing. Demographic, psychographic, behavioral, and other variables can serve as the basis for segmentation. Effective segmentation results in segments that are measurable, substantial, accessible, differential, and actionable.

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    Subject:Marketing Management

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    This document discusses market segmentation. It defines market segmentation as dividing a market into distinct groups based on characteristics and needs that may require separate products or marketing strategies. The key steps in market segmentation are identifying the basis for segmentation, developing segment profiles, selecting target segments, and creating a marketing mix for each segment. Different levels of segmentation include segment marketing, individual marketing, niche marketing, and local marketing. Demographic, psychographic, behavioral, and other variables can serve as the basis for segmentation. Effective segmentation results in segments that are measurable, substantial, accessible, differential, and actionable.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    14K views30 pages

    Market Segmentation

    Uploaded by

    nuplin.zain
    This document discusses market segmentation. It defines market segmentation as dividing a market into distinct groups based on characteristics and needs that may require separate products or marketing strategies. The key steps in market segmentation are identifying the basis for segmentation, developing segment profiles, selecting target segments, and creating a marketing mix for each segment. Different levels of segmentation include segment marketing, individual marketing, niche marketing, and local marketing. Demographic, psychographic, behavioral, and other variables can serve as the basis for segmentation. Effective segmentation results in segments that are measurable, substantial, accessible, differential, and actionable.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 30
    At a glance
    Powered by AI
    The key takeaways are that market segmentation involves dividing the market into distinct groups based on characteristics and behaviors in order to develop tailored marketing strategies. The main steps involve identifying segmentation bases, developing segment profiles, evaluating segment attractiveness, and selecting target segments.

    The different levels of market segmentation discussed are segment marketing, individual marketing, niche marketing, and local marketing.

    Some important bases for consumer market segmentation include geographical, demographic, psychographic, and behavioral factors.

    Market

    Segmentation
    Group Members
    Taha bin Javaid
    Bilal Razzak
    Umair Zafar
    What is Market Segmentation?

     Dividing a market into distinct groups of


    buyers on the basis of needs
    characteristics or behaviour who might
    require separate product or marketing
    mixes.
    Steps in Market Segmentation

     Steps in Market Segmentation, targeting


    and positioning.

    Market Segmentation Market Targeting Market Positioning


    2. Identify basis for 3. Develop measure 5. Develop positioning
    segmentation of segment for target segments
    3. Develop Segment attractiveness
    6. Develop a marketing
    Profiles 4. Select target mix for each segment
    segments
    Levels of Market Segmentation

     Segment marketing

     Individual marketing

     Niche marketing

     Local marketing
    Levels of Market Segmentation

     Segment marketing – Dividing the market


    into different segments on the basis of
    homogenous need.
     Segmented on basis of broad similarity with
    regard to some attributes
     Segmentation is also sometimes identifying,
    capturing & retaining potential new markets
    Levels of Market Segmentation

     Individual marketing – Extreme marketing in


    which marketers focus on individual
    customers.
     Keep track of individual tastes &
    preferences of individual customers
     Many companies are approaching
    individuals through e-mails to promote their
    products.
    Levels of Market Segmentation

     Niche marketing – Marketers effort to


    position their product or service in smaller
    markets that have similar attributes and
    have been neglected by other marketer
     Segment further divided into sub segments
    to cater unsatisfied needs of small group is
    called as niche
    Levels of Market Segmentation
     Local marketing – marketers offer
    customized products to suit the local
    markets.
     KFC introduced “Muslimized” or “Pakistani”
    products such as Spicy Chicken, Hilal Chicken, Zinger
    Extreme and more…
    Bases for Consumer Market Segmentation

    Market
    Segementation

    Demographic
    Age, Psychographic Behavioral
    gender, Life style, Occasions,
    Geographical income,
    Regions, cities,
    occupation,
    personality, Benefits,
    states, countries values, Usage rate,
    religion,
    social class, beliefs Loyalty status
    family size
    Bases for Organizational Market
    Segmentation

    Market
    Segementation

    Personal
    Operating Characteristics Purchasing
    Demographics Situational
    Variables Of the Approaches
    Purchaser
    Intermarket Segmentation

     Forming segments of consumers who


    have similar needs and buying behaviour
    even though they are located in different
    countries.
     World markets can be segmented on
    economic factors, political and legal
    factors.
    Effective Segmentation
     Measurable

     Substantial

     Accessible

     Differential

     Actionable
    Target Market Selection Process

     Evaluating the Market Segments

     Selecting the Market Segments


    Evaluating Market Segments
     Before selecting the respective market
    segment, the company should evaluate the
    possible market segments in the current
    markets. It should identify and select its target
    consumers, give them their product according
    to their needs and establish that group of
    consumer in to permanent market segments.
    Selecting the Market Segments

     Single Segment Concentration:


    Focusing on a single segment gives
    the marketer the advantage of high
    sales as all the efforts are
    concentrated on that one segment

    Example: Mercedes concentrates on upper


    income group
    Selecting the Market Segments

     Selective Specialization:
    Process in which the company
    focuses its resources on a few
    segments and develops its expertise
    in fulfilling the needs of those
    segments
    Selecting the Market Segments

     Product Specialization :
    The firm makes a certain product that it
    sells to several segments

    Example: Microscope manufacturer


    who sells to university, government,
    and commercial laboratories.
    Selecting the Market Segments

     Full market coverage:


    Company targets the full market
    rather than any specific segment.

    Example: Hewlett-Packard targets the


    full market for its printers.
    Selecting the Market Segments

     Market specialization:
    The firm concentrates on serving many
    needs of a particular segment
    Example: A firm sells assortment of
    product to university laboratories.
    Other Consideration

     Ethical choice of market targets

     Segment interrelationships and super


    segments

     Segment-by-segment invasion plans

     Inter segment cooperation


    Ads In Focus - Imate
    Ads In Focus – Protex Gum
    Ads In Focus – Indoluna Care
    Ads In Focus – Honda
    Ads In Focus – HSBC
    Print Ads
    Print Ads
    Print Ads
    Print Ads
    Conclusion
     Market Segmentation is the backbone of
    marketing tactics. No matter of the locality
    market segmentation plays an important role in
    the products life cycle. It is one of that important
    practice that can never be ignored and specially
    in this era of mass customization.

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