MARKET SEGMENTATION

The market for any product is normally made up of several segments. A ‘market’ after all
is the aggregate of consumers of a given product. And, consumer (the end user), who
makes a market, are of varying characteristics and buying behavior. There are different
factors contributing for varying mind set of consumers. It is thus natural that many
differing segments occur within a market.

In order to capture this heterogeneous market for any product, marketers usually divide
or disintegrate the market into a number of sub-markets/segments and the process is
known as market segmentation market segmentation. Thus we can say that market
segmentation is the segmentation of markets into homogenous groups of customers,
each of them reacting differently to promotion, communication, pricing and other
variables of the marketing mix.

Market segments should be formed in that way that difference between buyers within
each segment is as small as possible. Thus, every segment can be addressed with an
individually targeted marketing mix. The importance of market segmentation results
from the fact that the buyers of a product or a service are no homogenous group.
Actually, every buyer has individual needs, preferences, resources and behaviors. Since
it is virtually impossible to cater for every customer’s individual characteristics,
marketers group customers to market segments by variables they have in common.
These common characteristics allow developing a standardized marketing mix for all
customers in this segment.

Through segmentation, the marketer can look at the differences among the customer
groups and decide on appropriate strategies/offers for each group. This is precisely why
some marketing gurus/experts have described segmentation as a strategy of dividing
the markets for conquering them.

Segmenting markets is the foundation for superior performance. Understanding how

buyer needs and wants vary is essential in designing effective marketing strategies.
Segmenting markets may be critical to developing to developing and implementing
market driven strategy.

The need to improve an organization’s understanding of buyers is escalating because of

buyers demand for uniqueness and an array of technology available to generate
products to satisfy the demands. Companies are responding to the opportunities to
provide unique customer value with products.

Market Segmentation and Strategic Targeting 1

 ATTRIBUTES OF EFFECTIVE SEGMENTATION

Market segmentation is resorted to for achieving certain practical purpose. For example,
it has to be useful in developing and implementing effective and practical marketing
programs. For this to happen, the segments arrived at must meet certain criteria such:-

a. Identifiable - The differentiating attributes of the segments must be measurable

so that they can be identified.

b. Accessible - The segments must be reachable through communication and

distribution channels.

c. Sizeable - The segments should be sufficiently large to justify the resources

required to target them. A very small segment may not serve commercial
exploitation.

d. Profitable - There is no use in locating segments that are sizeable but not
profitable.

e. Unique needs - To justify separate offerings, the segments must respond

differently to the different marketing mixes.

f. Durable - The segments should be relatively stable to minimize the cost of

frequent changes.

g. Measurable - The potential of the segments as well as the effect of a specific

marketing mix on them should be measurable.

h. Compatible - Segments must be compatible with firm’s resources and

capabilities.

Market Segmentation and Strategic Targeting 2

 BASES FOR CONSUMER MARKET SEGMENTATION

There are number of variables involved in consumer market segmentation, alone and
in combination. These variables are:

 Geographic variables
 Demographic variables
 Psychographic variables
 Behavioral variables
 Occasions
 Benefits

Geographic Segmentation

In geographical segmentation, market is divided into different geographical units like:

 Regions (by country, nation, state, neighborhood)

 Population Density (Urban, suburban, rural)
 City size (Size of area, population size and growth rate)
 Climate (Regions having similar climate pattern)

A company, either serving a few or all geographic segments, needs to put attention on
variability of geographic needs and wants. After segmenting consumer market on
geographic bases, companies localize their marketing efforts (product, advertising,
promotion and sales efforts).

Demographic Segmentation

In demographic segmentation, market is divided into small segments based on

demographic variables like:

 Age
 Gender
 Income
 Occupation
 Education
 Social Class

Market Segmentation and Strategic Targeting 3

  Generation
 Family size
 Family life cycle
 Home Ownership
 Religion
 Ethnic group/Race
 Nationality

Demographic factors are most important factors for segmenting the customers groups.
Consumer needs, wants, usage rate these all depend upon demographic variables. So,
considering demographic factors, while defining marketing strategy, is crucial.

Psychographic Segmentation

In Psychographic Segmentation, segments are defined on the basis of social class,

lifestyle and personality characteristics.
Psychographic variables include:

 Interests
 Opinions
 Personality
 Self Image
 Activities
 Values
 Attitudes

A segment having demographically grouped consumers may have different

psychographic characteristics.

Behavioral Segmentation

In this segmentation market is divided into segments based on consumer knowledge,

attitude, use or response to product.
Behavioral variables include:

 Usage Rate
 Product benefits
 Brand Loyalty

Market Segmentation and Strategic Targeting 4

  Price Consciousness
 Occasions (holidays like mother’s day, New Year and Eid)
 User Status (First Time, Regular or Potential)

Behavioral segmentation is considered most favorable segmentation tool as it uses

those variables that are closely related to the product itself.

Occasions
Segmentation according to occasions. we segment the market according to the
occasions.

Benefits

Segmentations according to benefits sought by the consumer.

VALS FRAMEWORK AND SEGMENTS

VALS ("Values, Attitudes and Lifestyles") is a proprietary research methodology used for
psychographic market segmentation. Market segmentation is designed to guide
companies in tailoring their products and services to appeal to the people most likely to
purchase them.

The main dimensions of the VALS framework are primary motivation (the horizontal
dimension) and resources (the vertical dimension). The vertical dimension segments
people based on the degree to which they are innovative and have resources such as
income, education, self-confidence, intelligence, leadership skills, and energy. The
horizontal dimension represents primary motivations and includes three distinct types:
Consumers driven by knowledge and principles are motivated primarily by ideals. These
consumers include groups called Thinkers and Believers.
Consumers driven by demonstrating success to their peers are motivated primarily by
achievement. These consumers include groups referred to as Achievers and Strivers.
Consumers driven by a desire for social or physical activity, variety, and risk taking are
motivated primarily by self-expression. These consumers include the groups known as
Experiences and Makers. Other segments which are there in this are:

▪ Innovator: These consumers are on the leading edge of change, have the highest
incomes, and such high self-esteem and abundant resources that they can
indulge in any or all self-orientations. They are located above the rectangle.
Image is important to them as an expression of taste, independence, and
character. Their consumer choices are directed toward the "finer things in life."

Market Segmentation and Strategic Targeting 5

▪ Thinkers: These consumers are the high-resource group of those who are motivated
by ideals. They are mature, responsible, well-educated professionals. Their
leisure activities center on their homes, but they are well informed about what
goes on in the world and are open to new ideas and social change. They have
high incomes but are practical consumers and rational decision makers.

▪ Believers: These consumers are the low-resource group of those who are motivated
by ideals. They are conservative and predictable consumers who favor American
products and established brands. Their lives are centered on family, mosque,
community, and the nation. They have modest incomes.

▪ Achievers: These consumers are the high-resource group of those who are
motivated by achievement. They are successful work-oriented people who get
their satisfaction from their jobs and families. They are politically conservative
and respect authority and the status quo. They favor established products and
services that show off their success to their peers.

▪ Strivers: These consumers are the low-resource group of those who are motivated
by achievements. They have values very similar to achievers but have fewer
economic, social, and psychological resources. Style is extremely important to
them as they strive to emulate people they admire.

▪ Experiences: These consumers are the high-resource group of those who are
motivated by self-expression. They are the youngest of all the segments, with a
median age of 25. They have a lot of energy, which they pour into physical
exercise and social activities. They are avid consumers, spending heavily on
clothing, fast-foods, music, and other youthful favorites, with particular emphasis
on new products and services.

▪ Makers: These consumers are the low-resource group of those who are motivated by
self-expression. They are practical people who value self-sufficiency. They are
focused on the familiar-family, work, and physical recreation-and have little
interest in the broader world. As consumers, they appreciate practical and
functional products.

▪ Survivors: These consumers have the lowest incomes. They have too few resources
to be included in any consumer self-orientation and are thus located below the
rectangle. They are the oldest of all the segments, with a median age of 61.
Within their limited means, they tend to be brand-loyal consumers.

Market Segmentation and Strategic Targeting 6

 BASES FOR BUSINESS MARKET SEGMENT

Business market can be segmented on the bases consumer market variables but
because of many inherent differences like

 Businesses are few but purchase in bulk

 Evaluate in depth
 Joint decisions are made

Business market might be segmented on the bases of following variables:

 Company Size: what company sizes should we serve?

 Industry: Which industry to serve?

 Purchasing approaches: Purchasing-function organization, Nature of existing

relationships, purchase policies and criteria.

 Situational factors: seasonal trend, urgency: should serve companies needing

quick order deliver, Order: focus on large orders or small.

 Geographic: Regional industrial growth rate, Customer concentration, and

international macroeconomic factors

Market Segmentation and Strategic Targeting 7

 MARKET TARGETING AND STRATEGIC POSITIONING

There was a time when finding the best customers were like throwing darts in the dark.
Target marketing changed all that. Today’s savvy marketers know that finding their best
prospects and customers hinges on well thought out targeted marketing strategies.

Defining a target market requires market segmentation, the process of pulling apart the
entire market as a whole and separating it into manageable, disparate units based on
demographics.

Target market is a business term meaning the market segment to which a particular
good or service is marketed. It is mainly defined by age, gender, geography, socio-
economic grouping, or any other combination of demographics. It is generally studied
and mapped by an organization through lists and reports containing demographic
information that may have an effect on the marketing of key products or services.

Target Marketing involves breaking a market into segments and then concentrating your
marketing efforts on one or a few key segments.

Target marketing can be the key to a small business’s success. The beauty of target
marketing is that it makes the promotion, pricing and distribution of your products and/or
services easier and more cost-effective. Target marketing provides a focus to all of your
marketing activities.

Market Segmentation and Strategic Targeting 8

Market targeting simply means choosing one’s target market. It needs to be clarified at
the onset that marketing targeting is not synonymous with market.

Through segmentation, a firm divides the market into many segments. But all these
segments need not form its target market. Target market signifies only those segments
that it wants to adopt as its market. A selection is thus involved in it. In choosing target
market, a firm basically carries out an evaluation of the various segments and selects
those segments that are most appropriate to it. As we know that the segments must be
relevant, accessible, sizable and profitable.

The evaluation of the different segments has to be actually based on these criteria and
only on the basis of such an evaluation should the target segments be selected.

Positioning involves implementing our targeting. For example, Apple Computer has
chosen to position itself as a maker of user-friendly computers. Thus, Apple has done a
lot through its advertising to promote itself.

Market Segmentation and Strategic Targeting 9

They iterate that any brand is valued by the perception it carries in the prospect or
customer's mind. Each brand has thus to be 'Positioned' in a particular class or
segment.

Example: Mercedes is positioned for luxury segment, Volvo is positioned for safety. The
position of a product is the sum of those attributes normally ascribed to it by the
consumers – its standing, its quality, the type of people who use it, its strengths, its
weaknesses, any other unusual or memorable characteristics it may possess, its price
and the value it represents.

Although there are different definitions of Positioning, probably the most common is: “A
product's position is how potential buyers see the product", and is expressed relative to
the position of competitors. Positioning is a platform for the brand. It facilitates the brand
to get through to the mind of the target consumer .The position of the brand has thus to
be carefully maintained and managed.

Example: When Marlboro cut down its prices, its sales dropped immediately, as it
began being associated with the generic segment. Watches like Rolex are positioned as
luxury segment watches, thus they being one of the most expensive have become a
symbol for accomplishment in life. If Rolex reduces its prices, it loses its perceived
image and hence is in danger of losing its customers.

Market Segmentation and Strategic Targeting 10

Selecting the Market to be Segmented
Market segmentation may occur at any of the product –market levels . Genric level
segmentation by segmenting supermarket buyers based on sjopper types eg.limited
shopping time .

Product type segmentation is shown by the diffrences in price, quality and features of
shving equipment.Product variant segmentation considers the segments within a
category such as electric razors.

Market Segmentation and Strategic Targeting 11

An important consideration in defining the market to be segmented is estimating the
variation in buyers needs and requirements at the different product market –levels and
identifying the types of buyers included in the market.

Example-the atlas air example ,management definede the product market to be

segmented as air freight services for business organizations between major global
airports.Segmenting the genric product market for air freight services was too broad in
scope.

In contemporary markets, boundaries and definations can change rapidly, underlining

the strategicc importance of market defination and selection , and the need for frequent
reevaluation.

Identifying market segments

After the market to be segmented is defined, one or more variables are selected to
identify segments. For example, United States Automobile Association (USAA)
segments by type of employment. Although unknown to many people, USSA has built a
successful business serving the automobile insurance needs of U.S. military personnel
located throughout the world. USA has close relationship with its 2.6 million members
using powerful information technology. The USAA service representative has immediate
access to the clients consolidated file, and the one to one service encounter is highly
personalized. USAA achieves a 98% retention rate in the market chosen segment.

Forming Segments

The credit card division of American Express (AMEX) identifies market segments based
on purchase behavior. One group of cardholders pays the annual fee for the card but
rarely uses it. This group of zero spenders is made up of:

· Those who cannot afford much discretionary spending.

· Those who use cash or competitors cards.

Market Segmentation and Strategic Targeting 12

AMEX’s objective is to identify the second group of potential buyers because they offer
card usage opportunities and may potentially give up their card. AMEX uses self-
selecting incentive offers (e.g. two free airline tickets for heavy card use over six
months) to identify the valuable nonuser cardholders. While this segmentation approach
is expensive, it costs less than obtaining a new customer to replace one who leaves
AMEX. It also does not require using expensive marketing research to identify card
holders with the ability (financially) to use their cards.

Requirements for Segmentations

An important question is deciding if it’s worthwhile to segment a product-market. E.g.

Gillette has successfully adopted a “one product for all” strategy in the razor market.
While in many instances segmentation is a sound strategy, its feasibility and value need
to be evaluated. Nonetheless, the growing fragmentation of mature mass markets into
segments with different needs and responsiveness to marketing actions may mandate
segmentation strategy. Correspondingly, the growth of narrowcast media – cable
television & radio; specialized magazines; cell-phone and personal digital assistant
screens; and the internet – makes major changes in the costs of reaching market
segments. Segment targets that could not traditionally be reached with communications
and product variants to match their needs at reasonable costs to the seller may now be
accessible targets.
It is important to decide if it is worthwhile to segment a product-market. Five criteria
useful for evaluating a potential segmentation strategy are:

1. Response Differences

Determining differences in the responsiveness of the buyers in the product-market to

positioning strategies is a key segment identification requirement. Suppose the
customers in a product-market are placed into four groups, each a potential
segment, using a variable such as income. If each group responds (e.g. amount of
purchase) in the same way as all other groups to a marketing mix strategy, then the
four groups are not market segments. If segments actually exist in this illustration,
there must be, there must be differences in the responsiveness of the groups to
marketing actions, such as pricing, product features, and promotion.

2. Identifiable segments

It must be possible to identify the customer groups that exhibit response differences,
and sometimes finding the correct groups may be difficult. E.g. even though
variations in the amount of purchase by customers occur in a market, it may not be
possible to identify which people correspond to the different response groups in the
market. While it is usually feasible to find descriptive differences among the buyers
in a product-market, these variations must be matched to response differences.

Market Segmentation and Strategic Targeting 13

 Recall AMEX’s approach to identifying cardholders with buying power who use the
card infrequently. Incentives are used to attract nonuser card holders with buying
power.

3. Actionable Segments

A business must be able to aim a marketing program strategy at each segment

selected as a market target. As discussed earlier, especially magazines offer one
means of selective targeting. Ideally, the marketing effort should focus on the
segment of interest and not be wasted on non segment buyers cable television,
magazine, and radio media are able o provide coverage of narrowly defined market
segments. The internet offers great potential for direct marketing channels to reach
specialized segments. Similarly, databases offer much focused access to buyers.

4. Cost/Benefits of Segmentation

Segmentation must be financially attractive in terms of revenues generated and

costs incurred. It is important to evaluate the benefits of segmentation. While
segmentation may cost more in terms of research and added marketing expenses, it
should also generate more sales and higher margins. The objective is to use a
segmentation approach that offers a favorable revenue and cost combination.

5. Stability over Time

Finally, the segments must show adequate stability over time so that the firm’s
marketing efforts will have enough time to produce favorable results. If buyers’
needs change too fast, a group with similar response patterns at one point may
display quite different patterns several months later. The time period may be too
short to justify using a segmentation strategy. However, this question is also one
where the impact of narrowcast media and advanced production technology may
drastically reduce the time over which a segment target needs to be stable for it to
be an attractive target.

Product Differentiation And Market Segmentation

The difference between product differentiation and market segmentation is not always
clear. Product differentiation occurs when a product offering is perceived by the buyer
as different from the competition on any physical or non physical product
characteristics, including price. Using a product differentiation strategy, a firm may target
an entire market or one (or more) segments. Competing firms may differentiate their
product offerings in trying to gain competitive advantage with the same group of

Market Segmentation and Strategic Targeting 14

targeted buyers.

Approaches to segment identification

Segments are formed by:

1. Grouping customers using descriptive characteristics and then comparing response

differences across the groups.
2. Forming groups based on response differences and determining if the groups can be
identified based on differences in their characteristics.

Customer group identification

After the product-market of interest is defined, promising segments maybe identified,

using management judgment in combination with analysis of available information
and/or marketing research studies. Consider, for example, hotel lodging services which
shows the ways to segment the hotel lodging product-market.
Using these variables, segments are formed by:

1. Management judgment and experience

2. Supporting statistical analysis

The objective is to find differences in responsiveness among the customer groups.

We look at some of the customer grouping methods to show how segments are formed.

Experience and Available Information

Managements knowledge of customer needs is often guide to segmentation. For

example, both experience and analysis of published information are often helpful in
segmenting business markets. Business segment variables include type of industry,
size of purchase, and product application. Company records often contain information
for analyzing the existing customer base. Published data such as industry mailing lists
can be used to identify potential market segments. These groups are then analyzed to
determine if they display different levels of response.
Finer Segmentation Strategies

A combination of factors may help a company utilize finer segmentation strategies.

Technology may be available to produce customized product offerings. Furthermore,
highly sophisticated database for accessing buyers can be used and buyers escalating
preferences for unique products encourage consideration of increasingly smaller
segments. In some situations an individual buyer may comprise a market segment.
Thus an important segmentation issue is deciding how small the segment should be.

Market Segmentation and Strategic Targeting 15

Logic of Finer Segments
Several factors working together point to benefits of considering very small segment in
some cases, segment of one. These include:

 The capabilities of companies to offer cost effective customized offerings.

 The desire of buyers for highly customized products and,

 The organizational advantages of close customer relationships.

Micro Segmentation: this form of segmentation seeks to identify narrowly defined

segment using one or more of the previously discuss segmentation variables. It differs
from more aggregate segment formation in that micro segmentation result in a large
number of very small segments. Each segment of interest to the organization receives a
marketing mix design to meet the value requirement of the segment.

Mass Customizing: providing customized products at prices not much higher than
mass produce item is feasible using mass customization concepts and method.
Achieving mass customization objectives is possible through computer aided design
and manufacturing software, flexible manufacturing techniques, and flexible supply
system.
There are too forms of mass customization. One employs standardized components but
configuring the components to achieve customized product offering. E.g.: using
standardized paint component retail store are able to create customized color shades
by mixing the components. The other mass customization approach employees of
flexible process. Through effective system design, variety can be created at very low
cost. E.g.: Casio’s customization approach enables the companies to offer 5000
different watches.

Variety Seeking Strategies: this product strategy is intended to offer buyers

opportunities to vary their choices in contrast to making unique choices. The logic is that
the buyers who are offered alternatives may increase their total purchases of a brand.
Mass customization method also enables company to offer an expensive variety at
relatively low prices, thus gaining the advantages of customized and variety offering.

Finer Segmentation Issues: while the benefit of customization are apparent, there are
several issues that are need to be examine when considering finer segmentation

Market Segmentation and Strategic Targeting 16

strategies.

 How much variety should be offer to buyers?

 What attributes are important in buyers choices and to what extend to they need
to be varied?

 Will too much variety has negative effects on buyers?

 Is it possible that buyers will become confused and frustrated when offered too
many choices?

 Is it possible to increase buyer’s desire for variety creating a competitive

advantage?

 What processes should be learned to about customer preferences?

Selecting The Segmentation Strategy

Deciding How To Segment

The choice of a segmentation method depends on such factors as the

 Maturity of market

Market Segmentation and Strategic Targeting 17

  The competitive structure
The organizations experience in the market
The more comprehensive the segmentation process, the higher the cost of segment
identification will be reaching the highest level when field research studies are involved
and finer segmentation strategies are considered. It is important to maximize the
available knowledge about the product market. An essential first step in segmentation is
analyzing the existing customer base to identify groups of buyers with different
response behavior. Developing a view of how to segment the market by managers may
be helpful. In some instances this information will provide a sufficient basis for segment
formation.
The five segmentation criteria discussed earlier helped to evaluate potential segments.
Deciding if the criteria are satisfied rests with management after examining response
differences among the segments. The segmentation plan should satisfy the
responsiveness criterion plus the others criteria

 End users are identifiable

 They’re accessible via marketing program
 The segments is economically viable
 The segment is stable over time

The latter criterion may be less of an issue with mass customization since changes can
be accommodated.

It is useful to consider the tradeoff between the cost of developing a better

segmentation scheme and the benefits gained.eg. Instead of one variable being issued
to segment, a combination of 2 or 3 variables might be used. The cost of a more
insightful segmentation scheme includes the analysis time and complexity of strategy
development. The potential benefits include better determination of response
differences which enable the design of more effective marketing mixed strategies.
Importantly segmentation should not be viewed as static but as dynamic as dell learned
more about the pc market, the segmentation approach involved and developed.

CASE: HINDUSTAN LEVER LIMITED

Hindustan Lever Ltd is a leading FMCG conglomerated in India whose success in

management policies and strategies are taken as an example by many Indian
companies and emulated. The decade of 1980 must have been a memorable one for
Hindustan Levers Ltd (HLL) .For, in a typical David and Goliath war, the giant and an
undisputed market leader in consumer non-durables in India suffered a humiliating
defeat at the hands of a new and small firm, Nirma Chemicals .

Market Segmentation and Strategic Targeting 18

Nirma Washing Powder became a national brand soon after 1982, when the Indian
Television went commercial and started color telecast. The product immediately caught
the fancy of the middle-income customers; who was finding it difficult to make both ends
meet with a limited monthly income. Nirma was the lowest priced branded washing
powder available in the grocery and co-operative stores .The middle class housewife
was more than satisfied, as she could now choose a lower priced washing powder
rather than the high priced Surf detergent powder from HLL.

Nirma also had an impact on upper middle income and higher income families where it
was used for washing their inexpensive clothes and linen. Initially, HLL responded by
launching sales promotion campaigns on Surf—by offering a bucket at subsidized price
for every 1 kg of Surf, or by trading premium brands of toilet soap with every kilogram of
Surf. These schemes, however, could not stop the decline in the popularity of Surf. HLL
then launched a head-on attack on Nirma .Without naming it (though it was obvious)
they came up with an advertising commercial comparing 1 kg of surf with 1 kg of low-
priced yellow washing powder and showed that Surf washed more clothes than the low-
priced yellow washing powder—and hence it was economical to buy Surf.

The commercial did not bring in any substantial results. It was at this time (around 1984)
that HLL decided to take a fresh look at the market. Research was conducted
throughout the country which revealed that different income groups of the consumers
had varying expectations from detergents and washing powder, it also showed that
different colors of washing or detergent powders were associated with different types of
fabrics.

For example, yellow colored washing or detergent powders were mainly bought by
middle and lower middle or lower income group people. They washed all their fabrics
and associated whiteness in clothes to a yellow colored powder .Also, middle class
families used the blue colored Rin bar or the white colored Lux flakes for washing their
expensive clothes. The research further indicated that blue or white colored detergent
powders were bought by middle to higher income group people, and these colors were
also associated with washing clothes clean.

In fact, the housewife was known to add “blue to her laundry to give that extra
whiteness to the white clothes. Interestingly, green was also a color that was perceived
to clean extra-dirty clothes.

Armed with this research on color perceptions and income groups, HLL launched the
following :

 Sunlight (yellow)
 Wheel(green)
 Rin (blue)
 Surf Ultra(white)

Market Segmentation and Strategic Targeting 19

Detergents powders for different market segments. This strategy of segmenting the
markets, understanding its needs and then evolving marketing mix to suit separate
segment needs helped HLL win back its lost market.

In fact Nirma made all other consumer product companies sit up and take a fresh look
at their markets It announced ,for many, a beginning of an era of low priced products for
a highly price sensitive Indian Market , and, to others ,an end of a mass marketing era.

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Market Segmentation and Strategic Targeting 20

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Market Segmentation and Strategic Targeting 22