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Segmentation

Segmentation involves dividing the total market into subsets with common characteristics. There are several bases for segmentation, including geographic, demographic, socio-economic, and psychographic factors. Targeting involves selecting specific segments to target with a tailored marketing mix. Positioning is creating an image in consumers' minds so they perceive a brand differently than competitors.

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54 views6 pages

Segmentation

Segmentation involves dividing the total market into subsets with common characteristics. There are several bases for segmentation, including geographic, demographic, socio-economic, and psychographic factors. Targeting involves selecting specific segments to target with a tailored marketing mix. Positioning is creating an image in consumers' minds so they perceive a brand differently than competitors.

Uploaded by

Gurujeet Singh
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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STP

Segmentation
Targeting
Positioning
Segmentation
Process of subdividing a total market into different subsets or groups.
 Where the marketer may select one or more segments.
 To be reached with an appropriate marketing mix.

Geographic Segmentation
 Subdividing the whole market into different geographical units which can be
further sub-divided into smaller units.
 A national marketer may take whole nation as his market. For example-in the
detergent market Hindustan Levers and Procter and Gamble are all national
marketers in India.
 A multinational company may divide the global market on the basis of
continents. Like Pepsi and Coca-cola.

Demographic Segmentation
 Subdividing the market in terms of demographic features of a country or a
region.
 Variables that may be considered are age, gender, marital status, family size,
etc.
 Demographic data is essential for estimating the size of the target market.
Socio-economic segmentation
 Variables that may considered for market segmentation are Income,
occupation, education, religion, social classes, etc.
 This segmentation is used for durable products such as automobiles, PCs, etc.

Psychographic segmentation
 Sub division of different groups on the basis of personality, life style and values.
 Marketers of cosmetics, textiles, fast food providers etc. must understand the
life style of the target market.
 Automobile manufacturers must consider different personality traits in dividing
the market.

Family health and welfare. Traditionally good for health. Eg-Neem, Dabur.
\

Consumers’ perceived benefits of Two-


wheelers

Relationship seekers: buyers who want to


develop long term relationships with their
suppliers or retailers.
Loyal buyers of particular brand: buyers
who seek a particular brand among
competing brands.
Measurable
Substantial
Accessible
Differentiable
Actionable

Once the firm has segmented the


total market ,it should select the
target market segment or
segments for marketing.
Investing in a particular segment
should be sensible in terms of
company’s mission, objectives,
skills and resources.
Luxury car segment (very expensive)

Marketing Mix

Single
marketing mix
Positioning of a product or service
is creating an “image” in the
consumers’ mind.
Consumers generally buy “images”
rather than actual product.
Marketers mostly use advertising
as a tool to build up brand or
corporate “image”.

Positioning strategies

Positioning strategies
Identify the strategy group
Understand the consumers’ perception of competitive brands of strategy group
Determine consumers’ needs and aspirations
Select the best one for advertising campaign

Lower income classes

A sample of respondents can be asked to select the best among the alternatives and the
same can be used for the advertising campaign

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