Cb Segmentation...shahid Elims

CONSUMER BEHAVIOUR

MARKET SEGMENTATION

 It is a method of dividing the large market into smaller grouping of consumers or organizations in which each segment has a common characteristics  Market segmentation consists of taking the total heterogeneous market for a product and dividing into several sub markets or segments ,each of which tend to

Criteria For Market Segmentation      

Identity Accessibility Responsiveness Size Measurability Nature of demand

Bases For Segmentation         

Geographic segmentation Demographic segmentation psychological segmentation Psychographic segmentation Socio -cultural segmentation Use related segmentation Use situation segmentation Benefit segmentation Hybrid segmentation

Geographic

segmentation

Market is divided by location  Region  City size  density of area  climate

Demographic segmentation  Demography refers to the vital and measurable statistics of population It helps to locate the target market      

Age Sex Marital status Income Education Occupation

Psychological segmentation Motivation personality Perception Learning involvement Attitudes

Psychographic Segmentation Life style segmentation  Economy minded  Couch potatoes  Outdoor enthusiastic  Status seekers

Socio Cultural segmentation     

Cultures Religion Sub Culture Social Class Family Life cycle

Use related segmentation  Usage rate  Awareness status  Brand loyalty

Use - situation segmentation    

Time Objective Location Person

Benefit segmentation     

Convenience social acceptance long lasting economy value for money

Hybrid segmentation  Demographic/ psychographic  Geodemographics  SRI VALS

Selecting the market segment single segment concentration

selective specialization

Full Coverage Market specialization product specialization

Segmentation process  Analyze the needs of the consumer s  Analyze the characteristics of the consumers  Disaggregate consumer into suitable segments  Formulate different marketing mix for different segments  Feedback from various segments  Select the higher potential segment

Advantages of segmentation  Identify potential customers  pay proper attention to particular area  Formulate marketing programs  select channels of distribution  Design marketing mix  Sales promotion

Segmentation of markets for industrial goods  Geographical area  Product related factors  type of buying situation

Segmentation bases for institutional market    

customer size Purchasing methods and policies Geographical location kind of organization