Marketing Segmentation

MARKETING SEGMENTATION

DEFINITION 

“MARKETING SEGMENTATION IS THE SUB -DEVIDING OF A MARKET INTO HOMOGENEOUS SUBSET OF CUSTOMERS, WHERE ANY SUBSET MAY BE CONCEIVABLY BE SELECTED ON A MARKET TARGET TO BE REACHED WITH A DISTINCT MARKETING MIX”.

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-PHILIP KOTLER

IMPORTANCE BEST UTILISATION OF AVAILABLE RESOURCES TO DISCOVER MARKETING OPPORTUNITY HELPFUL IN COMPETITION EVALUATION OF MARKETING ACTIVITIES TO PREPARE SOUND AND EFFECTIVE

MARKETING PROGRAMME INCREASE IN SALES VOLUME 

METHODS EVERY INDIVIDUAL BUYER AS A SEPARATE

GROUPS    BROAD GROUP OF BUYERS

BASES FOR MARKET SEGMENTATION BASES FOR CONSUMER PRODUCTS     BASES FOR INDUSTRIAL PRODUCTS 

SOCIO ECONOMIC FACTORS 

SEX EDUCATIONAL STANDARD INCOME SIZE OF FAMILY AGE CASTE OR RELIGION BUSINESS OR PROFESSION  

GEOGRAPHICAL FACTORS   PSYCHOGRAPHIC FACTORS   CONSUMER BEHAVIOUR FACTORS

BASES FOR INDUSTRIAL PRODUCTS KINDS OF BUSINESS

  THE SIZE OF THE BUYERS   GEOGRAPHICAL LOCATION OF THE BUYERS

  PURCHASING PROCEDURES OF THE BUYER 