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CONSUMER BEHAVIOUR

MARKET SEGMENTATION

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It is a method of dividing the largemarket into smaller grouping of

consumers or organizations inwhich each segment has acommon characteristics

Market segmentation consists oftaking the total heterogeneousmarket for a product and dividinginto several sub markets or

segments ,each of which tend to

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Criteria For MarketSegmentation

Identity

Accessibility

Responsiveness

Size

Measurability

Nature of demand

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Bases For Segmentation

Geographic segmentation

Demographic segmentation

psychological segmentation

Psychographic segmentation

Socio -cultural segmentation

Use related segmentation

Use situation segmentation Benefit segmentation

Hybrid segmentation

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Geographic segmentation

Market is divided by location

Region

City size density of area

climate

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Demographic segmentation

Demography refers to the vital andmeasurable statistics of population

It helps to locate the target market Age Sex

Marital status

Income Education

Occupation

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Psychological segmentation

Motivation

personality

PerceptionLearning involvement

Attitudes

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Psychographic Segmentation

Life style segmentation

Economy minded

Couch potatoes Outdoor enthusiastic

Status seekers

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Cultures

Religion

Sub Culture Social Class

Family Life cycle

Socio Cultural segmentation

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Use related segmentation

Usage rate

Awareness status

Brand loyalty

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Use - situation segmentation

Time

Objective

Location Person

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Benefit segmentation

Convenience

social acceptance

long lasting economy

value for money

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Hybrid segmentation

Demographic/ psychographic

Geodemographics

SRI VALS

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Selecting the marketsegment

single segment concentration selective specialization

Full Coverage

Market specialization

product specialization

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Segmentation process

Analyze the needs of theconsumer s

Analyze the characteristics of theconsumers

Disaggregate consumer intosuitable segments

Formulate different marketing mixfor different segments

Feedback from various segments

Select the higher potential segment

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Advantages of segmentation

Identify potential customers

pay proper attention to particular

area Formulate marketing programs

select channels of distribution

Design marketing mix

Sales promotion

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Segmentation of markets forindustrial goods

Geographical area

Product related factors

type of buying situation

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Segmentation bases forinstitutional market

customer size

Purchasing methods and policies

Geographical location

kind of organization