Market segmentaion and basis for market segmentation

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Transcript of Market segmentaion and basis for market segmentation

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Market Segmentaion

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Presentation Prepared By

Saddam Hussain

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Define Market Segmentation

Market: In marketing the term market refers to the group of consumers or organizations that interested in the product, has the resource to purchase the product and has a willing too.

E.g vegitable market Cosmetics market Clothes market

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Segmentation

Segmentation mean dividing and subdividing a larger market into a group of smaller markets according the needs and wants of customers.

The purpose of segmentation is to enables companies to target different customers and consumers who have common needs and priorities and then designing and implementing strategies to target them.

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Basis for Market

segmentation

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Niche MarketingLocal Marketinggeographic Seg Demographic SegPsychographic seg

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Niche Marketing

Niche marketing is a focused targetable part of the market concentrating on small but specific and well defined segment of population.

Niches do not exist but are created by identifying needs, wants and requiremets that are being addressed poorly or not at all by any other firm.

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It is a small market segment

E.g Ptv sports Stars ports Star criket ESPN sports

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Other Examples!

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Social Media advertising

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Listening to Customer

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Cat wearing advertisement

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Local Marketing

Local Marketing— also referred

to as local store marketing or

neighborhood marketing—specifically targets the community around a physical store or restaurant.

Promotional messages are directed to the local population, rather than the mass market.

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People like to shop and eat near their homes; it saves time and is more convenient.

Residents create their own “mental maps” of the surrounding area, with favorite restaurants and particular stores quickly and easily remembered.

They develop shopping and eating habits based upon these maps, engaging in a great deal of repeat business.

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Geographic segmentation Geographic segmentation is used by companies

that sell products or service specific to a certain community, state, region, country or group of countries. Local businesses usually get no benefit in paying for national or international advertising. Companies that operate nationally can often save by delivering the same marketing messages to a national audience through one television, radio, magazine or newspaper ad. Global businesses typically decide whether to maintain a universal message or tailor messages to each country's marketplace.

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Geographic segmentation is a common strategy when you serve customers in a particular area, or when your broad target audience has different preferences based on where they are located. This marketing approach is common for small businesses that serve a wide demographic customer base in a local or regional territory.

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There are several ways that a market can be geographically segmented. You can divide your market by geographical areas, such as by city, county, state, region (such as West Coast), country, or international region (such as Asia). You can also divide the market into rural, suburban, and urban market segments. You can segment a market by climate or total population in each area.

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Demographic segmentation

Demographic market segmentation is one of the most common approaches to segmenting markets. With this strategy, a company simply divides the larger market into groups based on several defined traits. Age, race, gender, marital status, occupation, education and income are among the commonly considered demographics segmentation traits. As a simple example of usage, a company that sells feminine hygiene products will include "female" in its description of its primary market segment

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Examples of demo. Seg.

On the basis of . Gender Income level Age Occupation Marital status

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Psychographic segmentation

Psychographic segmentation is dividing your market based upon consumer personality traits, values, attitudes, interests and lifestyles. Segmentation will allow you to better develop and market your products because there will be a more precise match between the product and each segment's needs and wants.

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On the basis of. Social class Lifestyle Personality characteristics

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