Market Segmentation

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Transcript of Market Segmentation

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Mahesh Deshkmukh --- 59

Pooja Krishnan --- 33

Vijayalaxmi Naickar --- 64

Amit Gupta --- 01

Prabir Ghosh --- 34

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Kellogg's was founded as the Battle Creek Toasted Corn Flake Company on February 19, 1906, by Will Keith Kellogg with his brother John Harvey Kellogg .

Company was renamed as Kellogg company in 1922.

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Vision and Mission statements define our focus upon sustainable growth, our broadened definition of social responsibility and the true strength of our company – our people and our brands.

In 1940, Kellogg provided packaged K-rations for the U.S. armed forces .

1950 company introduced : Kellogg's® Corn Pops®, Kellogg's Frosted Flakes®, Kellogg's® Honey Smacks™, Kellogg's® Cocoa Krispies™ and Kellogg's® Special K® products.

In the Year 2000 Kellogg benefited from the acquisition of health foods leader Kashi Company

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In 2006, Kellogg Company celebrated its 100th Anniversary.

In the year 2009 with sales of nearly $13 billion, Kellogg Company is the world’s leading producer of cereal.

Kellogg’s India came as the 100% subsidiary of Kellogg’s company .

Kellogg’s India Head Quarters is located in Mumbai, Powai Hiranandani.

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Popular breakfast cereal originally manufactured by Kellogg's

A patent for the product was filed on May 31, 1895, and issued on April 14, 1896, under the name Granose.

In 1894 Dr. John Harvey Kellogg was superintendent of a famous hospital and health spa in Battle Creek, Michigan.

His younger brother, Will Keith Kellogg, was the business manager.

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The hospital stressed healthful living and kept its patients on a diet that eliminated caffeine, meat, alcohol, and tobacco.

The brothers invented many foods that were made from grains , including a coffee substitute .

One day while preparing the wheat dough , they ended up in making thin flake.

The brothers baked the flakes and were delighted with their new invention.

They had accidentally invented a whole new industry of corn flakes.

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It wasn’t until 1906 that Kellogg’s® Corn Flakes were made available to the general public. In 1909, the very first cereal premium was offered: The Funny Jungle land Moving Pictures Booklet available with the purchase of 2 packages.

In 1910 Kellogg's® Bran Flakes and All Bran® cereals were introduced

After having success in the U.S. market, Kellogg opened its first foreign cereal facility in 1914 in Canada.

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In the 1920s Kellogg continued to expand into new markets, exporting cereal to England

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Market segmentation segments your potential customers from the whole market by considering demographic, psychographic, and behavioral characteristics that distinguish your potential customers from everyone else.

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Initial trend followed for marketing was Mass Marketing.

Mass Marketing was engaged in mass production, distribution and promotion.

This created several problems which lead to micro marketing.

Market segmentation is known as Micromarketing.

Segmentation divides the market into different levels so that it can capture the market in efficient manner.

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Types of Market Segmentation are:

Segment Marketing.

Niche Marketing.

Local Marketing.

Individual Marketing.

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A Market segment consists of a group of customers who share similar sets of needs and wants.

Segment marketing offers key benefits over mass marketing.

Benefits like better design, price, disclose and deliver the product or service in a better way.

For Example, Automobile companies offer different versions of the same model with different features.

Airlines offering Business Class and Economic Class.

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Niche marketing divides a segment into sub segments.

Customers have distinct set of needs.For Example, Crack Ointment from Paras

Pharmaceuticals is an example of Niche focus, where company focus on females.

TV channels like Aastha focus on religion, sports channels focus on sports.

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Local Marketing leads to marketing programs tailored to needs & wants of local customer groups.

Local Marketing reflects a growing trend called grassroots marketing.

Banks have specialized branches that focus on corporate customers.

Movies are released are different marketing languages for different group of peoples.

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The ultimate level of segmentation leads to “segments to one”, “customized marketing” or “one-to-one marketing”.

Companies talk more on Individual initiative in determining what and how to you.

Consumers log onto the Internet and purchase the product or services as per their requirement.

Asian Paints allows consumers to choose the colors by mixing desired colors of their choice.

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Different bases for Market Segmentation are:

Geographic Segmentation.

Demographic Segmentation.

Psychographic Segmentation.

Behavioral Segmentation.

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Geographic segmentation segments the market into different geographical units such as: Nation States Region Countries Cities Neighborhoods

One of major geographic segmentation variables for marketers is the division of markets into rural & urban areas.

Parameters that differ from rural & urban markets are literacy levels, income, spending power and availability of infrastructure.

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In demographic segmentation market is divided into groups on the basis of variables such as :AgeFamily sizeGender IncomeReligion & social classOccupation

It is often associated with consumer needs & wants.

It is easy to measure.

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In Psychographic Segmentation the market is divided into groups on basis of:Psychological/ Personal traits.LifestyleValues

Buyers with same demographic group can exhibit very different psychographic profiles.

Values & Lifestyles can affect product & brand choice of customers.

Religion has significant influence on values & lifestyles.

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In Behavioral Segmentation the market is divided into groups on basis of:Knowledge of ProductAttitude towards ProductOccasionsUser StatusUsage Rate

Individual consumers have different behavioral aspects over different products & services.

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IndividualsShop Owners

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Geographic Segmentation:CitiesRural Areas

Demographic Variables:Family SizeIncomeAge GroupGenderOccupation

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Psychographic Variables:ValuesLifestyle

Behavioral Variables:Knowledge of Product.Attitude towards product.Usage Rate

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