Express measurement of market volatility using ergodicity concept
MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is...
-
Upload
kaitlynn-turnham -
Category
Documents
-
view
213 -
download
0
Transcript of MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is...
![Page 1: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/1.jpg)
MARKET SEGMENTATION
BY- SUNIT KUMAR MISHRA
![Page 2: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/2.jpg)
• CONCEPT AND DEFINITION
The concept of market segment is based on the fact that the market of commodities are not homogeneous but they are heterogeneous. Market represent a group of customer having common characteristics but two customer are never common in their nature, habits, hobbies income and purchasing techniques.
![Page 3: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/3.jpg)
• According to Philip kotler , “ Market segmentation is sub-dividing a market into distinct and homogeneous subgroups of customers, where any group can conceivably be selected as a target market to be met with distinct marketing mix.”
![Page 4: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/4.jpg)
• Market Segmentation is a method of “dividing a market (Large) into smaller groupings of consumers or organisations in which each segment has a common characteristic such as needs or behaviour.”
![Page 5: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/5.jpg)
Henry Ford epitomized this strategy when he offered the Model- T Ford in one colour , black.
![Page 6: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/6.jpg)
LEVELS OF MARKET SEGMENTATION
![Page 7: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/7.jpg)
1. SEGMENT MARKETING Consists of a group of customers who share a similar set of needs and wants.
Identifiable Group with in a Market with Similar
• Wants• Purchasing Power• Geographical Location• Buying Attitudes
![Page 8: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/8.jpg)
FLEXIBLE MARKET OFFERING
• Even in segments 100 % needs are not same – consists of two parts
1.Naked Solution :- products and services that all members of the segment values.
2.Discretionary options :- that some segment members value. Each option might carry an additional charge.
Example: Automobile industry – basic model is same but for A.C , power steering, power window buyer
![Page 9: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/9.jpg)
has to pay extra price. Delta Airlines offers all economy
passengers a seat and soft drinks. It charges economy passengers extra for alcoholic beverages.
![Page 10: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/10.jpg)
Market Segments can be defined in many different ways. One way to carve up a market is to identify Preference segments
Suppose ice cream buyers are asked how much they value sweetness and creaminess as two product attributes. Three different patterns can emerge.
![Page 11: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/11.jpg)
Homogeneous preference : – where all the consumer have roughly the same preferences.– We would predict that existing brand would be similar and
cluster around the middle of the scale in both sweetness and creaminess.
Diffused preference :– consumers vary greatly in their preferences
Clustered preference :
![Page 12: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/12.jpg)
creaminess
sweetness
Homogeneous Preference -no natural segments -all buyers have same preference
![Page 13: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/13.jpg)
creaminess
sweetness
Diffused Preference -no pattern (…or poor research) -take center position
![Page 14: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/14.jpg)
creaminess
sweetness
Clustered Preference -natural segments -increases as number of competitors increases
![Page 15: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/15.jpg)
2. NICHE MARKETING Group of customers seeking a distinctive mix of benefits who are
ready to pay extra premium. Niche = segment sub – segments
Eg. Washing detergents hard & gentle washes . Surf excel for tough stains ( hard on clothes) & Ezee from Godrej for delicate clothes.
--- Astha , Sanskar , Q TV – focus on religion & spiritualism. DISTINCT NEEDS PAY PREMIUM SPECIALIZATION LESS COMPETITION POTENTIAL
![Page 16: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/16.jpg)
ROLLS ROYCE
![Page 17: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/17.jpg)
3. LOCAL MARKETING
• Marketing programs tailored to the needs & wants of local customer groups in trading areas, neighborhoods , etc.
• this trend is called grass roots marketing.
Ex. – Spiderman 3 was released in 5 different language in India including bhojpuri.
ChitlePune sarees
Kashmiri silk
![Page 18: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/18.jpg)
4. INDIVIDUAL MARKETING
• Ultimate segmentation – segments of 1 or customized marketing or one to one marketing.
• Customerization – empower the consumers to design the product or service offering of their choice.
• Ex. Paint companies have started doing this- Asian Paint , Nerolac , Berger Paints
• Arvind mills launched Ruff’n Tuff Jeans, branded ready – to – stitch
![Page 19: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/19.jpg)
GEOGRAPHIC SEGMENTATION
Divide the market into different group based on :• Region – South India , North , Western Region, East• City – metro cities, cities with population more than 1
million• World• Density• Climate• States
Ex.- Mcdonalds globally, sell burgers aimed at local markets, for example, burgers are made from lamb in India rather then beef because of religious issues. In Mexico more chilli sauce is added and so on.
![Page 20: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/20.jpg)
DEMOGRAPHIC SEGMENTATION
![Page 21: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/21.jpg)
As people age their needs and wants change, some organisations develop specific products aimed at particular age groups for example nappies for babies, toys for children, clothes for teenagers and so on.
Gender segmentation is commonly used within the cosmetics, clothing and magazine industry.
In the UK we have also seen the introduction of Maxim, (www.maxim-magazine.co.uk) a male lifestyle magazine covering male fashion, films, cars, sports and technology. \
![Page 22: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/22.jpg)
• • Income segmentation is another strategy used by
many organisations. Stores like Harrods, Harvey Nicohals are predominantly aimed at the affluent market. Daewoo aim their vehicles at price sensitive buyers who require a bundle of benefits for the price. In today's globally competitive environment brands are specifically developed and positioned within particular income segments inorder to maximise turnover.
• Products and services are also aimed at different lifecycle segments. Holidays are developed for families, the 18-30's singles, and for those in their 50's.
![Page 23: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/23.jpg)
PSYCHOGRAPHIC SEGMENTATION
![Page 24: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/24.jpg)
• Lifestyle groups Yuppie Associations• Mobile• High valued house/flat• Good Salary• Young branded car. Third Agers Associations.• 50's• Retired early from profession.• Time to spare• Adventure Seekers
![Page 25: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/25.jpg)
BEHAVIOURAL SEGMENTATION
![Page 26: MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA. CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are.](https://reader036.fdocuments.us/reader036/viewer/2022062712/56649cae5503460f94971626/html5/thumbnails/26.jpg)
OCCASIONS - Archies and Hallmark cards, Monaco at tea time.
BENEFITS – Shampoo for hair conditioning, cleaning , hair fall defence dandruff control
USER STATUS- light – medium – heavy user
LOYALTY STATUS- hardcore loyal , split loyal- loyal to 2-3 brand ,shifting loyal, switcher