Market segmentation (20 Slides)
Summary :
Table of Contents
- Introduction
- Meaning of market segmentation
- Why segment markets?
- Advantages of market segmentation
- Limitations of market segmentation
- Bases for market segmentation
- Geographic base
- Local market
- Urban and rural
- Regional
- National market
- International market
- Demographic bases
- Sex
- Age
- Size of family
- Income
- Family of cycle
- Occupation
- Religion
- Education
- Psychographic bases
- Social class
- Life style
- Personality
- Product consumption
- Product benefits
- Concentrated (niche) marketing
- Micromarketing
- Positioning
- Positioning tasks
- User status
- Readiness to buy
- Attitides
Abstract
The national market of any country is very wide. The producers of goods need not concentrate on a specific group of buyers or a distinct market. This may be termed as 'mass' marketing. The producers of products must be clear whether they want to make a general purpose product which can be bought by any person in the nation-wide market or distinct kind of product to serve the needs of a particular group of buyers only. In simple terms. "market segmentation may be defined as a process of dividing a market into different sub-markets on the basis of some definite criteria." Another definition may be put as follows:"market segmentation is a process of dividing buyers into various groups with a common need or want, into different classes on the basis of region, age, sex, preference, habit, prejudice etc.
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