Market Segmentation

Market naval division 􀂙 Market is a very commodious term 􀂙 It covers overly many people, too widely fluxed-up and too change in their needs, characteristics and buying choices and practices 􀂙 Covering the whole market exit be a Shotgun procession marketing efforts drop be scattered. This can work swell up in a closed economy e.g. yesteryears ambassador car, that not in open markets. 􀂙 Hence it becomes essential to revolve about marketing efforts on buyers with greater purchase interest the pop off approach 􀂙 Successful companies go in for signal marketing Three study step in train marketing 􀂙 Divide market into unmortgaged group of buyers with different needs, characteristics or behaviour Market divider 􀂙 pronounce each market ingredients draw and discern to enter Market Tar keeptiing e.g. toiletries, cosmetics Liver/P& G 􀂙 Formulate militant positioning for a pro duct a product and a detailed marketing mix e.g. NIRMA 6.Develop mktg mix for each target incision 5.Develop positioning for each target segment Market Positioning 4.Select the target segment 3.Develop measures of segment attractiveness Market Targeting 2.Develop profiles of resulting segments 1.

Identify bases for segmenting the market Market section Stages in Segment Marketing Micro Marketing recession Marketing Segment Marketing stilt Marketing Segmentation Continuum Characteristics of Mass Marketing ◆ Largest Potential Market ◆ Lower cost / economies of scale ◆ Single product with pocket-si zed differntiation ◆ Decision quali! fication variables Higher margins Vs Lower prices Some examples: Ambassador cars; Ford cars; coca plant cola Major Disadvantage: Consumers may slowly run down of monotony and switch to substitutes when available. e.g. people simply switched to Maruti cars in preference to monotonous Ambassador and Fiat cars. Characteristics of Segment Marketing...If you postulate to get a full essay, order it on our website: BestEssayCheap.com

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