ASSIGNMENT - 02

MARKETING SEGMENTATION

Market Segmentation is a process of dividing the market

of potential customers into different groups and
segments on the basis of certain characteristics. The
member of these groups share similar characteristics
and usually have one or more than one aspect common
among them.
There are many reasons as to why market segmentation
is done. One of the major reasons marketers segment
market is because they can create custom marketing
mix for each segment and cater them accordingly.
The concept of market segmentation was coined by
Wendell R. Smith who in his article “Product
Differentiation and Market Segmentation as Alternative
Marketing Strategies” observed “many examples of
segmentation” in 1956. Present-day market
segmentation exists basically to solve one major
problem of marketers; more conversions. More
conversion is possible through personalized marketing
campaigns which require marketers to segment market
and draft better product and communication strategies
according to needs of the segment.
Market segmentation is one of the most efficient tools for
marketers to cater to their target group. It makes it
easier for them to personalize their campaigns, focus on
what’s necessary, and to group similar consumers to
target a specific audience in a cost-effective manner.
COMPANY:
Zantyes Trading is a leading manufacturer / exporter / trader /
supplier of high quality paper and agricultural commodity products
from goa..

Zantyes Trading mission has always been to provide high quality

products for the global export market. We have managed to become a
well-known name in the field of Agricultural Commodity, Supplies
and Global Export through fair dealings and commitment towards
offering only the best.

Our General interest in agricultural commodity, Supplies and Exports

Trading makes us a formidable force in the exports industry. Our
knowledge in the relevant fields of Manufacturing, Global Exports
and Logistics make us an all-round intelligent bet.

CUSTOMER :
It is widely consumed by variety of people , but price of cashew
nuts is high so the no of customers are from middle class and higher
class background .
 SEGMENTATION ,TARGET
MARKETS&positioning
The process of segmenting the market is deceptively
simple. Seven basic steps describe the entire process
including segmentation, targeting, and positioning. In
practice, however, the task can be very laborious since it
involves poring over voluminous data, and requires a
great deal of skill in analysis, interpretation and some
judgment. Although a great deal of analysis needs to be
undertaken, and many decisions need to be made,
marketers tend to use the so-called S-T-P process, that
is Segmentation→ Targeting → Positioning, as a broad
framework for simplifying the process.Segmentation
comprises identifying the market to be segmented;
identification, selection, and application of bases to be
used in that segmentation; and development of profiles.
Targeting comprises an evaluation of each segment's
attractiveness and selection of the segments to be
targeted. Positioning comprises the identification of
optimal position and development of the marketing
program.
Base for Segmenting Consumer Marketing:

1. Demographic Segmentation
2. Geographic Segmentation
3. Behavioural Segmentation
4. Psychographic Segmentation
PRODUCT: -
Cashew nuts

1. Demographic Segmentation:-
Demographic segmentation divides the market on the basis of
demographic variables like age, gender, marital status, family size,
income, religion, race, occupation, nationality, etc. This is one of the
most common segmentation practice among the marketers.
Demographic segmentation is seen almost in every industry like
automobiles, beauty products, mobile phones, apparels, etc and is set
on a premise that the customers’ buying behaviour is hugely influenced
by their demographics.
Demographic factor (Age): 25-60
Demographic factor (Income): Above 10 Lakhs
Overall product mix: 60%

2. Geographic Segmentation: -
Geographic segmentation divides the market on the basis of geography. This
type of market segmentation is important for the marketers as people belonging
to different regions may have different requirements. For example, water might
be scarce in some regions which inflates the demand for bottled water but, at the
same time, it might be in abundance in other regions where the demand for the
same is very less.
People belonging to different regions may have different reasons to use the
same product as well. Geographic segmentation helps marketer draft
personalized marketing campaigns for everyone.

Geographic characteristic: Between Cities; Might need to travel through rural

stretches.

3. Behavioural Segmentation: -
The market is also segmented based on audience’s behaviour, usage, preference,
choices and decision making. The segments are usually divided based on their
knowledge of the product and usage of the product. It is believed that the knowledge
 of the product and its use affects the buying decision of an individual. The audience
can be segmented into –
 Those who know about the product,
 Those who don’t know about the product,
 Ex-users,
 Potential users,
 Current Users,
 First time users, etc.
People can be labelled as brand loyal, brand-neutral, or competitor loyal. They can
also be labelled according to their usage. For example, a sports person may prefer
an energy drink as elementary (heavy user) and a not so sporty person may buy it
just because he likes the taste (light/medium user).

Special behavioural: Heavy use; used on smooth terrain but continuously for longer
period of time.

4.Psychographic Segmentation:-
Psychographic Segmentation divides the audience on the basis of their personality,
lifestyle and attitude. This segmentation process works on a premise that consumer
buying behaviour can be influenced by his personality and lifestyle. Personality is the
combination of characteristics that form an individual’s distinctive character and
includes habits, traits, attitude, temperament, etc. Lifestyle is how a person lives his
life.
Personality and lifestyle influence the buying decision and habits of a person to a
great extent. A person having a lavish lifestyle may consider having an air
conditioner in every room as a need, whereas a person living in the same city but
having a conservative lifestyle may consider it as a luxury.
Primarily Time- based servicing / replacement; Occasionally Grudge based
purchase.
Moderate self –involvement usually get the vehicle serviced at the same service
centre loyal towards a particular brand of tyres.

Target of Product:
A target market is a group of customers (individuals, households or
organisations), for which an organisation designs, implements and
maintains a marketing mix suitable for the needs and preferences of that
group.
Target marketing goes against the grain of mass marketing. It involves
identifying and selecting specific segments for special
attention. Targeting, or the selection of a target market, is just one of the
many decisions made by marketers and business analysts during the
segmentation process.
Examples of target markets used in practice include:
 Rolls-Royce (motor vehicles): wealthy individuals who are looking for
the ultimate in prestige and luxury
 Dooney and Bourke handbags: teenage girls and young women
under 35 years

POSITIONING :
POSITIONING STATEMENT :
The quality of cashew nuts is high and highly nutrion
. nuts in general are high protin .they are also rich in many
minerals and vitamins .

po

7 O’s of Marketing
1. Occupants: Who contribute the market.
2. Object: Good quality, Cost efficiency ,easy availability.
3. Objectives: It delivers high quality product and high
service level to satisfy customers. Provides a comfortable
and safe driving experience and provides long life.
4. Organization: Retail outlets , Online stores.
5. Operation: Cash, Credit cards & Debit cards.
6. Occasion: Daily, weekly, monthly, half yearly, annually
7. Outlet: Online Stores, Shops.