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Segmentation:
“Aggregating
Although not all these consumers prospective buyers
are completely alike, they share into groups that (1)
relatively similar needs and wants have common
Marketing action: involves efforts, needs and (2) will
resources, and decisions--product, respond similarly to
distribution, promotion, a marketing
and price
action.”
Market Segmentation
• Wants
• Resources
• Buying attitudes
• Buying practices
• Geographical locations
Segmentation Variables
There is no single way to segment a market. A
marketer has to try different segmentation
variables, singly and in combination.
Geographic
Demographics
Psychographics
Purchase Behavior
Basic Market-Preference Patterns
Ice Cream Preference Example
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Creaminess
Creaminess
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Sweetness Sweetness Sweetness
Segment marketing
Individual marketing
Niche marketing
Local marketing
Levels of Market Segmentation
Segment marketing – Dividing the market into
different segments on the basis of
homogenous need.
Segmented on basis of broad similarity with
regard to some attributes
Segmentation is also sometimes identifying,
capturing & retaining potential new markets
Levels of Market Segmentation
Individual marketing – Extreme marketing in
which marketers focus on individual
customers.
Keep track of individual tastes & preferences
of individual customers
Many companies are approaching individuals
through e-mails to promote their products.
Levels of Market Segmentation
Niche marketing – Marketers effort to
position their product or service in smaller
markets that have similar attributes and have
been neglected by other marketer
Segment further divided into sub segments to
cater unsatisfied needs of small group is
called as niche
Levels of Market Segmentation
Selective Specialization:
Product Specialization :
Market specialization:
The firm concentrates on serving many needs
of a particular segment