Market segmentation:
Market segmentation defines dividing the larger market into smaller segments of buyers who have different wants, attitudes, buying behavior. Companies do that for reaching customers efficiently & effectively.
In this section, we' re going to learn four important segmentation topics. These're-
1. Geographic segmentation
2. Demographic segmentation
3. Psychographic segmentation
4. Behavioral segmentation
Now , describe this four topics:
Geographic segmentation:
This segment calls for dividing the market based on different geographical areas, units, nations , regions, countries, cities or neighborhoods. Marketers know well that different geographical areas people have different needs & wants. Based on this ,they select one or more geographical areas to operate their business. At present, producer produces their goods & services for a particular areas, regions or countries poeple to meet their needs & advertising, promotion & sales efforts do for their selecting segments.
For example: Food panda, hungry naki start their business only in the capital city.
Demographic segmentation:
Demographic segmentation calls for dividing the market into different segments based on different variables like age, income , occupation, education, gender ,life- cycle stage etc. This segmentation is best for consumer markets. That 's why consumer needs, wants & demands are vary closely related with demographic variables & this variables are easy to measure for marketers.
Now ,look Some demographic variables :
Age & life-cycle stage: Different aged people have different need,they also use different products, different size, different quality, design. That's all vary with age. On the other hand, we can also see different lifestylist people like cricketer & an actor are not lead same lifestyle.
Income: It is a major point. People's need ,want & demand varies with their income change just like when i have $40 income , i can see 6 movies in a month but when mh income is $28 , i can see only 2 movies.
Gender: Marketers divided their markets into different segments based on gender. Such as clothing , cosmetics, toiletries & magazines .
Psychographic segmentation:
It is dividing the market into different segment based on different social class, lifestyle, attitude, personality or characteristics. Marketers face people in same demographic group having different psychological needs.
Behavioral segmentation:
It calls for dividing the market into different segments bases on consumer knowledge, attitudes, uses or responses to a product. All this variables are the best starting point for marketers to capture customers.
Occasions: It is divided the market according to occasions when buyers get idea to buy. So many companies boost their products at the time of traditional occasions.
Benefits sought: It is divided the market according to different benefits that consumers seek from the product.
User status: Markets can be divided into nonusers, ex- users, first timer, regular users & potential users.
Usage rate : Markets can be also divided into light, medium & heavy product users.
Mentioning all segmentation are done by marketers before entering into markets.
Market segmentation defines dividing the larger market into smaller segments of buyers who have different wants, attitudes, buying behavior. Companies do that for reaching customers efficiently & effectively.
In this section, we' re going to learn four important segmentation topics. These're-
1. Geographic segmentation
2. Demographic segmentation
3. Psychographic segmentation
4. Behavioral segmentation
Now , describe this four topics:
Geographic segmentation:
This segment calls for dividing the market based on different geographical areas, units, nations , regions, countries, cities or neighborhoods. Marketers know well that different geographical areas people have different needs & wants. Based on this ,they select one or more geographical areas to operate their business. At present, producer produces their goods & services for a particular areas, regions or countries poeple to meet their needs & advertising, promotion & sales efforts do for their selecting segments.
For example: Food panda, hungry naki start their business only in the capital city.
Demographic segmentation:
Demographic segmentation calls for dividing the market into different segments based on different variables like age, income , occupation, education, gender ,life- cycle stage etc. This segmentation is best for consumer markets. That 's why consumer needs, wants & demands are vary closely related with demographic variables & this variables are easy to measure for marketers.
Now ,look Some demographic variables :
Age & life-cycle stage: Different aged people have different need,they also use different products, different size, different quality, design. That's all vary with age. On the other hand, we can also see different lifestylist people like cricketer & an actor are not lead same lifestyle.
Income: It is a major point. People's need ,want & demand varies with their income change just like when i have $40 income , i can see 6 movies in a month but when mh income is $28 , i can see only 2 movies.
Gender: Marketers divided their markets into different segments based on gender. Such as clothing , cosmetics, toiletries & magazines .
Psychographic segmentation:
It is dividing the market into different segment based on different social class, lifestyle, attitude, personality or characteristics. Marketers face people in same demographic group having different psychological needs.
Behavioral segmentation:
It calls for dividing the market into different segments bases on consumer knowledge, attitudes, uses or responses to a product. All this variables are the best starting point for marketers to capture customers.
Occasions: It is divided the market according to occasions when buyers get idea to buy. So many companies boost their products at the time of traditional occasions.
Benefits sought: It is divided the market according to different benefits that consumers seek from the product.
User status: Markets can be divided into nonusers, ex- users, first timer, regular users & potential users.
Usage rate : Markets can be also divided into light, medium & heavy product users.
Mentioning all segmentation are done by marketers before entering into markets.
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