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1 Growth of Reid & Taylor through Market Segmentation
LIST OF TABLES
ANALYSIS OF DEALERS
SI. No. Title
1. Table showing perception of the dealer about the fabric
2. Table showing order time or taken by the dealer to order the fabric
3. Table showing the material the dealer would purchase the most
4.Table showing the convincing factor that influenced the dealer to take up the
fabric
5.Table showing the purchase of the fabric in accordence with price and age group
6.Table showing the purchase of the various fabric with respect to the age group
7.Table showing the bifurcation of the customers in accordance with the class they
belong to
8 Table showing the various customers from various profession who buy the fabrics
9 Table showing the background of the customer.
10 Table showing the ranking provided by the various fabric brands
11 Table showing the level of satisfaction of the service o f r& t
12 Table showing the awareness of the campaign of r& t
13 Table showing the season sales of the worsted fabrics
14 Table showing the reason for taking up of the dealership of r & t
15 Table showing the major focus of the customer on the purchase of the fabric
16 Table showing the purchase decision & priorities of the customer
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2 Growth of Reid & Taylor through Market Segmentation
ANALYSIS FOR CUSTOMERS
1 Table showing the purpose or reason for buying reid and taylor fabrics
2 Table showing the fabric ranking by the customers
3 Table showing brand association of reid and taylor
4 Table showing the purchase trend of reid and taylor fabric
5 Table showing the purpose for the purchase
6 Table showing the time of purchase of worsted fabric
7 Table showing the visit to the shop
8 Table showing perception on quality of the fabric
9 Table showing perception of reid and taylor fabric price
10 Table showing the sources which let you known about reid and taylor
11 Table showing the availability of the fabric
12 Table showing the price range purchase of different fabrics category
13 Table showing the purchase of the suitings
14 Table showing the point of purchase
15 Table showing the purchase decision parameters
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3 Growth of Reid & Taylor through Market Segmentation
CONTENTS
SL.NO CHAPTER NAME PAGE-
NO
CHAPTER-I INTRODUCTION
CHAPTER-II A BRIEF PROFILE ABOUT-
SKUMARS PVT LTD
CHAPTER-III THEORITICAL ASPECTS
REGARDING MARKET
SEGMENTATION
CHAPTER-IV MARKET SEGMENTA TION IN
REID & TAYLOR-AN ANALYSIS
CHAPTER-VSUMMARY OF FINDINGS,
SUGGESTIONS AND
CONCLUSION
BIBILOGRAPHY
ANNEXURES:
QUESTIONNAIRE
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4 Growth of Reid & Taylor through Market Segmentation
INTRODUCTION
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5 Growth of Reid & Taylor through Market Segmentation
CHAPTER-I
INTRODUCTION
To compete successfully in the fast-changing and challenging global markets of the
twenty-first century, business and technology firms (large and small) should use segmentation
techniques and strategies to find their competitive advantage. Relevant market selection options
are differentiation, concentration, and atomization.
Market differentiation means that the firm designs two or more marketing strategies to serve
designated segments based on differing customer characteristics and needs. Concentrated
marketers recognize the diversity of the marketplace but choose to attack a single target market
opportunitythis is generally cost efficient and enables management to focus on what they do
best. An atomization approach develops individualized marketing programs for each key
prospect or customeralthough costly, this strategy may prove very successful. Also, do not
forget the value of niche marketing in your segmentation planning.
segmentation-driven marketing strategy helps companies design responsive
products, develop effective promotional tactics and campaigns, gauge competitive and fine-tune
current marketing initiatives. In spite of numerous - benefits, marketers must also recognize
that segmentation strategy is generally more costly than mass marketing and necessitates a
major commitment by management to customer-oriented planning, research,
implementation, and control.
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6 Growth of Reid & Taylor through Market Segmentation
OBJECTIVE OF STUDY:
To have a better understanding off fie market of Reid &Taylor To know various tools of analysis for knowing the market To understand the vital aspects of market segmentation. To enhance the various aspects involved in segmentation and highlighting
them.
To evaluate the segmentation strategy adopted by Reid & Taylor. To compare the performance of Reid & Taylor in different segments. To identify the strengths and weakness and to suggest measures to overcome them.
METHODOLGY OF THE STUDY
The study comprised of data collection from various sources can be broadly categorized as
Primary sources
This data is collected from the questionnaire prepared by me on the : rections of my
external guide, where in the customers, retailers & wholesalers ~ m Bangalore & Mysore are
being involved for a study. The information from - :he above three play a vital role for my
study.
Secondary source
1. Web sites2. Journals magazines3. News paper
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7 Growth of Reid & Taylor through Market Segmentation
SCOPE OF THE STUDY:
The study is undertaken to know the market segmentation provided by the
company. The data collected & interpreted will be useful for the company in many ways. Thestudy provides an clear insight upon market segmentation, better monitoring, etc, by this the
company can have an clear cut idea about its market.
STATEMENT OF THE PROBLEM:
The growth and success of the organization depends upon its market segmentation
adopted so it is essential to make the study more competent and effective in nature.
As Reid & Taylor is performing better in the market in the recent days it is necessary for
the company to have an feedback report from the from the dealers, customers, and retailers. So
the study aims to find out how far the segmented market of Reid & Taylor is performing.
LI MI TATIONS OF THE STUDY:
The study is limited to the sample size of 75customers and 35 dealers. A bigger sample couldhave made the study more valid; this was mainly due to less availability of time.
The respondents from the customer and dealers are feared to be slightly prejugist as I foundthe respondents not fully opening up.a bogger sample size would have addressed to this for
an reasonable extent.
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8 Growth of Reid & Taylor through Market Segmentation
COMPANY PROFILE
ABOUT REID AND TAYLOR
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9 Growth of Reid & Taylor through Market Segmentation
The S. Kumars Group is an Indian conglomerate with interests in textiles, apparels, energy, e-
commerce, ITES, leisure and retailing sectors. The flagship company of the group, S. Kumars
Nationwide Limited orSKNL(BSE: 700010, NSE: SKUMARSYNF), manufactures and
markets the famous Reid & Taylor brand in India. SKNL was formerly known as S. Kumars
Synfabs Ltd.
History
he S. Kumars Group was established in 1948 by Abhayakumar Kasliwal and Shambhukumar
Kasliwal, who built a textile distribution network, and followed it with textile manufacturing.[2]
On 28 September 1990, S Kumars was incorporated as a private limited company, and became a
deemed Public Company with effect from 28 February 1991. It became a Public Company on 7
July 1992.
The company then transformed to SKNL (S. kumars Nationwide Limited). SKNL is one of
Indias leading textile and apparel company with expertise in multi-fiber manufacturing. The
company has extended its presence in multiple product categories from Fabrics to Apparels and
Home Textiles.
Brands and subsidiaries
Textiles and apparel
S. Kumars has set up a texturising and twisting plant at Pithampurin Madhya Pradesh. In 1997,
S. Kumars acquired a spinning-cum-weaving unit nearDewas (Madhya Pradesh), from Standard
Industries Limited.
In 1998, S. Kumars entered into a collaboration with Reid & Taylor ofScotland for
manufacturing and marketing the Reid & Taylor worsted suiting in India. In 2006, SKNL
launched "Carmichael House", a complete range of home linen products and accessories.[3]
In 2006, SKNL launched "Belmonte", a youth menswear brand that had both fabric and ready-to-
wear garments under one label. It cliams to be India's only youth brand to offer "Total Wardrobe
Solutions" - Fabric, Apparel and accessories.
http://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Conglomerate_(company)http://en.wikipedia.org/wiki/Textileshttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=700010http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?cons=SKUMARSYNF§ion=7http://en.wikipedia.org/wiki/S._Kumars#cite_note-1http://en.wikipedia.org/wiki/S._Kumars#cite_note-1http://en.wikipedia.org/wiki/S._Kumars#cite_note-1http://en.wikipedia.org/wiki/Pithampurhttp://en.wikipedia.org/wiki/Dewashttp://en.wikipedia.org/wiki/Madhya_Pradeshhttp://en.wikipedia.org/wiki/Scotlandhttp://en.wikipedia.org/wiki/S._Kumars#cite_note-2http://en.wikipedia.org/wiki/S._Kumars#cite_note-2http://en.wikipedia.org/wiki/S._Kumars#cite_note-2http://en.wikipedia.org/wiki/S._Kumars#cite_note-2http://en.wikipedia.org/wiki/Scotlandhttp://en.wikipedia.org/wiki/Madhya_Pradeshhttp://en.wikipedia.org/wiki/Dewashttp://en.wikipedia.org/wiki/Pithampurhttp://en.wikipedia.org/wiki/S._Kumars#cite_note-1http://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?cons=SKUMARSYNF§ion=7http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=700010http://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://en.wikipedia.org/wiki/Textileshttp://en.wikipedia.org/wiki/Conglomerate_(company)http://en.wikipedia.org/wiki/India7/30/2019 Naveed Market Segmentation Ready With Borders Fully Done
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10 Growth of Reid & Taylor through Market Segmentation
In 2007, the prestige clothing brand Stephens Brothers was licensed to SKNL in India. It was
launched in December 2007, to introduce the English cut & style to Indian consumer. The brand
is now owned by the UK Group Austin Reed.
[edit]Other sectors
In 1988, S. Kumars established a two-wheeler tyres and tubes manufacturing facility at
Pithampur in Madhya Pradesh. It also entered into an alliance with Apollo Tyres, for marketing
and growth.
The MaheshwarHydro Electric Project, located at Mandleshwarin Madhya Pradesh was
awarded to S. Kumars Group in 2001, on "build, own and operate" basis. However this project is
still to be completed. The project became controversial due to non-payment on various occasions
by S. Kumars.[citation needed]
Landmarc Leisure Corporation Limited was established as S. Kumars' leisure and entertainment
business arm. It was originally found to set up a chain of family entertainment centers across
India, the first two being launched in Worli (Mumbai) and Indore. In 2001, S. Kumars launched
S-MAART, a department store in Landmarc Citi, Worli. In 2002, Landmarc Leisure Corporation
decided to develop its leisure brand under two entities:Landmarc (family entertainment centers)
andMikanos (nightclubs).[4]
S. Kumars Online Ltd. (SKOL) was set up as the e-commerce arm of the S. Kumars Group,
while Induj Infotech Ltd. was set up as its ITESarm.
In 2009, Company has acquired assets ofHartmarx Corporation, a well-known company in
American and European markets.
[edit]Organization
SKNL businesses are divided into product-specific Strategic Business Units (SBUs): Consumer
Textiles, Home Textiles, Worsted Suitings, Ready to Wear and High Value Fine Cotton (HVFC).Each of these SBUs is headed by an Executive Director, Chief Executive Officer or a Chief
Operating Officer. The corporate activities related to finance, planning, research, publicity,
marketing, human resources etc. are centralized.
http://en.wikipedia.org/wiki/Austin_Reed_(retailer)http://en.wikipedia.org/w/index.php?title=S._Kumars&action=edit§ion=4http://en.wikipedia.org/wiki/Maheshwarhttp://en.wikipedia.org/wiki/Mandleshwarhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Worlihttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Indorehttp://en.wikipedia.org/wiki/S._Kumars#cite_note-3http://en.wikipedia.org/wiki/S._Kumars#cite_note-3http://en.wikipedia.org/wiki/S._Kumars#cite_note-3http://en.wikipedia.org/wiki/ITEShttp://en.wikipedia.org/wiki/Hartmarx_Corporationhttp://en.wikipedia.org/w/index.php?title=S._Kumars&action=edit§ion=5http://en.wikipedia.org/w/index.php?title=S._Kumars&action=edit§ion=5http://en.wikipedia.org/wiki/Hartmarx_Corporationhttp://en.wikipedia.org/wiki/ITEShttp://en.wikipedia.org/wiki/S._Kumars#cite_note-3http://en.wikipedia.org/wiki/Indorehttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Worlihttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Mandleshwarhttp://en.wikipedia.org/wiki/Maheshwarhttp://en.wikipedia.org/w/index.php?title=S._Kumars&action=edit§ion=4http://en.wikipedia.org/wiki/Austin_Reed_(retailer)7/30/2019 Naveed Market Segmentation Ready With Borders Fully Done
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11 Growth of Reid & Taylor through Market Segmentation
Consumer Textiles
Belmonte (Fabrics) Uniformity by Belmonte (Uniform fabric) S.Kumars (Work wear fabric)Home Textiles
Carmichael House (Premium) Benetton ( Super Premium)Ready to Wear (TWS)
Belmonte (Mid-Premium)Baruche Superfine Cottons
To be launched[edit]Reid & Taylor (India) Limited
S. Kumars acquired rights for manufacturing and marketing the Reid & Taylor worsted suiting in
India in 1998. Reid & Taylor was originally started by a Scottish man named Alexander Reid in
the 1830s. The concern, financed by Joseph Taylor, went on to become a notable worsted suiting
brand. S. Kumars set up a luxury suiting plant at Mysore in 1998 for Reid & Taylor (India) Ltd.
The brand has been endorsed by India's notable film actor, Amitabh Bachchan. In 2008, 24.5%
stake in Reid & Taylor was acquired by an affiliate of GIC Special Investments for Rs 900
crore.[5]
Luxury Textiles
Reid & Taylor (Luxury Suitings)Ready to Wear
Reid & Taylor ( Premium) Stephens Brothers ( Super Premium)
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12 Growth of Reid & Taylor through Market Segmentation
LITERATURE REVIEW
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13 Growth of Reid & Taylor through Market Segmentation
A marketing term referring to the aggregating of prospective buyers into groups (segments) that
have common needs and will respond similarly to a marketing action. Market segmentation
enables companies to target different categories of consumers who perceive the full value of
certain products and services differently from one another. Generally three criteria can be used to
identify different market segments:
1) Homogeneity (common needs within segment)
2) Distinction (unique from other groups)
3) Reaction (similar response to market)
A market segment is a classification of potential private or corporate customers by one or more
characteristics, in order to identify groups of customers, which have similar needs and demandsimilar products and/or services concerning the recognized qualities of these products, e.g.
functionality, price, design, etc.
An ideal market segment meets all of the following criteria:
It is internally homogeneous (potential customers in the same segment prefer the sameproduct qualities).
It is externally heterogeneous (potential customers from different segments have basicallydifferent quality preferences).
It responds similarly to a market stimulus. It can be cost-efficiently reached by market intervention.The term segmentation is also used when customers with identical product and/or service needs
are divided up into groups so they can be charged different amounts for the services.
A customer is allocated to one market segment by the customers individual characteristics.
Often cluster analysis and other statistical methods are used to figure out those characteristics,
which lead to internally homogeneous and externally heterogeneous market segments.
Examples of characteristics used for segmentation:
Gender Price
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14 Growth of Reid & Taylor through Market Segmentation
Interests Location Religion Income Size of HouseholdWhile there may be theoretically 'ideal' market segments, in reality every organization engaged
in a market will develop different ways of imagining market segments, and create Product
differentiation strategies to exploit these segments. The market segmentation and corresponding
product differentiation strategy can give a firm a temporary commercial advantage.
Criteria for Segmenting
Homogenity (within a segment)
similar responses to marketing mix similar segmenting dimensionsHeterogenity (between segments)
different responses to marketing mix different segmenting dimensionsSubstantial
segment is big enough to be profitableOperational
useful for identifying customers useful in deciding on marketing mix
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15 Growth of Reid & Taylor through Market Segmentation
Basis for segmenting consumer markets
Geographic segmentation
The market is segmented according to geographic criteria- nations, states, regions, countries,
cities, neighborhoods, or zip codes. Geo-cluster approach combines demographic data with
geographic data to create a more accurate profile of specific[1]
Demographic Segmentation
Demographic segmentation consists of dividing the market into groups based on variables such
as age, gender, family size, income, occupation, education, religion, race and nationality.
As you might expect, demographic segmentation variables are amongst the most popular bases
for segmenting customer groups.
This is partly because customer wants are closely linked to variables such as income and age.
Also, for practical reasons, there is often much more data available to help with the demographic
segmentation process.
Psychographic Segmentation
Psychographics is the science of using psychology and demographics to better understand
consumers. Psychographic segmentation: consumer are divided according to their lifestyle,
personality, values. People within the same demographic group can exhibit very different
psychographic profiles
Positive" market seg.mentation
Market segmenting is dividing the market into groups of individual markets with similar wants
or needs that a company divides into distinct groups which have distinct needs, wants, behavior
or which might want different products & services. Broadly, markets can be divided according to
a number of general criteria, such as by industry or public versus private. Although industrial
market segmentation is quite different from consumer market segmentation, both have similar
objectives. All of these methods of segmentation are merely proxies for true segments, which
don't always fit into convenient demographic boundaries.
Consumer-based market segmentation can be performed on aproduct specific basis, to provide a
close match between specific products and individuals. However, a number of generic market
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16 Growth of Reid & Taylor through Market Segmentation
segment systems also exist, e.g. the system provides a broad segmentation of the population of
the United States based on the statistical analysis of household and geodemographic data.
The process of segmentation is distinct from positioning (designing an appropriate marketing
mix for each segment). The overall intent is to identify groups of similar customers and potentialcustomers; to prioritize the groups to address; to understand their behavior; and to respond with
appropriate marketing strategies that satisfy the different preferences of each chosen segment.
Revenues are thus improved.
Improved segmentation can lead to significantly improved marketing effectiveness. Distinct
segments can have different industry structures and thus have higher or lower attractiveness
Once a market segment has been identified (via segmentation), and targeted (in which the
viability of servicing the market intended), the segment is then subject to positioning. Positioning
involves ascertaining how a product or a company is perceived in the minds of consumers.
This part of the segmentation process consists of drawing up a perceptual map, which highlights
rival goods within one's industry according to perceived quality and price. After the perceptual
map has been devised, a firm would consider the marketing communications mix best suited to
the product in question.
Behavioral Segmentation
In behavioral segmentation, consumers are divided into groups according to their knowledge of,
attitude towards, use of or response to a product.
Occasions
segmentation according to occasions.we segment the market according to the occasions.
Benefits
Segmentations according to benefits sought by the consumer.
Using Segmentation in Customer Retention
The basic approach to retention-based segmentation is that a company tags each of its active
customers with 3 values:
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17 Growth of Reid & Taylor through Market Segmentation
Tag #1: Is this customer at high risk of canceling the company's service? One of the most
common indicators of high-risk customers is a drop off in usage of the company's service. For
example, in the credit card industry this could be signaled through a customer's decline in
spending on his or her card.
Tag #2: Is this customer worth retaining? This determination boils down to whether the post-
retention profit generated from the customer is predicted to be greater than the cost incurred to
retain the customer. Managing Customers as Investments.
Tag #3: What retention tactics should be used to retain this customer? For customers who
are deemed save-worthy, its essential for the company to know which save tactics are most
likely to be successful. Tactics commonly used range from providing special customer
discounts to sending customers communications that reinforce the value proposition of the given
service.
Process for tagging customers
The basic approach to tagging customers is to utilize historical retention data to make predictions
about active customers regarding:
Whether they are at high risk of canceling their service Whether they are profitable to retain What retention tactics are likely to be most effectiveThe idea is to match up active customers with customers from historic retention data who share
similar attributes. Using the theory that birds of a feather flock together, the approach is based
on the assumption that active customers will have similar retention outcomes as those of their
comparable predecessor.
Niche Marketing
A niche is a more narrowly defined customer group who seek a distinct set of benefits. dentifiedby dividing a segment into subsegments,distinct and unique set of needs,requires speciallization,
and is not likely to attract too many competitors.
Local Marketing
Marketing programs tailored to the needs of local customer groups.
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18 Growth of Reid & Taylor through Market Segmentation
Price Discrimination
Where a monopoly exists, the price of a product is likely to be higher than in a competitive
market and the quantity sold less, generatingmonopoly profits for the seller. These profits can be
increased further if the market can be segmented with different prices charged to different
segments charging higher prices to those segments willing and able to pay more and charging
less to those whose demand is price elastic. The price discriminator might need to create rate
fences that will prevent members of a higher price segment from purchasing at the prices
available to members of a lower price segment. This behavior is rational on the part of the
monopolist, but is often seen by competitionauthorities as an abuse of a monopoly position,
whether or not the monopoly itself is sanctioned. Examples of this exist in the transport industry
(a plane or train journey to a particular destination at a particular time is a practical monopoly)
where business class customers who can afford to pay may be charged prices many times higher
than economy class customers for essentially the same service.
Algorithms and Approaches
Any discrete variable is a segmentation. For instance, customers might be segmented by gender
('Male' or 'Female') or attitudes ('progressive' or 'conservative'). Numeric variables may be
discretized to become segmentations, such as age ("=30") or income ("The 99%
(AGI= US $300,000)").
Segmentations can be obtained by any number of approaches. Minimally, an existing discrete
variable may be chosen as a segmentation, also called "a priori" segmentation. At the other
extreme, a research project may be commissioned to collect data on many attributes and use
statistical analyses to derive a segmentation, also called "post-hoc" segmentation. In between,
qualitative knowledge of the market based on experience may be used to identify divisions that
are likely to be useful.
Common statistical techniques for segmentation analysis include:
Clustering algorithms such as K-means or otherCluster analysis Statistical mixture models such as Latent Class Analysis Ensemble approaches such as Random Forests
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19 Growth of Reid & Taylor through Market Segmentation
Latent class analysis and k-means analysis may be viewed as identifying new variables that
maximize the sum ofmutual informationbetween the segmentation variable and a set of basis
variables
The purpose for segmenting a market is to allow your marketing/sales program to focus on thesubset of prospects that are "most likely" to purchase your offering. If done properly this will
help to insure the highest return for your marketing/sales expenditures. Depending on whether
you are selling your offering to individual consumers or a business, there are definite differences
in what you will consider when defining market segments.
Category of Need
The first thing you can establish is a category of need that your offering satisfies. The following
classifications may help.
For businesses:
Strategic - your offering is in some way important to the enterprise mission, objectivesand operational oversight. For example, a service that helped evaluate capital investment
opportunities would fall into this domain of influence. The purchase decision for this
category of offering will be made by the prospect's top level executive management.
Operations - your offering affects the general operating policies and procedures.Examples might be, an employee insurance plan or a corporate wide communications
system. This purchase decision will be made by the prospect's top level operations
management.
Functional - your offering deals with a specific function within the enterprise such as dataprocessing, accounting, human resources, plant maintenance, engineering design,
manufacturing, inventory control, etc. This is the most likely domain for a product or
service, but you must recognize that the other domains may also get involved if the
purchase of the product or service becomes a high profile decision. This purchase
decision will be made by the prospect's functional management.
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20 Growth of Reid & Taylor through Market Segmentation
For the individual consumer:
Social Esteem or Pleasure - your offering satisfies a purely emotional need in theconsumer. Examples are a mink coat or a diamond ring. There are some products that are
on the boundary between this category and the Functional category such as a Rolex watch
(a Timex would satisfy the functional requirement and probably keep time just as well).
Functional - your offering meets a functional requirement of the consumer such as abroom, breakfast cereal or lawnmower.
Segmentation of NeedsThen you should establish what the need is and who is most likely to experience that
need. Your segmentation will be determined by a match between the benefits offered by
your offering and the need of the prospect. Some "need" categories for segmentationinclude:
Reduction in expenses Prospects might be businesses that are downsizing (right sizing), businesses that have
products in the mature stage of their life cycle or individuals with credit rating problems.
Improved cash flow Prospects might be businesses that have traditionally low profit margins, businesses that
have traditionally high inventory costs or individuals that live in expensive urban areas.
Improved productivity Prospects might be businesses that have traditionally low profit margins, Businesses that have recently experienced depressed earnings or individuals with large
families.
Improved manufacturing quality Prospects might be businesses with complex, multi-discipline manufacturing processes. Improved service delivery Prospects might be service businesses in highly competitive markets, product businesses
requiring considerable post-sale support or individuals in remote or rural areas.
Improved employee working conditions/benefits Prospects might be businesses where potential employees are in short supply. Improvement in market share/competitive position
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21 Growth of Reid & Taylor through Market Segmentation
Prospects might be new entrants to a competitive market. Need for education Prospects might be businesses or individuals looking for books on business planning, or
seminars on Total Quality Management.
Involvement with social trends Prospects might be businesses concerned with environmental protection, employee
security, etc. or individuals who believe in say 'no' to drugs, anti-crime, etc.
Specific - relating to product/service characteristics Prospects might be businesses or individuals interested in safety, security, economy,
comfort, speed, quality, durability, etc.
Factors that segment prospectsHaving determined the more general segmentation characteristics you can proceed to a
more detailed analysis of the market. There are literally thousands of ways to segment a
market, but the following are some of the more typical segmentation categories.
For businesses:
Industry by SIC code This is especially beneficial for vertical market offerings. Size - revenues, # employees, # locations In general if you are offering is highly sophisticated, requires significant resources or
provides greater value based on volume, then the target should be the larger enterprises.
Job position/responsibility Examples of offerings might be planning software for managers or cleaning agents for
maintenance managers.
Climate Examples of offerings might be dehumidifiers in areas near the ocean or snow plows in
northern areas.
Time related factors Some services in this category are vacation related industries in summer and tax planners
in the spring.
Language
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22 Growth of Reid & Taylor through Market Segmentation
An example of a language specific service is a Spanish TV channel. Status in the industry You might want to target businesses that are the technology leader or revenue leader or
employee satisfaction leader, etc.
Accessibility To minimize promotion and sales expense you may want to target urban rather than rural
or local rather than national prospects.
Future potential A good example is how Apple Computer supplied products to schools at all levels to
condition students graduating into the marketplace.
Ability to make a quick purchase decision Targeting individual purchasers versus business committees can significantly reduce
marketing expense and increase the probability of a quick close.
Access (or lack of access) to competitive offerings Cable TV business's significant investment in their service delivery system has allowed a
near monopoly for some time. IBM's service reputation insured minimal competition
during the mainframe days.
Need for customization Offerings such as police cars, busses for municipalities and specialized computer systems
fall into this category.
Product or service application to a business function Examples are data processing, accounting, human resources and plant maintenance.
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23 Growth of Reid & Taylor through Market Segmentation
For Individual Consumers:
Physical Size Offerings might be big men's clothing, golf clubs for shorter players, etc. Creation of or response to a fad Examples are hula hoops, Jurassic Park T-shirts, pet rock, physical fitness, etc. Geographic location Marketers take advantage of location by selling suntan lotion in Hawaii, fur coats in
Alaska, etc.
Time related factors You may be able to target vacationers in summer, impulse buyers during the holidays or
commuters at 7AM.
Demographics/culture/religion Ethnic products would fall into this category. Gender Product examples are scarves for women, ties for men, etc. Age Product examples are toys for children, jewelry for women, etc. Social status This could include country club memberships, philanthropic contributions, etc. Education Product and service examples are encyclopedias, scientific calculators, learning to read
tools and financial counseling.
Avocation This could include products for hunting, fishing, golf, art work, knitting, etc. Special Interests You could target cat lovers, science fiction readers, jazz music collectors, etc. Accessibility
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24 Growth of Reid & Taylor through Market Segmentation
Because the individual is more difficult to reach you may want to segment by urbanversus rural, train commuters, people who read Wall Street Journal, etc.
Access (or lack of access) to competitive offerings Due to high investment capital requirements or timing of market entry you may be able to
capture a significant market share in a specific geographical area. Examples might be a
trash service, emergency medical support, etc.
Need for specific information Based on features or content of your offering you can target a market segment. A product
might be books on how to start a business or a service might be seminars on how to quit
smoking.
Need for customization Product/service examples are home decoration, fashion wear, personal portraits, etc. Need for quality, durability, etc. Product examples are mountain climbing gear, carpenter's tools, etc. Degree of a product/service ingredient Segmentation based on prospect preferences is common. An example is dark chocolate
for some tastes, light chocolate for others.
Purchase decision influencersOnce you have isolated a specific segment of the market on which to focus, then you can
consider more subtle influences on the purchase decision. Some of these are:
Preference for channel of distribution Many prospects prefer to buy through a specific distributor or wholesaler. For individuals
this may be due to subtle, as well as, economic reasons. For example, an individual
prospect may immediately think of Wal-Mart or Home Depot when considering an
offering like yours. A business often has a preference so they can have a single
communication point for all purchases
When selling to consumers or businesses, the more individuals or groups involved in thepurchase decision, the more difficult the sale. Marketing costs for selling bread can stay
low because one person normally makes the purchase decision. Car purchases are more
complex because the purchase decision normally involves a husband and wife. Business
sales to committees often require months to achieve a decision.
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25 Growth of Reid & Taylor through Market Segmentation
Financial strength of the prospect Less affluent prospects may desire time payments versus a cash purchase and Chevrolets
instead of Cadillacs.
Quantity/volume requirements Restaurants will want large jars of pickles while individuals want small jars. Businesses
use large amounts of electricity at predictable times.
Ability to use the offering Trying to sell to a prospect who lacks either the knowledge or resources to properly
benefit from your offering will result in a 'no sale' situation or an unhappy customer. The
prospect should have knowledge and resources such as time, equipment, facilities,
personnel and complementary products/services.
Commitment required If the offering requires a high commitment in terms of time, resources or money by the
customer then the target should be prospects who 'really need' the offering rather than
prospects who get some, but not a lot, of benefits.
Brand awareness/users Examples are prospects who ask for IBM compatible PC's or Pitney Bowes mailing
machines or Winnebago R.V.s
Attitude toward a personality or enterprise Reputation helps sell AT&T long distance service, IBM computers, Michael Jordan
tennis shoes, etc.
Attitude toward price versus value For example, purchasers of collectors items aren't price sensitive while purchasers of
commodity items are price sensitive.
Experience with other products/services your enterprise has offered You are looking for a reaction like "I liked your first product so I'll try your second." Prospect bias Examples are, 'Buy USA', I want a car with a 'solid' feel, fast cars, sweet wines,large
print playing cards, etc.
Affiliation with other organizations
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26 Growth of Reid & Taylor through Market Segmentation
Such as the U.S. Chamber of Commerce, AMA, IEEE, doctors, attorneys, pastors,franchisors, entrepreneurs, etc.
After sale support expectations It is often beneficial to target prospects who have enough expertise that they will require
a minimum of after sale support.
Seller Characteristics that can influence purchase decision:Another form of influence is how the prospect perceives your offering and/or enterprise.
If you can determine the characteristics your prospects most value in an enterprise they
purchase from, you can identify those your organization possesses and promote them to
the prospect.
Unique employee skills, knowledge Extensive experience with a specific market segment or field of scientific inquiry can be
a powerful promotional tool. For example if an enterprise could sat, "Our scientists
knows more about corn silk genetic structures than anyone in the world" they would have
a strong sales statement.
Special relationships with distribution channels Product or service accessibility is a critical factor in sales success. If an enterprise could
say, "Due to a unique relationship, the XYZ video stores give us more shelf space than
any competitor" prospects will likely respond positively.
Customer service capabilities Prospects like to know that they can depend on post sale support from the product or
service provider. A statement like, "We have more service outlets in New Hampshire
than any competitor" will help secure sales.
Unique product forms Credible uniqueness such as, "Our product is the only one that offers dynamic digi-
whirling" is appealing to the market.
Manufacturing expertise The market is always interested in purchasing from the "best". If an enterprise can
confidently state, "We are the only enterprise that can manufacture molecular engineered
widgets", they have created an image of being the "best".
Longevity
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27 Growth of Reid & Taylor through Market Segmentation
Reliability is important. A statement like, "We have been in business for 50 years, so youcan count on us to be there when you need us" is usually a strong selling point.
Purchase Decision MakersFinally, a point to consider is, given the characteristics of your offering, what type of
decision maker will most likely be interested in purchasing from you. It may be
beneficial to rank your prospects based on the following classifications. While you may
not be able to make this classification of the prospect prior to the first contact, if your
sales personnel are sensitive to these characteristics it can strongly influence your sales
strategy.
Ultra Conservative - don't rock the boat, whatever they purchase must be consistent
with their current way of doing things.
They are most likely interested in products/services that are improvements to existingofferings rather than something new.
Once established as a customer they are seldom inclined to review alternatives. Very negative to technically complex offerings or offerings requiring extensive user
education.
Cost effective offerings are only of interest if they don't disturb the status quo. They are likely to react positively to any volume purchasing opportunities.
Conservatives - are willing to change, but only in small increments and only in a very cost
effective manner.
Will consider new products/services but only if related concept has been proven to beeffective. More likely to purchase improvements to existing offerings.
Will probably want to review competitive offerings, but will gravitate to best knownoffering with lowest risk decision.
Negative to neutral when considering technically complex offerings or offeringsrequiring extensive user education.
Strongly influenced by cost effective offerings and/or 'best price' opportunities
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28 Growth of Reid & Taylor through Market Segmentation
Liberals - regularly looking for new solutions, willing to make change (even major change) if
the benefit can be shown.
Will usually consider new products/services even if the related concept has not yet beenproven to be effective, but only if the potential benefits can be specified and understood.
Wants offerings that make effective use of technology, but is not interested in offeringsjust because they use a certain technology.
Will always want to review competitive offerings, but will usually choose the oneoffering the greatest benefit, even if there is some risk involved.
Neutral to positive when considering technically complex offerings or offerings requiringextensive user education.
Usually concerned with keeping employees informed and educated, so will often considereducational offerings.
Strongly influenced by offerings that most closely deliver the 'end results' desired, even ifthey are not the most cost effective.
Often are on social trend bandwagons so react positively to offerings that address theseneeds.
Technical Liberals - enamored with the benefits provided by high tech solutions and anypurchase decision will be biased by the technical content of the offering.
Usually consider new products/services even if the related concept has not yet beenproven to be effective.
Often consider just because they use a certain technology. Will always want to review competitive offerings, but will usually choose the one
offering the most hi-tech features, even if there is some risk involved.
Consider themselves technically competent and will expect leading edge use oftechnology.
Positive to fanatic when considering technically complex offerings even when requiringextensive user education.
Conversion costs usually not a major concern if technical benefits are there.
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29 Growth of Reid & Taylor through Market Segmentation
Not particularly concerned with keeping employees informed and educated, soeducational offerings are not of great interest.
Strongly influenced by offerings that most closely deliver the 'end results' desired, even ifthey are not the most cost effective.
Self Helpers - consistently defines/designs solutions to their problems, likes to acquire tools that
help in the innovation process.
Will usually consider new products/services, but the related concept must have beenproven to be effective.
Often consider just because they use a certain technology that is relevant to thedevelopment program they have underway.
Will always want to review competitive offerings, but will usually choose the one
offering the most effective 'do it yourself' features.
Usually consider themselves technically competent and will expect very effective use ofproven technology.
Not especially inclined toward technically complex offerings, would rather have userfriendly, but thought provoking, offerings.
Conversion costs usually not a major concern if offering promises potential forinnovation.
Usually concerned with keeping employees informed and educated, so educationalofferings are of interest.
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DATA ANALYSIS AND INTERPRETATION
ANALYSIS OF DEALERS
AND
ANALYSIS OF CUSTOMERS
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31 Growth of Reid & Taylor through Market Segmentation
ANALYSIS OF DEALERS
NOTE:
we had earlier given the questionnaire to the respondents in,DEALERS, mysore. soafter they filled up the questionnaire we grouped it under microsoft excel and
started to analyze them. now coming on to each question individually we have the
following interpretations to be made:
the analysis is based on the questionnaire provided to the customers in mysore city
the sample size taken for the study 50 repondents
Table -1
Table showing the perception of the dealer about the fabric
Opinion No of respondents
EXCELLENT 12
VERY GOOD 28
GOOD 10
AVERAGE 0
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32 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-1
Interpretation
The response above shows that, 80% respondents out of the 28 have a very good
perception about the Reid & Taylor fabrics. The reason for this perception may be due to
the quality, shade range, design range or may be due to the competitive cost. This clearly
unfolds as the other results are analyzed and interpreted.
12
28
10
0
No of respondents
EXCELLENT
VERY GOOD
GOOD
AVERAGE
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33 Growth of Reid & Taylor through Market Segmentation
Table -2
Table showing the order time taken by the dealer to order
the fabric
Opinion No of respondents
Once in a week 2
Once a month 30
Once a fortnight 10
quaterly 8
2
30
10
8
No of respondents
Once in a week
Once a month
Once a fortnight
quaterly
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34 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-2
While 60% out of the 30 respondents place their order once a month, only 24% purchase once a
fortnight and 9% once a quarter 7% in once a week.
The reason for placing orders may be due to the following factors:
Order quantity is high The fabric is being slow moving Credit terms could be unfriendly May be due to the distance.
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35 Growth of Reid & Taylor through Market Segmentation
Table -3
Table showing the material dealer most purchases
Materials No of respondents
Terry wool 3
100%cotton 15
Terry cotton 28
Cotton mix 0
Wool 100% 04
3
15
28
04
No of respondents
Terry wool
100%cotton
Terry cotton
Cotton mix
Wool 100%
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36 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-3
This table tends to show, about the movement of the fabric in the material most preferred
by the dealers. This tends to explain us which material the respondents provide most to
their customers. Amongst the 28 respondents, 51% of the respondents are of the opinion
that the purchase of the material most is terry cotton. Only 15 of the respondents are of
the opinion that they purchase material with 100% wool is being mainly for the suits,
jackets and safaris. 9% and 34% respondents respectively are of the opinion that they
purchase. Terry wool and 100% cotton materials. Through this we can arrive at the
conclusion that terry cotton is being fast moving in the market.
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37 Growth of Reid & Taylor through Market Segmentation
Table -4
Table showing the convincing factor that influenced the
dealer to take up the fabric
Convincing factor No of respondents
Cost 3
Durability 6
Design 4
Shade 2
quality 35
3
6
4
2
35
No of respondents
Cost
Durability
Design
Shade
quality
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38 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-4
This table mainly deals with the factors that impressed the dealers to take up the fabric
dealership. 51% out of the 35 respondents were of the opinion that the quality of the
fabric provided by the Reid and Taylor is good which made them to take up the
dealership. In their opinion the todays customers mostly see the fabrics quality rather
than any other factors. 17% , 20% and 6% of the respondents respectively are of the
opinion that they consider on the durability, design at the time of purchase, by their
customers, and 2 are of the durability, design at the time of purchase, by their customers,
and 2 are of the opinion that when the cost is high then they believe that it is obvious that
then the other factors of the product will also be good.
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39 Growth of Reid & Taylor through Market Segmentation
Table -5
Table showing the purchase of the fabric in accordance with the
price and age group
age group
price ranges
500-700 701-1200 1201-2000 2000-3000 & above
18-25 10 0 2 0 0
26-35 0 25 5 0 0
35-60 0 5 2 1 0
60& above 0 0 0 0 0
0
5
10
15
20
25
500-700 701-1200 1201-2000 2000-3000 & above
price ranges
18-25
26-35
35-60
60& above
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41 Growth of Reid & Taylor through Market Segmentation
TABLE -6
The table showing the purchase of the various fabric with respect to the age group.
age group
FABRIC RANGE
SUITS TROUSERS SAFARIS JACKETS
18-25 2 20 0 1
26-35 0 15 5 0
35-60 0 1 5 1
60& above 0 0 0 0
0
5
10
15
20
25
30
35
40
SUITS TROUSERS SAFARIS JACKETS
FABRIC RANGE
60& above
35-60
26-35
18-25
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42 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-6
This table mainly concentrates upon the fabric range the various age group customers buy
the most, in accordance with the dealers. The people in-between the age groups of 18-25
buy mostly trousers, amongst which 20, and 1 respectively buy suits and jackets. This
may be mainly because in this major customers are youngsters and professionals. The
customers who buy suits and jackets fall in the the category of professionals.
According to the dealers between the age group of 25-35 people buy both trousers
and jackets. The numbers of the people buying in this segment are 15 and 5 respectively,
but in this segment according to age only 3 of them go suits. In the same context when
we move of the age group or between 35-60. Most of the dealers i.e., 5 of them are of the
opinion that these groups of people buy mostly safaris there might be due to the age
factor. Refer (reference tables)
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43 Growth of Reid & Taylor through Market Segmentation
Table -7
The table showing the bifurcation of the customers in
accordance with the class they belong to
Class No of respondents
ELITE 8
HIGHER INCOMECLASS 36
MIDDLE INCOME CLASS 3
LOWER INCOME GROUP 3
8
36
3
3
No of respondents
ELITE
HIGHER INCOMECLASS
MIDDLE INCOME CLASS
LOWER INCOME GROUP
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44 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-7
In the bifurcation of the customers who visit the dealers, they were of the opinions that,
According to them 8 of their customers belong to the elite class i.e., of the higherincome group.
The first place was being provided according to the dealers was to higher income group,
which holds 36 of the dealers opinion intact. The middle higher income group and the
lower income group respectively are taking up the third and fourth place, as it is to be 3
and 3 respectively.
As being considering the above table we can infer that the elite and the middle
higher groups are being more potential towards buying the fabric of Reid & Taylor. Refer
(reverence table )
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45 Growth of Reid & Taylor through Market Segmentation
TABLE - 8.
TABLE SHOWING THE VARIOUS CUSTOMERS FROM
VARIOUS PROFESSIONS WHO BUY THE FABRIC
PROFESSION No of respondents
CEOS 0
HIGH CLASS EXECUTIVES 5
MIDDLE CLASS EXECUTIVES 6
POLITICIANS 0
STUDENTS 0
BUSINESS CLASS 35
RURAL CUSTOMERS 02
BUREAUCRATS 02
0
5
6
0
0
35
22
No of respondents
CEOS
HIGH CLASS EXECUTIVES
MIDDLE CLASS EXECUTIVES
POLITICIANS
STUDENTS
BUSINESS CLASS
RURAL CUSTOMERS
BUREAUCRATS
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46 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-8
The dealers are of the opinion that, when in the case of profession wise segmentation
various persons are his customers. But the business classes mostly prefer Reid and
Taylors fabrics. As these people are being financially sound and these people stand first
in the list of profession.
Next part of the maximum purchase according to the profession is being mainly in certain
seasons; those customers are the rural customers who are being mainly attracted towards
the ads in the television given by the company and these customers are being considered
as the most productive customers as they buy in large quantities.
The next part of the profession wise purchase move on to the high-class executive
amongst whom they are being given as 5.
The bureaucrats hold the last position in the opinion of the dealers.
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47 Growth of Reid & Taylor through Market Segmentation
Table -9
Table showing the backround of the customer
Region No of respondents
Urban 28
Semi-urban 12
Rural customer 10
28
12
10
No of respondents
Urban
Semi-urban
Rural customer
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Table -10
Table showing the ranking provided by the various fabric brands
Brands No of respondents
Raymonds 35
R&T 12
Digjam 3
Dinesh 0
ocm 0
35
12
3
0 0
No of respondents
Raymonds
R&T
Digjam
Dinesh
ocm
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50 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-10
The table shows the fabric brands rankings given by the dealers, the dealers were being
asked to rank the various brands which are being playing a vital role in the market, as far
as the opinion of the dealers they have rated Raymond as the no. I brand, in which 60%
of the respondents are of this opinion, living behind Raymond the next best is being
given to Reid & Taylor for which 23% of them have voted. Similarly 20% and 7%
respectively are being given their votes to Digjam and Dinesh. Urban dealers are giving
most of these ratings.
This rating is being mostly provided by the dealers, by taking in to consideration the
quality, shade range and the cost factor.
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Interpretation for the above table and chart-11
This table shows, the level of satisfaction regarding the services provided by Reid &
Taylor.
Amongst the 36 respondents / dealers 80% of them are of the opinion that the
level of service is considered as good and 14 of them considered the service as very good.
This may be due to the frequent visit of the company executive to solve the
problems or may be regarding the issue of order taking, may with regards to the various
schemes etc.
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53 Growth of Reid & Taylor through Market Segmentation
TABLE-12
TABLE SHOWING THE AWEARENESS OF THE
CAMPAIGNOF R&T
MEDIA No of respondents
ELECTRONIC 26
PRINT 12
OUTDOOR PUBLICITY 12
26
12
12
No of respondents
ELECTRONIC
OUTDOOR PUBLICITY
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54 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-12
This part of the table is being meant to know about the awareness of Reid & Taylor and
its campaign.
Where in amongst the 26 dealers, 66% of them are the opinion that they are aware
about the campaign through electronic media, out of the 12 and 12, subsequently
for the rest 24% are of the opinion that they are aware about the outdoor publicity
provided by Reid and Taylor. As electronic media is being considered as the most
effective form of campaign for any product, and this brings a sort of awareness to
the viewers of the product.
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55 Growth of Reid & Taylor through Market Segmentation
TABLE -13
Table showing the season sales of the worsted fabrics
seasons
FABRIC RANGE
SUITS TROUSERS SAFARIS JACKETS
marriage 18 0 5 1
winter 0 12 5 8
beginning of the month 0 5 0 0
summer 1 0 0 0
any time 0 0 0 0
0
2
4
6
8
10
12
14
16
18
20
marriage winter beginning of
the month
summer any time
FABRIC RANGE SUITS
FABRIC RANGE TROUSERS
FABRIC RANGE SAFARIS
FABRIC RANGE JACKETS
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56 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-13
The table mainly concentrates upon the sales in various seasons of the worsted fabrics.
Where in the fabric range is being provided and seasons are being mentioned. According
to the dealers the sales of the suits are being considered to be more in the season of
marriage. And two of the respondents are of the opinion that safaris sale is being more in
marriage season.
In the season of winter, the sales of the fabric according to the dealers are more amongst
the jackets range. The respondents to this category are 7 only one respondent is of
opinion that the sale of the trousers is more, in this season.
At the beginning of the month according, to 5 respondents the sale of the trousers
had been more, as it is been considered as the salary time for the persons. Refer
(reference tables)
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57 Growth of Reid & Taylor through Market Segmentation
TABLE -14
Table showing the reasons for taking up dealership of reid &
taylor
Reason No of respondents
Ads in Tv 35
The agent of the company 5
Ad in print 3
The mill officer 10
Any other 02
355
3
10
2
Ads in Tv
The agent of the company
Ad in print
The mill officer
Any other
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58 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-14
. This table mainly deals with the aspect that made the dealers to take up the dealership of
Reid and Taylor. According to 35 out of the 50 respondents were of the opinion that the
reason that impressed them the most is Ads in the T.V. 10 out of the 50 respondents areof the opinion that the mill person by the co made them to take up the dealership of Reid
and Taylor .5, 3 and 2 respondents respectively are of the opinion that the reason was to
due to the influence of the co agent and the print medium and others.
This is being mainly because of electronic media through which dealers are being
attracted through various no. of Ads and clippings.
This is mainly considered because has the electronic media is an effective source
which can reach member of the masses effectively and efficiently.
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59 Growth of Reid & Taylor through Market Segmentation
TABLE-15
Table showing the major focus of the customer on the purchase of
the fabric
Reasons No of respondents
Brand loyalty 34
Ads 16
Friends advice 0
Others 0
0
5
10
15
20
25
30
35
Brand loyalty Ads Friends advice Others
34
16
0 0
No of respondents
percentage
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60 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-15
This table mainly deals, with the major focus of the customer on the purchase of the
fabric, according to the dealers experience. Where in according to the dealer, the
customer sees the brand loyalty amongst 34 of the dealer are of this opinion. The other 16
of the 50 are of the opinion that the customers major focus is on the Ads in the news
papers and T.V. and only 0 are of the opinion that the customers buy with the impulsive
of their friends advice.
This is mainly because of the reasons that when the brand has got a good image in the
market i.e., about the brands quality, shade and other various aspects. It is pretty obvious
that the customers go for that brand itself and the brand has earned a sort of loyalty in the
minds of the customers and therefore it is preferred by most of the respondents.
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61 Growth of Reid & Taylor through Market Segmentation
TABLE -16
Table showing the purchase decision & priorities of the customers
Opinion No of respondents
Shade range 5
Cost factor 7
Durability 8
Quality 25
design 5
5
7
8
25
5
No of respondents
Shade range
Cost factor
Durability
Quality
design
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62 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-16
This table is mainly shows upon, the purchase decision priorities of the customer
according to the dealers is being descried. According to the dealers the first purchase
decision priority provided by the customers is on the basis of quality where in about 25 of
the dealers are of this opinion. The Second best priority is on the basis of durability i.e., 8
of the dealers are of this opinion because the customer are of the opinion that, if they buy
the fabric, that baric needs to be with them for a longer time. 5,5,&7 of the dealers are of
the opinion that their customer precisely are the cost factor and the design factor equally
but where
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63 Growth of Reid & Taylor through Market Segmentation
Analysis of the customers
NOTE:
we had earlier given the questionnaire to the respondents ie customersin , mysore.so after they filled up the questionnaire we grouped it under microsoft excel and
started to analyze them. now coming on to each question individually we have the
following interpretations to be made:
the analysis is based on the questionnaire provided to the customers in mysore city
the sample size taken for the study 50 repondents.
Table -1
Table showing the purpose or reason for buying reid and taylor
fabrics
reasons No of respondents(50)
Old or worn out 5
Special occasion 7
Official wear 8
Regular wear 25
Impulse purchase 5
Due to climate change 0
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64 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-1
The main purpose for buying the Reid &Taylor fabric according to the customer is that,
when a regular wear if any, in this category 25 of them fall in. 5 of the respondents are of
the opinion that the fabric is being purchased when the old fabric is worn and for the
office wear.8 of them are of the opinion that purchase the fabric for the office wear.5 is of
the opinion that, they were impulse to purchase the Reid & Taylor Fabrics.
5
7
8
25
5
0
No of respondents
Old or worn out
Special occassion
Official wear
Regular wear
Impulse purchase
Due to climate change
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65 Growth of Reid & Taylor through Market Segmentation
TABLE -2
Table showing the fabric ranking by the customers
Brands No of respondents RANK
Raymonds 35 1
R&T 12 2
Digjam 3 3
Dinesh 0 0
ocm 0 0
0
5
10
15
20
25
30
35
Raymonds R&T Digjam Dinesh ocm
35
12
3
0 0
No of respondents
No of respondents
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66 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-2
This table is mainly shows the ranking given by the customer.
Accordingly customer/respondent has ranked Raymonds as the first; the second
place is being given to Reid & Taylor. But for the third place there is a tie between Vimal
& J. Hampstead and finally Dinesh has been ranked the fifth. In this all the income
groups are of the same opinion.
This opinion is being provided by the customer on the basis of the quality of the
fabric, shade range, the design, the design range and the cost factors
The tables clearly shows that Raymonds ranks first and Reid and Taylor stands second in the
market subsequently we can see that Digjam and other brands follow. Raymonds leads in the
branding sector in the eyes of the customer.
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67 Growth of Reid & Taylor through Market Segmentation
TABLE-3
Table showing brand association of reid and taylor
Brands No of respondents (50)
IMPORTED SUITINGS 12
SUITINGS IN GENERAL 35
LADIES DRESS WEAR 3
WOOLEN WORSTED SUITINGS 0
RMG 0
12
35
3
0 0
No of respondents (50)
IMPORTED SUITINGS
SUITINGS IN GENERAL
LADIES DRESS WEAR
WOOLEN WORSTED SUITINGS
RMG
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68 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-3
This table is mainly shows brand association of reid and taylor.
About 50 of the respondents are of this opinion. About 35 respondents are of the opinion
that Reid & Taylor is being brand associated with suitings in general, 12 respondents for
imported suitings & 3 respondents for ladies dress wear.
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69 Growth of Reid & Taylor through Market Segmentation
TABLE-4
Table showing the purchase trend of reid and taylor fabr ic
OPINIONS No of respondents
YES 35
NO 12
35
12
No of respondents
YES
NO
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70 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-4
As Raymonds are giving their fabric at a cheaper rate, the price range of the fabrics starts
from Rs 150. But where as the Reid & Taylor are giving better quality than the
Raymonds, their price range starts from Rs 350.
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71 Growth of Reid & Taylor through Market Segmentation
TABLE-5
Table showing the purpose for the purchase
purpose for the purchase No of respondents
SUITS 26
JACKETS 12
TROUSERS 10
SAFARIS 2
26
12
10
2
No of respondents
SUITS
JACKETS
TROUSERS
SAFARIS
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72 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-5
This table suggests us about current brands of Reid & Taylor in the market in accordance
to the respondents; Reid & Taylor concentrates on the suitings in general. About 40 of the
respondents are of this opinion. About 32 respondents are of the opinion that Reid &
Taylor is being associated with imported fabrics & only 3 are of the respondents lie in-
between the income group of 1.5 lakhs to 2 Lakhs. When the age group is being
considered the respondents are mainly are in between the age group of 25-35.
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73 Growth of Reid & Taylor through Market Segmentation
TABLE-6
Table showing the time of purchase of worsted fabric
purpose for the purchase No of respondents
NEXT PURCHASE 26
IF YOU LIKE THE RANGE 12
IF IT SUITS MY POCKETS 10
NOT AT ALL 2
26
12
10
2
No of respondents
NEXT PURCHASE
IF YOU LIKE THE RANGE
IF IT SUITS MY POCKETS
NOT AT ALL
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74 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-6
For this 38 out of the 50 respondents have positively replied. Only 10 out of the 50 people who
have not purchases Reid & Taylor.
Major portion of the people belonging to high & middle income group are interested
towards the fabric.
For thae same major amount of the customer have responded that is 26 of them, they
purchase the fabric for making suits and about 22 of the purchase for trouser among the 12
respondents major portion of about 5% are from the higher income group and about 5% are from
higher middle income group. Their age group mainly varies from 30-45. The other 22 are from
the middle income group, and their age group varies from 25-35. To the subdivision for the
jackets and safaris are being listed as 3 and 8 where in this age group of above 40 have been
interested more. Refer (reference tables)
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75 Growth of Reid & Taylor through Market Segmentation
TABLE -7
TABLE SHOWING THE VISIT TO THE SHOP
OPINION No of respondents
YES 38
NO 12
38
12
No of respondents
YES
NO
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76 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-7
This table mainly considers, about the visit of the respondent where in 38 respondent
given their opinion that they have visited the Reid and Taylor outlet out of 50
respondents. Rest of the 12 respondents has given their opinion that they have not visited
the shop. This shows that, the customers would not afford to purchase the fabric because
of the cost factor and might be due to the distance from where the customers are situated,
amongst the 38 respondents almost about 90% of the respondents are from the urban
region. And remaining 10% are from the semi -urban region.
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77 Growth of Reid & Taylor through Market Segmentation
TABLE-8
Table showing perception on quality of the fabric
OPINION No of respondents
QUALITY IS GOOD 26
SATISFACTORY 12
QUALITY AND PRICE REASONABLE 12
26
12
12
No of respondents
QUALITY IS GOOD
SATISFACTORY
QUALITY AND PRICE REASONABLE
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78 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-8
This table deals with the quality of the fabric where in about 26 respondents are of the
opinion that the quality provided by Reid &Taylor is good, 12 are of the opinion that the quality
is being reasonable in nature and four amongst the 50 respondents are of the opinion that, it is
satisfactory.
These 12 respondents are of this opinion because as these respondents don't have a much
exposure to the fabrics of Reid &Taylor.
This shows that there is no negative response. The company enjoys a good image with thecustomers. the company should try to sustain this image in future also.
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79 Growth of Reid & Taylor through Market Segmentation
TABLE-9
Table showing perception of reid and taylor fabric price
OPINION No of respondents
VERY COSTLY 26
HIGH 12
REASONABLE 12
LOW 0
VERY LOW 0
26
12
12
0 0
No of respondents
VERY COSTLY
HIGH
REASONABLE
LOW
VERY LOW
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80 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-9
When asked about the perception of the customer towards the pricing of the fabric 26 amongst
the 50 respondents were of the opinion that the reid & taylor pricing very high in nature,12 of the
respondents were of the opinion that the pricing is high, and subsequently 12 of the respondents
are of the opinion that the pricing is reasonable in nature
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81 Growth of Reid & Taylor through Market Segmentation
TABLE-10
Table showing the sources which let you known about reid and taylor
OPINION No of respondents
NEWSPAPERS/MAGAZINES 26
TELEVISION 8
FRIENDS 12
OUTDOOR PUBLICITY 4
OTHERS 0
26
8
12
4
0
No of respondents
NEWSPAPERS/MAGAZINES
TELEVISION
FRIENDS
OUTDOOR PUBLICITY
OTHERS
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82 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-10
This table mainly shows about the brand known by various sources.
Wherein 08 of the respondents know about the brand from the television, 12 of them
know about from their friends and relatives and from news papers /magazines and only 4 of the
respondent knows from outdoor publicity.
The lions of the brand awareness of reid & taylor can be described as news papers and
magazines where in out of 50 respondents 26 are of this opinion
This is being mainly because the out door publicity is has not given more emphasis by
Reid &Taylor.
This clearly show that, the majority of the respondents had given their opinion that, they
had come to know from T.V advertisements by the company. The company needs to give
advertisements in the regional language channel through which it reaches large masses of the
society through which the advertisement enhance the company sales.
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83 Growth of Reid & Taylor through Market Segmentation
TABLE -11
TABLE SHOWING THE AVAILBILITY OF THE FABRIC
OPINION No of respondents
YES 38
NO 12
38
12
No of respondents
YES
NO
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84 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-11
This table mainly considers about the availability of fabric in the shops. 38 out of the 50respondents agreed that there is availability of Reid and Taylor fabric in all leading shops and 12
of respondents are of the opinion that they don't find the fabric of Reid and Taylor in many
shops. As these 9 people are mainly from the semi-urban or from rural region.
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85 Growth of Reid & Taylor through Market Segmentation
TABLE-12
TABLE SHOWING THE PRICE RANGE OF THE PURCHASE OF
DIFFERENT FABRICS
CATEGORY
price ranges
400-700 701-1200 1201-2000 2000-3000 & above
TROUSERS 10 0 2 0 0
SAFARI 0 25 5 0 0
SUITS 0 5 2 1 0
JACKETS 0 0 0 0 0
10
0
2
0 0
price ranges 400-700
price ranges 701-1200
price ranges 1201-2000
price ranges 2000-3000
price ranges & above
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86 Growth of Reid & Taylor through Market Segmentation
Interpretation for the above table and chart-12
This table emphasizes on the price range of the fabric and to know about how the
purchase moves. For the trousers 10 of the respondents have emphasized in buying fabric from
400-700 range, 0 of them buy fabric from the range of 701 -1200, only one respondents is of the
opinion that he buys the product between the range of 1201-1600 these respondents are from
higher income group and from the age group of 35-45.
Whereas for the safaris the range of 701-1200were the No. of respondents are 25. and
only 5 of the respondents choose the price range of 2000 and above, mainly these person come
under the higher income group. For the suit
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