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CONSUMER BEHAVIOUR
MARKET SEGMENTATION
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It is a method of dividing the largemarket into smaller grouping of
consumers or organizations inwhich each segment has acommon characteristics
Market segmentation consists oftaking the total heterogeneousmarket for a product and dividinginto several sub markets or
segments ,each of which tend to
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Criteria For MarketSegmentation
Identity
Accessibility
Responsiveness
Size
Measurability
Nature of demand
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Bases For Segmentation
Geographic segmentation
Demographic segmentation
psychological segmentation
Psychographic segmentation
Socio -cultural segmentation
Use related segmentation
Use situation segmentation Benefit segmentation
Hybrid segmentation
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Geographic segmentation
Market is divided by location
Region
City size density of area
climate
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Demographic segmentation
Demography refers to the vital andmeasurable statistics of population
It helps to locate the target market Age Sex
Marital status
Income Education
Occupation
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Psychological segmentation
Motivation
personality
PerceptionLearning involvement
Attitudes
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Psychographic Segmentation
Life style segmentation
Economy minded
Couch potatoes Outdoor enthusiastic
Status seekers
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Cultures
Religion
Sub Culture Social Class
Family Life cycle
Socio Cultural segmentation
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Use related segmentation
Usage rate
Awareness status
Brand loyalty
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Use - situation segmentation
Time
Objective
Location Person
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Benefit segmentation
Convenience
social acceptance
long lasting economy
value for money
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Hybrid segmentation
Demographic/ psychographic
Geodemographics
SRI VALS
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Selecting the marketsegment
single segment concentration selective specialization
Full Coverage
Market specialization
product specialization
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Segmentation process
Analyze the needs of theconsumer s
Analyze the characteristics of theconsumers
Disaggregate consumer intosuitable segments
Formulate different marketing mixfor different segments
Feedback from various segments
Select the higher potential segment
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Advantages of segmentation
Identify potential customers
pay proper attention to particular
area Formulate marketing programs
select channels of distribution
Design marketing mix
Sales promotion
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Segmentation of markets forindustrial goods
Geographical area
Product related factors
type of buying situation
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Segmentation bases forinstitutional market
customer size
Purchasing methods and policies
Geographical location
kind of organization