Market Segmentation

It is a process of dividing the total, heterogeneous market for a product into several sub-markets or segments, each of which tends to be homogeneous in all significant aspects

-William Stanton

It is a process of identifying groups of buyers with different desires or requirements

-Philip Kotler

Market Segmentation

Refer Allen Weisssegmentation Allen Weiss.pdf PDF file

Bases of Segmentation

Geographic

Demographic

Psychographic

Behavioural

GEOGRAPHIC

NATIONS STATES REGIONS CITIES NEIGHBOURHOODS

DEMOGRAPHIC AGE FAMILY SIZE FAMILY LIFECYCLE GENDER INCOME OCCUPATION EDUCATION RELIGION

DEMOGRAPHIC…..

NATIONALITY SOCIO ECONOMIC CLASS (SEC)

PSYCHOGRAPHIC

LIFESTYLE

PERSONALITY

VALUES

BEHAVIOURAL

OCCASIONS BENEFITS USER STATUS USAGE RATE LOYALTY STATUS BUYER-READINESS STAGE ATTITUDE

Market Targeting Strategies M1 M2 M3

P1

P3

P2

SINGLE SEGMENT CONCENTRATION

Market Targeting Strategies M1 M2 M3

P1

P3

P2

SELECTIVE SPECIALISATION

Market Targeting Strategies M1 M2 M3

P1

P3

P2

PRODUCT SPECIALISATION

Market Targeting Strategies M1 M2 M3

P1

P3

P2

MARKET SPECIALISATION

Market Targeting Strategies M1 M2 M3

P1

P3

P2

FULL MARKET COVERAGE