IDENTIFYING MARKET SEGMENTS AND TARGETS

C-40: Kriti BadhwarC-41: Rohit Paudel

C-42: Tanmaye GuptaC-43: Angelique Thakur

C-44: Rohan Vohra

SEGMENT MARKETING

Identify the needs of

consumers by groups then direct marketing efforts to make a larger

impact.

Offer better design, price,

communicate and deliver

product or service.

Fine-tune marketing strategy

and activities

to compete against rivals.

Address consumers’

needs without forcing them to look for

items that they

desire.

Flexible market

offerings to all

members of a

segment

Lufthansa Airlines

First Class

Business ClassEconomy Class

LOCAL MARKETING

The strategy and actions that communicate to your customers in a manner, and with a message, that is relevant and meaningful based upon localized differences.

Also called “Grassroots Marketing” The key dimensions of Local

Marketing are: Segmentation, Media and Messaging

NICHE MARKETING Focus on a small segment of people unique and similar needs Highly customised Opposite of mass marketing Market research imperative

BANKING SECTOR

Investment products Home loans Vehicle finance Financial planning Personal loans Private Banking

Source: http://www.siliconindia.com/finance/news/13-Best-Banks-of-India-nid-134523.html

BEST AMONG THE REST

Source: http://www.siliconindia.com/finance/news/13-Best-Banks-of-India-nid-134523.html

HDFC: Best Retail bank; private sector 

Standard Chartered Bank: Best SME finacing; foreign banking

Allahabad Bank: Most consistent performer in Priority Sector Lending

State Bank Of India: Technology Adoption - Public Sector

BEST AMONG THE REST

FAIRNESS CREAMS MARKET

MEN’S GROOMING PRODUCTS: THE NEW EMERGING MARKET IN INDIA- A CASE STUDY ON EMAMI FAIR & HANDSOME-CHANDRA KANT SHARMA

Source: Indian Journal Of Marketing

04/11/2023

FAIRNESS CRAZE

Market size : ₹ 800 crore Market growth rate : 15- 20 % y-o-y Leading players:

HUL’s fair & lovely: 76% Calvin care’s fairever: 15%

Males constitute 20% of the sale of fairness creams The Indian male took an average of 20 minutes vs the

Indian female’s 18 minutes! 25-30% of fairness products purchased and used by

men They saw a lucrative opportunity. Decided to delve

deeper into this ‘fairness craze’

Source: Indian Journal Of Marketing

SEGMENTATION & POSITIONING Region: South Rural/Urban:

Urban Age: 15-35 years Gender: Male

• Positioned as a fairness cream that can make men handsome and attractive to girls

• 5 power fairness system: – Double strength peptide

complex– Sunguard– Stress buster– Anti- bacplus– Herbo cool

• Get fair in four weeks

GEOGRAPHICAL SEGMENTATION

Division of the market into different geographichal units viz; regions,

countries ,cities or neighbourhood

Consumer’s taste , habits and preferences

Flexibility of the product to go national from domestic

PROBABILITY

The probable chance of a good / bad investment in food depending on taste , preference and location of

consumer

NEED VS REQUIREMENTS

Depending upon climatic conditions and other factors too the need and requirements are derived

CASE: LIFEBUOY VS NIRMA

Lifebuoy’s first step in India without deep study of Indian market led to obstacles in growth which ultimately led to diversified geographical location with a greater innovation in PLC too

Nirma being the Indian brand made its fine mark in all the locations irrespective of the major chunks/ big players who were the fine players , and Nirma being the newly introduced one , a deep and thorough study of every factor depending on requirements , needs , hygiene and all other basic factors

DEMOGRAPHIC SEGMENTATION

•Most commonly used and easily identifiable

•Variables help in dividing into specific customer groups

•Helps in MASS MARKETING

DEMOGRAPHIC VARIABLES

Age and Life-Cycle StageLife Stage

Gender

Income

Generation

Social Class

CONSUMER WANTS AND ABILITIES CHANGE WITH AGE

Babies

Children

Youth & Teenager

s

Old Age

Age and Life-Cycle Stage

Life Stage

Marriagebuying a house starting a family retirement

Gender

Product Positioning New Product

Category

“aims to change the status quo and offer in its place a broader, healthier, more democratic view of beauty”

Campaign for Real Beauty

“FORTUNE AT THE BOTTOM OF THE PYRAMID”

Income

“VALUE FOR MONEY”

“Sachet Marketing”

COHORT EFFECT IS A TENDENCY AMONG MEMBERS OF A GENERATION TO BE INFLUENCED AND DRAWN TOGETHER BY SIGNIFICANT EVENTS OCCURRING DURING THEIR KEY FORMATIVE YEARS

Generation

Disney KidSense 2007

Social Class

Caste System

Income Level

Socio Economic Factors

EducationOccupation

PSYCHOGRAPHIC SEGMENTATION

Psychographic Segmentation

Lifestyle and values Social Status Personality

LIFESTYLE AND VALUES

• Introduced vegetarian burgers in the Indian market keeping in mind the sentiments and the values of the purely vegetarian Indian families

• Also McDonalds did not introduce their most famous beef burger “Big Mac” because it might hurt the sentiments of the customers in the Indian market.

• McDonald's understand that tastes vary around the globe.

• But instead of simply duplicating local favourites, we take what's familiar and put a McDonald's twist on it.

• You can order up a Quiche de Queijo (cheese quiche) in Brazil, Red Bean Pie in Hong Kong (where red beans are commonly used in desserts), and traditional Caldo Verde soup (made with cabbage, kale, onion, potato and chorizo) in Portugal.

SOCIAL STATUSDatawind’s Ubislate 7+

Apple’s IpadAmazon’s Kindle Fire

PERSONALITY

• “Made like a Gun”. The ultimate comfort bike in India.

• Loyal customers but very less market share due to outdated technology.

• Senior managers at Eicher Motors faced a tough choice. For that they wanted to modernise the bikes to appeal to a wider customer base. But existing customers wanted their Bullets just the way they had always been.

CONT.

THE PROBLEMDespite the bikes' fan following, the motorcycle division was bleeding

THE WAY OUTAppealing to a wider base, making the products more reliable

THE CHALLENGEModernising the bikes without taking away their unique identity

THE SUCCESSModern technology used, but vintage look retained; improved management practices

BEHAVIORAL SEGMENTATION

Behavioral Segmentatio

n

Benefits Occasion Usage

BENEFITS

Kills germs100% protection everyday

Keeps your hands soft and clean

OCCASION

USAGECustomers can be segmented on the basis of usage status- heavy users, light users & non-users of a product category. The profiling of heavy users allows this group to receive most marketing attention (particularly promotion efforts) on the assumption that brand loyalty among these people will pay heavy dividends.

THANK YOU