ppt on Market segmentation
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Market segmentation is the process of dividing potential customers into groups based on shared characteristics, enhancing targeting and marketing efficiency. It involves segmenting by demographics such as gender, age, income, and occupation to better match products with consumer needs. This strategy aims to increase sales, improve resource allocation, and provide a competitive advantage in the marketplace.
ppt on Market segmentation
- 1. Market segmentation Presented by – APURV KUMAR MAURYA MONIRBA(PRAYAGRAJ)
- 2. Market Actual and potential buyers of a product or service. Market Segmentation The process of dividing the market into subgroups of similar customers. Market Segments Subgroups of people that share similarities which can be used for more efficient seller/buyer relationships. Target Groups Subgroups of people that presents the greatest opportunity for targeting.
- 3. Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.
- 4. Why do we segment? 1- Increased understanding of customer wants and desire 2- Different products for different groups 3- Better match between customer wants and product benefits 4- Maximize the use of available resources 5- Focused marketing expenditures 6- Competitive advantage
- 5. Basis of Market Segmentation
- 6. Gender 1- The marketers divide the market into smaller segments based on genders. 2- Both men and women have different interest and preferences, and thus the need for segmentation. 3- Organizations need to have different marketing strategies for men which would obviously not work in case of females.
- 7. Age Group Division on the basis of age group of the target audience is also one of the ways of market segmentation. The products and marketing strategies for teenagers would obviously be different than kids. Age group (0 - 10 years) - Toys, Nappies, Baby Food, prams. Age Group (10 - 20 years) - Toys, Apparels, Books, school Bags Age group (20 years and above) - Cosmetics, anti –ageing Products, Magazines, apparels and so on.
- 8. Income Marketers divide the consumers into small segments as per their income. Individuals are classified into segments according to their monthly earnings. The three categories are: 1- High income Group 2-Mid Income Group 3-Low Income Group store catering to the higher income group would have different range of products and strategies as compared to stores which target the lower income group.
- 9. Occupation Office goers would have different needs as compared to school / college students. A beach house shirt or a funky T Shirt would have no takers in a Zodiac Store as it caters specifically to the professionals
- 10. Segments
- 11. Common segmentations variables for consumer markets
- 12. How to assess segments? Commonly used criteria ,segments should be: *Substantial *Accessible *Measureable *Differentiable
- 13. How to select segments for targeting? 1- Available company resources 2- Segment growth potential 3- Segment profitability 4- Competitive environment 5- Company long term objectives
- 15. • To generate higher sales volumes. • To increase the efficiency and effectiveness.
- 16. • To find a market with limited competition. • Select the most profitable segment.
- 17. How to segment your traffic to increase leads and conversions?
- 18. • It allows you to develop products at a lower cost. • Maximize scarce marketing resources.
- 19. • Now that you understand the purpose of Segmentation, • Here are ways to begin segmenting and converting your own website traffic:
- 20. • 1- Segment leads from the get-go • 2- Offer a personalised recommendation
- 21. • 3- Optimize your content and messaging. • 4. Personalised nurturing e-mails.
- 22. THANK YOU