Consumer Behavior Analysis, Segmentation, demographic segmentation
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The document discusses market segmentation based on various consumer characteristics such as age, income, family status, education, ethnicity, and usage frequency. It highlights the importance of effective segmentation to enhance competitiveness, profitability, and market expansion while also identifying potential pitfalls in the process. Additionally, it categorizes different consumer segments and their attributes, illustrating the complexities of targeting diverse groups.
Consumer Behavior Analysis, Segmentation, demographic segmentation
- 1. SubmittedBy- • Mustahid Ali • Soumya Mukherjee • Bhavesh Bhansali • Sachin Pratap Singh • Nivedita SubBaram • Megha Malviya
- 5. Age Some products are marketed to specific age groups
- 6. Dr. Rosenbloom Income Level Some products are marketed to consumers with different income levels
- 7. Family Some products are marketed to consumers with special family consideration Family Life Cycle Bachelor, marriage, married with children, retired, etc.
- 8. Education Some products are marketed to consumers with certain educational levels
- 9. Ethnicity Some products are marketed to consumers from specific ethnic backgrounds
- 10. Region Size of metropolitan area Population density Climate
- 11. Markets can be segmented by how often or how heavily consumers use a specific product 80/20 Principle - 80% of revenue generated by 20% of customers Light Users Heavy Users
- 12. Grouping customers together based on: Social class Lifestyles Psychological characteristics (attitudes, interests and opinions)
- 13. 1) Focus of the Company 2) Increase in competitiveness 3) Market expansion 4) Increases profitability
- 14. 1) Segments are too small 2) Consumers are misinterpreted 4) There are too many brands 3) Costing is not taken into consideration
- 16. Lets take an example to illustrate Segmentation:
- 17. Too much Work Pressure Do not differentiate among products/Services Usually Wants a way out Are not Brand Loyalists Price not an issue Mr/Ms Tender Not too much Work Pressure Differentiates among products/Service Takes Care before selecting a Product/Service Are Brand Loyalists Price may or may not be an issue Segmentation
- 18. The High school Diva Image and Look Conscious Differentiates among products/Service Takes Care before selecting a Product/Service Nothing better than being Popular Price may or may not be an issue The Geeky Geeks Differentiates among products/Service Takes Care before selecting a Product/Service Loves to play around with new Softwares Love Comics Price may or may not be an issue
- 19. Advertisers Differentiates among products/Service Takes Care before selecting a Product/Service Price not be an issue In the Rush for Promoting Good Revenue Generator Busy Bee 27% High School Diva 23% Advertiser 23% Mr/Ms Tender 18% Geeky Geek 9% Strenth (%)
- 20. Age (Years) Sex Care Quotient Narcissism Work Level Tech Savvy Occasion Driven Segment Attractivenes s Busy Bees 30-50 Male Low Low/Medium Very High High Very High Very High Low Mr/Ms Tender 20-40 F/M Very High Low High/Medium Medium High High Medium The High School Diva 16-23 Female High Very High Low High Medium Very High High The Geeky Geeks 17-25 Male Medium/Low Low/Medium Low Very High Low High High Advertisers 25+ M/F High Medium/High High/Medium High Very High High Low