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SHODH PRINCIPLES IN SEGMENTATION 1.Scientific qualitative & quantitative tools for identifying segments & positions 2.Multiple means to segment consumers based on - Industry characteristics - Consumer characteristics 3.Assess market attractiveness in terms of structure,processes,technologies,skills, competencies
Effective marketing planning process based on consumer orientation By devising a distinct marketing mix to address a segment, one creates competitive advantage for the company Can lead to segment dominance & financial gains over rivals Can lead to concentration of resources in segments where returns are high
EXAMPLES
VALS SYSTEM: I Step : - identifies 4 broad types of consumers on: * Need drivers * Outer directed * Inner directed * Integrated attributes II Step : Identifies all segments in terms of demographics
Activities - work, hobbies, social events, vacation, entertainment, club membership, career, shopping, sports Interests Family, home, job, community, recreation, fashion, food, media, achievements Opinions selves, social issues, politics, business, education, products, future,culture economics,
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