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Market Segmentation Rajwade1

Market Segmentation Rajwade1

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Published by: ishitaaaa on Jan 27, 2010
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V.G VAZE KELKAR COLLEGEV.G VAZE KELKAR COLLEGEOF ARTS, SCIENCE AND COMMERCEOF ARTS, SCIENCE AND COMMERCECOURSE: - BACHELORS IN MASS MEDIACOURSE: - BACHELORS IN MASS MEDIAYEAR: - THIRD YEAR BACHELORS IN MASS MEDIAYEAR: - THIRD YEAR BACHELORS IN MASS MEDIASEMESTER: - VI (ADVERTISING)SEMESTER: - VI (ADVERTISING)SUBJECT: - DIRECT MARKETINGSUBJECT: - DIRECT MARKETINGTOPIC: - MARKET SEGMENTATION AND TARGRTINGTOPIC: - MARKET SEGMENTATION AND TARGRTINGSUBMITTED BY: - ESHITA ASWANI A005SUBMITTED BY: - ESHITA ASWANI A005CHANDRIMA GHOSH A015CHANDRIMA GHOSH A015SUBMITTED TO: - PROF RAJWADESUBMITTED TO: - PROF RAJWADEDATE OF SUBMISSION:-14DATE OF SUBMISSION:-14
THTH
JANUARY 2010JANUARY 2010
 
ACKNOWLEDGEMENTACKNOWLEDGEMENT 
We hereby thank our assignment guide Prof.Rajwade for giving us theassignment and for guiding us in this project without which it would havebeen an incomplete attempt.
ISHITA ASWANI A005ISHITA ASWANI A005CHANDRIMA GHOSH A015CHANDRIMA GHOSH A015
 
 
MARKET SEGMENTATION AND TARGETINGMARKET SEGMENTATION AND TARGETINGMARKET SEGMENTATIONMARKET SEGMENTATION
INTRODUCTION: -INTRODUCTION: -
The market for any product is normally made up of severalsegments. A ‘market’ after all is the aggregate of consumers of a given product.And, consumer (the end user the end user), who makes a market, are of varying characteristicsand buying behavior. There are different factors contributing for varying mind setof consumers. It is thus natural that many differing segments occur within amarket.In order to capture this heterogeneous market for any product, marketers usuallydivide or disintegrate the market into a number of sub-markets/segments and the process is known asmarket segmentationmarket segmentation.Thus we can say that market segmentation is the segmentation of markets intohomogenous groups of customers, each of them reacting differently to promotion,communication, pricing and other variables of the marketing mix. Marketsegments should be formed in that way that difference between buyers within eachsegment is as small as possible. Thus, every segment can be addressed with anindividually targeted marketing mix.The importance of market segmentation results from the fact that the buyers of a product or a service are no homogenous group. Actually, every buyer hasindividual needs, preferences, resources and behaviors. Since it is virtuallyimpossible to cater for every customer’s individual characteristics, marketers groupcustomers to market segments by variables they have in common. These commoncharacteristics allow developing a standardized marketing mix for all customers inthis segment.Through segmentation, the marketer can look at the differences among thecustomer groups and decide on appropriate strategies/offers for each group. This is precisely why some marketing gurus/experts have described segmentation as astrategy of 
dividing the markets for conquering them.dividing the markets for conquering them.MARKETING STRATEGY AND MARKET SEGMENTATION: -MARKETING STRATEGY AND MARKET SEGMENTATION: -
When itcomes to marketing strategies, most people spontaneously think about the 4P

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