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What |s Market Segmentat|on?

W lL ls Lhe subdlvldlng of Lhe markeL lnLo
homogenous subsecLlons of cusLomers
where any subsecLlon may concelvable be
selecLed as a markeL LargeL Lo be reached wlLh
a dlsLlncL markeLlng mlx
W A markeL segmenL conslsLs of a large
ldenLlflable group wlLhln a markeL A flrm
recognlzes LhaL buyers dlffer ln Lhelr wanLs
purchaslng hablLs buylng aLLlLudes eLc eg
an lnsLanL shelLer company may ldenLlfy slx
broad segmenLs PoLels Cpen alr resLauranLs
clubs 8esorLs 1emporary markeLs and
CovernmenL agencles
ef|n|t|on
W #MarkeL segmenLaLlon conslsLs of Laklng Lhe
LoLal heLerogeneous markeL for a producL and
dlvldlng lL lnLo several submarkeLs or
segmenLs each of whlch Lends Lo be
homogenous ln all slgnlflcanL aspecLs" 8y
W!SLanLon
rlLerla for markeL segmenLaLlon
W ent|ty
W Access|b|||ty
W kespons|veness
W S|ze
W Measurab|||ty
W Nature of eman
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W Ceographlc segmenLaLlon
W uemographlc segmenLaLlon
W Lconomlc segmenLaLlon
W sychographlc segmenLaLlon
W 8uyer behavlor segmenLaLlon
W volume segmenLaLlon
W 8eneflL segmenLaLlon
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W 1he maln advanLage of markeL segmenLaLlon lles ln a
beLLer undersLandlng of Lhe consumer needs and
behavlor so LhaL a markeLer can plan accordlngly
W undersLand poLenLlal cusLomers
W ay proper aLLenLlon Lo parLlcular areas
W lormulaLe markeLlng programmes
W SelecL channels of dlsLrlbuLlon
W use markeLlng resources efflclenLly
W AdverLlse Lhe producLs and launch sales promoLlon
programmes
W ueslgn markeLlng mlxroducL rlce lace romoLlon
Lxamp|es of market segmentat|on
W 8efrlgeraLors (geographlcal slze naLure of
consumers)
W Washlng machlnes(uenslLyurban suburban
LconomyMlddle upper lncome group)
8eneflLs(AuLomaLlc semlauLomaLlc)
W 8anklng servlces(uenslLyurban suburban
rural usLomers(servlce class buslness and
selfemployed)