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    Market segmentation is the division of a market into subgroups of customers with similar needs or characteristics. It is based on the assumption that markets are heterogeneous rather than homogeneous. Consumers with similar qualities are grouped into segments, with the characteristics of each segment differing from others. Common criteria for segmentation include geographical area, demographics like age and income, psychographics like social class and lifestyle, and consumer behavior patterns. An example segmentation described targets youth and students from the lower middle and middle classes in the Andhra Pradesh and Karnataka regions of India, with a dual SIM lifestyle and seeking cost, quality, and design benefits.

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    Market segmentation is the division of a market into subgroups of customers with similar needs or characteristics. It is based on the assumption that markets are heterogeneous rather than homogeneous. Consumers with similar qualities are grouped into segments, with the characteristics of each segment differing from others. Common criteria for segmentation include geographical area, demographics like age and income, psychographics like social class and lifestyle, and consumer behavior patterns. An example segmentation described targets youth and students from the lower middle and middle classes in the Andhra Pradesh and Karnataka regions of India, with a dual SIM lifestyle and seeking cost, quality, and design benefits.

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    2 views11 pages

    By: Ritesh Pandey

    Uploaded by

    Ritesh Pandey
    Market segmentation is the division of a market into subgroups of customers with similar needs or characteristics. It is based on the assumption that markets are heterogeneous rather than homogeneous. Consumers with similar qualities are grouped into segments, with the characteristics of each segment differing from others. Common criteria for segmentation include geographical area, demographics like age and income, psychographics like social class and lifestyle, and consumer behavior patterns. An example segmentation described targets youth and students from the lower middle and middle classes in the Andhra Pradesh and Karnataka regions of India, with a dual SIM lifestyle and seeking cost, quality, and design benefits.

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    of 11

    By: Ritesh Pandey

    Market

    People or organizations with needs or wants and the ability and willingness to buy A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. The process of dividing a market into meaningful, relatively similar, identifiable segments or groups.

    Market Segment

    Market Segmentation

    ASSUMPTION ---Markets are not HOMOGENOUS but HETEROGENOUS. So we can say that MARKET SEGMENTATION is the division & subdivision of a market on the basis of common characteristics such as nature ,taste ,quality ,income ,age etc

    CONSUMERS HAVING SIMILAR QUALITY ARE GROUPED IN A SEGMENT THE CHARACTERISTICS OF CUSTOMERS OF ONE SEGMENT IS DIFFERENT WITH OTHER SEGMENT THIS GROUPING OF MKT IS CALLED MARKET. SEGMENTATION.

    There are many criteria for segmentation but some popular are : 1. GEOGRAPHICAL(area) 2. DEMOGRAPHIC(age ,sex, income,) 3. PSYCHOGRAPHIC(social class, life style, personality) 4. CONSUMER BEHAVIOUR(uses rate, brand loyalty)

    Region: Andhra Pradesh and Karnataka.

    Social class: Lower Middle and Middle class.

    Education & Age: Youth, Student.

    Lifestyle : Dual sim

    Benefits desired: cost, quality, design.


    DESIGN

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