Prof. Samruddhi R. Dhote

Market segmentation is the process of dividing a heterogeneous market into homogeneous sub-units

    Customer based segmentation Product related segmentation Competition related segmentation Life style segmentation .

   Geographic location of customers Psychographics variables Buyer readiness .

Steps in target marketing  Market segmentation  Market targeting  Market positioning .

Product positioning is an attempt to create and maintain in the mind of target audience the intended image for the product/brand. relative to other brands.  . first coined by two marketing executives Al Ries & Jack Trout in 1972. “Positioning” is a popular term in marketing.

   Explore the market Segmentation & Targeting Competitive strategy .

. Perceptual space map shows the perceived relative positions of products along different dimensions.

consume and tell other people about products & services” .“Buyer behavior is all psychological. social & physical behavior of potential customer as they become aware of. purchase. evaluate.

    Mental activity Physical activity Complex Affected by external & internal factors .

    Production policies Pricing policy Decisions regarding channels of distribution Decisions regarding sales promotion .

Primary buying motives  Food & drink  Comfort  To attract opposite sex  Freedom from fear & danger  Social approval  To live longer .

Secondary buying motive  Information  Cleanliness  Efficiency  Convenience  Style & beauty  curiosity .

Difficulties in studying buying motives  Consumer ignorance  Consumer’s hesitation or misstatement  Difficulty in identifying buying motives  Dynamic nature of buying motives .

3. Need arousal Information search Evaluation behavior purchase decision Post purchase feelings . 2.1. 4.

Buy Stimulus Consumer Mind ( Black Box) Response No Buy .

Participants in buying process  Initiator  Influencer  Decider  Buyer  User .

Factors affecting consumer behavior Social factors Cultural factors •Culture group •Social class •Reference life •Cycle •Family •Role& status Personal factors Age •Occupation •Economic condition •Life style Psychological factors •Motivation •Perception •Learning •Beliefs & attitides .

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