SYNOPSIS

ON
MARKET SEGMENTATION
IN
MANGALORE REFINARY AND PETROCHEMICALS
LIMITED, Bangalore

Dissertation submitted to the Bangalore University in partial fulfillment of the

requirements for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION

BANGALORE UNIVERSITY

BY
KAILASH SINGH.S
091RSCMAO41

Under the guidance of

Dr. K.C. JOHN

GARDEN CITY COLLEGE, Bangalore-49

Introduction:

Market segmentation is the identification of portions of the market that are different from one another.
Segmentation allows the firm to better satisfy the needs of its potential customers.

Consumer diversity is increasing rapidly and firms have long sought to differentiate their products
relative to competitors. This is where market segmentation comes in. Long gone are the homogeneous
markets that Henry Ford conquered with his mass production of one model of car (mass customization
is the new objective). While there has been a strong move towards one-to-one marketing in recent
years, market segmentation offers a valuable compromise between that Holy Grail and mass marketing.
Market segmentation provides a proven way of disaggregating markets in a way that can improve
profitability without the investment in systems and sales resources needed for one-to-one marketing.

Customer Segmentation is the subdivision of a market into discrete customer group that share similar
characteristics. It also divides customers into groups based on their distinct underlying needs or
characteristics driving their purchase decisions. Segmentation is a powerful marketing tool to identify
unmet customer needs. Truly distinct customer segments respond to different values proposition and
require different strategies approaches. Customer segmentation is most effective when a company
tailors offerings to segments that are the most profitable and serves them with distinct competitive
advantages. This prioritization can help organizations develop marketing campaigns and pricing
strategies to extract maximum value from both high and low-profit customers.

Customer Segmentation also serves as fundamental basis for allocating resources to product
development, marketing, service, and delivery programmes.

In other words, if strategy is the art of allocating scarce resources, then segmentation and the
understanding it provides about your core customer groups-is part of the science informing that
allocation.

Title of the study

Market segmentation towards Mangalore Refinery and Petrochemicals Limited (MRPL)

Statement of the problem

Analyzing the segmentation of market toward MRPL. As they are an important aspect that has to be
taken into consideration. How is market segmentation helpful in organizational growth?

Need for segmentation

Customers buy Benefits not Products”. The classic example of this is the Black & Decker Drill, no one
wants a drill (product), what they want is a hole (benefit).

Companies that concentrate on products rather than benefits can be defined as suffering from “Marketing
Myopia”. In his definitive work Theodore Levitt summarised the need for a benefit led approach.

Benefits based segmentation approaches the question from the perspective; If we find what benefits
people seek, we can then group them accordingly. Then a method must be found to identify the external
characteristics that can be used to define the members of the group.

Quote from Theodore Levitt; “If you’re not thinking segments, you are not thinking marketing”

Objectives of the study

1. To understand the market segmentation for petroleum products

2. To learn the various market segmentation strategies

3. To find a relationship between market segmentation and organisational growth

4. To study those marketing areas where Mangalore Refinery and Petrochemicals Ltd lacks growth
strategies

Scope of the study

The scope the study is within the marketing department of Mangalore Refinery and Petrochemicals

Ltd. The information would be collected from these departments and various questions for analysis
would be put forward to them.

Market segmentation is one of the important factors for the growth of market share of an organisation.

Research design

The method to be adopted are descriptive research method and survey method.50
employees at random are to be selected, for the purpose of interviews and
questioning

Sources of data:

• Primary Source.

• Secondary Source.

Primary sources:
 Primary sources are the sources from which the original data is collected. The first hand
information was collected directly from the staff the departments and the other sources were:

Secondary sources:

Secondary sources are the sources in which the data are already collected and are used to solve the
problem at hand. These are as follows:

Method of data collection for Primary data

• Observation.

• Personal Interaction.

• Questionnaire.

Method of data collection for Secondary data

• Company records

• Reports

• Register

• Books
Sample Size

Sample Size is an attempt of ways to understand the entire population without actually observing every
entity within it - by choosing and observing only a sample (a sub-set) of the full population.
Sample Size: 50employee

Sampling techniques

Sampling techniques is that part of statistical practice concerned with the selection of a subset of
individual observations within a population of individuals intended to yield some knowledge about the
population of concern, especially for the purposes of making predictions based on statistical inference.
Sampling techniques is an important aspect of data collection

PLAN FOR ANALYSIS

The data collected from primary and secondary data could be examined in detail.It should be further
classified , tabulated analyse with the help of various statistical tools and techniques like spread sheets
,spss and will be presented in the form of bar diagram and pie charts .
Limitations of the study

Besides other things, the following are the limitations of the study:

- Limited data – only published data

- Limited boundary- It becomes difficult for an organisation to provide their sensitive information
 Chapter scheme

Chapter 1 – Introduction

Chapter 2 – Research design

Chapter 3 – Profile of the company

Chapter 4 – analysis and interpretation of data

Chapter 5 – summary of findings, suggestions and Conclusions & recommendations.

Bibliography
Annexure