Professional Documents
Culture Documents
What is a Market?
PEOPLE
PEOPLE
BUT - not just ANY people, they have to have
• Willingness to buy
• Purchasing power (money)
• Authority to buy
Prepared by: Tushar Malviy
Types of Markets
Consumer Goods and Services
coke
Goods
ATM
Services
$
$
Competition-Related
Segmentation
Geographic Psychographic
Buyer Readiness
Segmentation Segmentation
Demographic
Segmentation Personality
Values
Age & Life Cycle Occupation
Stage Life Style
Education Behavioral
Gender
Segmentation
Marital Status
Income
Occasions
Family Size
Generation & Structure
Social Class
Prepared by: Tushar Malviy
Geographic
The division ofSegmentation
a total potential market into smaller
subgroups on the basis of geographic variables
(e.g., region, state, or city)
The reason why we study geographic
segmentation is because WHERE people live
has a big effect on their consumption
patterns.
Additionally, WHERE people live in a city is
also a reflection of their income level and we
can make certain assumptions about their
ABILITY TO SPEND based upon their address.
International
National
Regional/City
Social Class
Education
Marital Status
Loyalty Status
Geographic Segmentation
useful for the automotive industry
Product Segmentation
i.e. Special parts and components or machinery