Market segmentation is the process of dividing customers into groups based on characteristics like age, income, personality and behavior. This allows organizations to optimize products and advertising for different customer segments. The segmentation process involves grouping customers by their product wants, analyzing customer demographics and behaviors to define segments, evaluating segment growth and competition, assessing segment profitability, positioning products and prices for segments, and exploring strategies to fully tap segment potential.
Market segmentation is the process of dividing customers into groups based on characteristics like age, income, personality and behavior. This allows organizations to optimize products and advertising for different customer segments. The segmentation process involves grouping customers by their product wants, analyzing customer demographics and behaviors to define segments, evaluating segment growth and competition, assessing segment profitability, positioning products and prices for segments, and exploring strategies to fully tap segment potential.
Market segmentation is the process of dividing customers into groups based on characteristics like age, income, personality and behavior. This allows organizations to optimize products and advertising for different customer segments. The segmentation process involves grouping customers by their product wants, analyzing customer demographics and behaviors to define segments, evaluating segment growth and competition, assessing segment profitability, positioning products and prices for segments, and exploring strategies to fully tap segment potential.
MARKETING MANAGEMENT MARKET SEGMENTATION Presented by E V S S G GANESH 19021E0063 MARKET SEGMENTATION • Market segmentation is the research that determines how your organization divides its customers or cohort into smaller groups based on characteristics such as, age, income, personality traits or behavior. These segments can later be used to optimize products and advertising to different customers. MARKET SEGMENTATION PROCESS • The first task is to group customer according to product and service they want. •The second task is to analyze customer by summarizing demographic, lifestyle and usage pattern, which helps in the definition of market segment. •The third task is due diligence of the market for growth potential, competition and other factors. MARKET SEGMENTATION PROCESS •The fourth task is to profitability of market segment. •The fifth task is to undertake positioning activity for pricing and marketing programs. •The sixth task is to explore different positioning and marketing strategies to explore the market to its full potential. THANK YOU