Segmentation and targeting final ppt
Transcript of Segmentation and targeting final ppt
IDENTIFYING MARKET SEGMENTS AND TARGETS
C-40: Kriti BadhwarC-41: Rohit Paudel
C-42: Tanmaye GuptaC-43: Angelique Thakur
C-44: Rohan Vohra
SEGMENT MARKETING
Identify the needs of
consumers by groups then direct marketing efforts to make a larger
impact.
Offer better design, price,
communicate and deliver
product or service.
Fine-tune marketing strategy
and activities
to compete against rivals.
Address consumers’
needs without forcing them to look for
items that they
desire.
Flexible market
offerings to all
members of a
segment
Lufthansa Airlines
First Class
Business ClassEconomy Class
LOCAL MARKETING
The strategy and actions that communicate to your customers in a manner, and with a message, that is relevant and meaningful based upon localized differences.
Also called “Grassroots Marketing” The key dimensions of Local
Marketing are: Segmentation, Media and Messaging
NICHE MARKETING Focus on a small segment of people unique and similar needs Highly customised Opposite of mass marketing Market research imperative
BANKING SECTOR
Investment products Home loans Vehicle finance Financial planning Personal loans Private Banking
Source: http://www.siliconindia.com/finance/news/13-Best-Banks-of-India-nid-134523.html
BEST AMONG THE REST
Source: http://www.siliconindia.com/finance/news/13-Best-Banks-of-India-nid-134523.html
HDFC: Best Retail bank; private sector
Standard Chartered Bank: Best SME finacing; foreign banking
Allahabad Bank: Most consistent performer in Priority Sector Lending
State Bank Of India: Technology Adoption - Public Sector
BEST AMONG THE REST
FAIRNESS CREAMS MARKET
MEN’S GROOMING PRODUCTS: THE NEW EMERGING MARKET IN INDIA- A CASE STUDY ON EMAMI FAIR & HANDSOME-CHANDRA KANT SHARMA
Source: Indian Journal Of Marketing
04/11/2023
FAIRNESS CRAZE
Market size : ₹ 800 crore Market growth rate : 15- 20 % y-o-y Leading players:
HUL’s fair & lovely: 76% Calvin care’s fairever: 15%
Males constitute 20% of the sale of fairness creams The Indian male took an average of 20 minutes vs the
Indian female’s 18 minutes! 25-30% of fairness products purchased and used by
men They saw a lucrative opportunity. Decided to delve
deeper into this ‘fairness craze’
Source: Indian Journal Of Marketing
SEGMENTATION & POSITIONING Region: South Rural/Urban:
Urban Age: 15-35 years Gender: Male
• Positioned as a fairness cream that can make men handsome and attractive to girls
• 5 power fairness system: – Double strength peptide
complex– Sunguard– Stress buster– Anti- bacplus– Herbo cool
• Get fair in four weeks
GEOGRAPHICAL SEGMENTATION
Division of the market into different geographichal units viz; regions,
countries ,cities or neighbourhood
Consumer’s taste , habits and preferences
Flexibility of the product to go national from domestic
PROBABILITY
The probable chance of a good / bad investment in food depending on taste , preference and location of
consumer
NEED VS REQUIREMENTS
Depending upon climatic conditions and other factors too the need and requirements are derived
CASE: LIFEBUOY VS NIRMA
Lifebuoy’s first step in India without deep study of Indian market led to obstacles in growth which ultimately led to diversified geographical location with a greater innovation in PLC too
Nirma being the Indian brand made its fine mark in all the locations irrespective of the major chunks/ big players who were the fine players , and Nirma being the newly introduced one , a deep and thorough study of every factor depending on requirements , needs , hygiene and all other basic factors
DEMOGRAPHIC SEGMENTATION
•Most commonly used and easily identifiable
•Variables help in dividing into specific customer groups
•Helps in MASS MARKETING
DEMOGRAPHIC VARIABLES
Age and Life-Cycle StageLife Stage
Gender
Income
Generation
Social Class
CONSUMER WANTS AND ABILITIES CHANGE WITH AGE
Babies
Children
Youth & Teenager
s
Old Age
Age and Life-Cycle Stage
Life Stage
Marriagebuying a house starting a family retirement
Gender
Product Positioning New Product
Category
“aims to change the status quo and offer in its place a broader, healthier, more democratic view of beauty”
Campaign for Real Beauty
“FORTUNE AT THE BOTTOM OF THE PYRAMID”
Income
“VALUE FOR MONEY”
“Sachet Marketing”
COHORT EFFECT IS A TENDENCY AMONG MEMBERS OF A GENERATION TO BE INFLUENCED AND DRAWN TOGETHER BY SIGNIFICANT EVENTS OCCURRING DURING THEIR KEY FORMATIVE YEARS
Generation
Disney KidSense 2007
Social Class
Caste System
Income Level
Socio Economic Factors
EducationOccupation
PSYCHOGRAPHIC SEGMENTATION
Psychographic Segmentation
Lifestyle and values Social Status Personality
LIFESTYLE AND VALUES
• Introduced vegetarian burgers in the Indian market keeping in mind the sentiments and the values of the purely vegetarian Indian families
• Also McDonalds did not introduce their most famous beef burger “Big Mac” because it might hurt the sentiments of the customers in the Indian market.
• McDonald's understand that tastes vary around the globe.
• But instead of simply duplicating local favourites, we take what's familiar and put a McDonald's twist on it.
• You can order up a Quiche de Queijo (cheese quiche) in Brazil, Red Bean Pie in Hong Kong (where red beans are commonly used in desserts), and traditional Caldo Verde soup (made with cabbage, kale, onion, potato and chorizo) in Portugal.
SOCIAL STATUSDatawind’s Ubislate 7+
Apple’s IpadAmazon’s Kindle Fire
PERSONALITY
• “Made like a Gun”. The ultimate comfort bike in India.
• Loyal customers but very less market share due to outdated technology.
• Senior managers at Eicher Motors faced a tough choice. For that they wanted to modernise the bikes to appeal to a wider customer base. But existing customers wanted their Bullets just the way they had always been.
CONT.
THE PROBLEMDespite the bikes' fan following, the motorcycle division was bleeding
THE WAY OUTAppealing to a wider base, making the products more reliable
THE CHALLENGEModernising the bikes without taking away their unique identity
THE SUCCESSModern technology used, but vintage look retained; improved management practices
BEHAVIORAL SEGMENTATION
Behavioral Segmentatio
n
Benefits Occasion Usage
BENEFITS
Kills germs100% protection everyday
Keeps your hands soft and clean
OCCASION
USAGECustomers can be segmented on the basis of usage status- heavy users, light users & non-users of a product category. The profiling of heavy users allows this group to receive most marketing attention (particularly promotion efforts) on the assumption that brand loyalty among these people will pay heavy dividends.
THANK YOU