market segmentation project guidelines
Marketing Project Guidelines
Topics
Market
Introduction of market segmentation (NOT FROM THE NOTES)
Basis of market segmentation –
Consumer characteristic approach - Demographic, Geographic, Psychographic, and Behavioral Segments. (There are many subdivisions under each base.)
Consumer response approach – benefit, loyalty, usage and occasion
Marketing Strategies – undifferentiated, differentiated and concentrated marketing strategies.
Why segmentation the market
Facilitates the right choice of target market
Facilitates effective tapping of chosen market
Makes the marketing effort more efficient and economic
Helps identify less satisfied segments and concentrate on them.
A report and study on the Segmentation of the existing company- Introduction on the basis of the segments. Examples – Nike, Macdonald, Raymond etc. In this section you have to provide the details of how the company segmented the market. You have to show the segmentation on the basis i.e. Demographic, Geographic, Psychographic, and Behavioral Segments. (You can choose combinations or do all or do any of the one i.e. demographic and geographic or only psychographic. You can choose the number of divisions you want to show as the company’s segmentation of the market and even for your product line you can choose how many ever subdivisions under each base you want for the product line you chose)
Market segmentation of the product line chosen by you – you have to choose a combination or any one or all the basis of segmentation and classify you product. Examples - cosmetics, hygiene products, herbal products, watches, paints, glasses, coffee shops, boutiques and food products.
If supposing you choose Macdonald as your company of how It segments the market (under the topic of how the company segments the market) - the Demographic, Geographic, Psychographic, and Behavioral Segments, then you ARE NOT suppose to chose your product line as food products. It should be something other than the
Topics
Market
Introduction of market segmentation (NOT FROM THE NOTES)
Basis of market segmentation –
Consumer characteristic approach - Demographic, Geographic, Psychographic, and Behavioral Segments. (There are many subdivisions under each base.)
Consumer response approach – benefit, loyalty, usage and occasion
Marketing Strategies – undifferentiated, differentiated and concentrated marketing strategies.
Why segmentation the market
Facilitates the right choice of target market
Facilitates effective tapping of chosen market
Makes the marketing effort more efficient and economic
Helps identify less satisfied segments and concentrate on them.
A report and study on the Segmentation of the existing company- Introduction on the basis of the segments. Examples – Nike, Macdonald, Raymond etc. In this section you have to provide the details of how the company segmented the market. You have to show the segmentation on the basis i.e. Demographic, Geographic, Psychographic, and Behavioral Segments. (You can choose combinations or do all or do any of the one i.e. demographic and geographic or only psychographic. You can choose the number of divisions you want to show as the company’s segmentation of the market and even for your product line you can choose how many ever subdivisions under each base you want for the product line you chose)
Market segmentation of the product line chosen by you – you have to choose a combination or any one or all the basis of segmentation and classify you product. Examples - cosmetics, hygiene products, herbal products, watches, paints, glasses, coffee shops, boutiques and food products.
If supposing you choose Macdonald as your company of how It segments the market (under the topic of how the company segments the market) - the Demographic, Geographic, Psychographic, and Behavioral Segments, then you ARE NOT suppose to chose your product line as food products. It should be something other than the
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