Marketing Segmentation
Market Segmentation
Market segmentation is a strategy which divides a target market into subset according to consumer needs and desires and applicable for the good relevant and services. It depends only on the specific characteristics of the products and this subset is divided according to the criteria of age and gender. Campaign can designed a target which specific consumer segments can desire. A successful market segmentation and differentiation can give a firm a commercial advantage.
Market segmentation is divided into three main segments * Geographical segmentation * Demographic segmentation * Psychographic segmentation 1. Geographical segmentation: The market is divided according to geographic criteria like nation, state, religion, countries etc. Geographic data create accurate profile of specific. For eg: in rainy season sells rainy clothes (like raincoat, umbrella etc) 2. Demographic segmentation: it divide to the market into groups according to variable in age, family, gender, size of family, income of the consumers etc 3. Psychographic segmentation: It is a science which use in better understands all consumers according to their life style, personality, value and social-class.
I am doing job in Bajaj Company, after this company has monopolised in almost all field either in the field of manufacturing bikes or bulb, tube light etc. Earlier, the customers were not fond of verities because there were not too many verities in the market and less competitions, but, in present time a huge competition has been taken place that for survive in the market every companies should be update with their products, otherwise rival companies will lead them.
If we talk about the bike fashion we see that our youngsters like those bikes which must not be strong in pickup (60 km/h with few minutes) as well as good looking means it looks different from others, besides this, old agers want those bikes which run comfortably that they ride normally,
Market segmentation is a strategy which divides a target market into subset according to consumer needs and desires and applicable for the good relevant and services. It depends only on the specific characteristics of the products and this subset is divided according to the criteria of age and gender. Campaign can designed a target which specific consumer segments can desire. A successful market segmentation and differentiation can give a firm a commercial advantage.
Market segmentation is divided into three main segments * Geographical segmentation * Demographic segmentation * Psychographic segmentation 1. Geographical segmentation: The market is divided according to geographic criteria like nation, state, religion, countries etc. Geographic data create accurate profile of specific. For eg: in rainy season sells rainy clothes (like raincoat, umbrella etc) 2. Demographic segmentation: it divide to the market into groups according to variable in age, family, gender, size of family, income of the consumers etc 3. Psychographic segmentation: It is a science which use in better understands all consumers according to their life style, personality, value and social-class.
I am doing job in Bajaj Company, after this company has monopolised in almost all field either in the field of manufacturing bikes or bulb, tube light etc. Earlier, the customers were not fond of verities because there were not too many verities in the market and less competitions, but, in present time a huge competition has been taken place that for survive in the market every companies should be update with their products, otherwise rival companies will lead them.
If we talk about the bike fashion we see that our youngsters like those bikes which must not be strong in pickup (60 km/h with few minutes) as well as good looking means it looks different from others, besides this, old agers want those bikes which run comfortably that they ride normally,