The products which are offered by BPCL Mumbai Refinery are mainly,
1) Domestic Fuels. (LPG, Kerosene, Petrol, Diesel, etc.)
2) Industrial Fuels, (ATF, Furnace Oils, LSHS, LDO, Naphtha,etc)
3) Special Product like (Benzene, Toluene, MTO, etc.)
4) Lubes feedstock’s (MAK, Group 2, 3 grade Lubes feed stock)
Here I have considered Diesel as a product for market segmentation. Diesel is being a consumer product can be segmented based on following parameters -
1) Geographic segmentation
2) Demographic segmentation
3) Psychographic segmentation
4) Behavioural segmentation
Geographic segmentation- The market is segmented according to geographic criteria—nations, states, regions, countries, cities. The company can operate in one or more areas but can pay attention to the local variations. The consumption of the diesel can be classified based on the means & ability to purchase the diesel, consumption pattern, exposure to the mass media and awareness levels.
Demographic segmentation - Demographic segmentation consists of dividing the market into groups based on variables such as age, gender, family size, income, occupation, education, socio-economic classification. These segments are mainly associated with the needs and the wants.
Psychographic segmentation- Buyers are divided according to their lifestyle, personality, values and social class. People within the same demographic group can exhibit different psychographic profiles.
Behavioural segmentation- Buyers are divided into groups according to their knowledge of, attitude towards, use of or response to a product. It is actually based on the behavior of the consumer.
Parameters for Segmentation –
Geographic segmentation – Main reason for using this parameter is Pollution Norms specified by pollution control boards. Govt of India is going towards more stringent norms for Fuel. The fuel norms are based on population per sq meter area. Here Metropolitan cities are most populated... [continues]
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