Preview

Market Segmentation

Good Essays
Open Document
Open Document
1219 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Market Segmentation
Market segmentation- is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. That is, they are likely to have similar feeling and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way, and promoted in a certain way. Broadly, markets can be divided according to a number of general criteria, such as by industry or public versus private sector. Small segments are often termed niche markets or specialty markets. However, all segments fall into either consumer or industrial markets. Market segmentation is needed because the marketing concept calls for understanding customers and satisfying their needs better than the competition. But different customers have different needs, and it rarely is possible to satisfy all customers by treating them alike. Buyers together make up markets. These buyers vary in numerous ways. These ways include difference in their wants, acquiring ability, geographical sites, purchasing behavior, and buying practices.
An example for how the market for soap may be segmented-
Types of Soap Characteristics of market segment
Beauty soap
E.g.: Dove, Lux, Camay

People who buy beauty soap will be people who want to keep their skin soft. They will therefore buy soap which contains moisturizers. Women will mainly buy them.
Baby Soap
E.g.: Johnson’s baby Soap

This is a mild soap which will not harm a baby’s skin. It is bought mainly by mothers for their babies.
Medicated soap
E.g.: Dettol , Lifebuoy

Sometimes soap is sold to help fight acne. This tends to be bought mainly by teenagers, both male & female.
Non-branded soap
This is an economy product which is plain soap with no extra perfume added. This will probably be bought by people on

You May Also Find These Documents Helpful

  • Good Essays

    It can contaminate groundwater, poisons ecosystems and the environment. Soaps contains chemicals that harm fish, deteriorate water quality, and cause algae to grow. For example, by washing your car in your driveway, the soap picks up the dirt, grease, and oil that will flow into nearby storm drains which run directly into bodies of water. Furthermore, soaps that are used on the skin in the shower can irritate the skin since it contains dyes and perfumes. Lastly, antibacterial soap contains chemicals and antibacterial agents that affects the microbiota balance on your skin. The chemicals from the soap kill microflora which are beneficial to your health. For example, by using antibacterial soap, you are more subject to bacterial and yeast infections since you are killing the microflora which can naturally prevent those…

    • 962 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Bar soap is seemingly such an unassuming everyday household item. However it isn’t as simple as it may appear. For example, Dove soap is made up of sodium cocoylisethionate, stearic acid, coconut acid, and sodium tallowate. In addition, water, sodium isethionate, sodium stearate, cocamidopropyl betaine, sodium cocoate or palm kernelate, fragrance, sodium chloride, BHT and titanium dioxide are also used. Now, the once ordinary bar of soap seems so much more complex. To my surprise, many women around the world see a bar of Dove soap even more complex than that. The Dove campaign for Real beauty has inspired many women to think far more critically about something that they would normally not think much about. Since 2004 Dove has tried, “…to celebrate the natural physical variation embodied by all women and inspire them to have the confidence to be comfortable with themselves.”(Dove) Dove has launched a variety of advertisements, video, workshops, and sleepover events to 11 million women throughout the country.…

    • 786 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Dove vs. Dial

    • 468 Words
    • 2 Pages

    Not everyone likes the same stuff. But I have to tell you Dove is so much better to use. If you have rough or sensitive skin. Dove can be bought for sensitive skin; they make it that way without a smell so it doesn’t break you out. This makes it a better soap to use. It also will wash off easily. So that there’s no soap scum left on your skin. This leaves your skin feeling cleaner and smoother.…

    • 468 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Hypnotherapy Skin

    • 436 Words
    • 2 Pages

    "water based" and "oil free" items ought to be utilized by those individuals with slick skin to deal with their skin . Purging and conditioning is critical for this skin sort.…

    • 436 Words
    • 2 Pages
    Good Essays
  • Good Essays

    In 1963 Malcolm X split from the Nation Of Islam and started a fresh start by going to Mecca to do the pilgrimage. The reason why Malcolm went to Mecca was because he wanted to established his own Muslim organization which stemmed from a desire in him to learn more about the historical origins of islam and the black race. His trip to mecca brought him to the awareness that the enemy was an international power , arrangement which grew out of certain thought pattern. Furthermore, Malcolm X had heard about a Ku Klux Klan reward for his death. However He then felt that he faced much more imminent danger from within the NOI members.…

    • 488 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Using it as a soap will attract debris and oil leaving your skin really clean.…

    • 1170 Words
    • 5 Pages
    Good Essays
  • Better Essays

    swot analysis

    • 949 Words
    • 4 Pages

    The beauty market is a growing market despite the high concentration of companies. Indeed, according to Kline1 “sales of the hand and body lotions category have grown at a CAGR of 1.4% from $1.9 million in 2006 to $2.1 million in 2012”. Additionally to that body lotion is a very used product, as a Mintel research had shown 81% of beauty product consumers use body lotion and 89% use 89%.2 Moreover the men beauty product market is still booming and there are some market shares left. Indeed, according to a Mintel marketing study 7% of American males use anti-ageing products and 59% of American men think that 59% care product can boost their self-confidence.3…

    • 949 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Anti-Aging Compare

    • 2158 Words
    • 5 Pages

    The first ant-aging product for women that I researched was OLAY Total Effects 7-In-1 Anti-Aging Moisturizer Mature Skin Therapy. The product weights 1.07 oz and can be purchased at CVS for $18.99. The target audience of this product is a woman who is currently undergoing menopause because, according to the package, during this process skin ages twice its normal rate. Hence its name, the product offers 7 services; line minimization, intense moisture, skin tone enhancement, exfoliation, pore refinement, free radical defense and subtle lifting. This product is part of Olay’s Total Effects system. Of course for the best results they want you to purchase their other matching products such as their Total Effects cleanser. According to www.wikipedia,org, the Olay brand has an annual net sale of over 1 billion dollars and belong to parent company Proctor and Gamble.…

    • 2158 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Acne Scar Research Paper

    • 418 Words
    • 2 Pages

    • Use tea tree oil as moisturizer: Adult cystic acne can do worse to your skin. You can prevent it without sacrificing the natural and vital moisture of your skin. A good source of moisturizer is tea tree oil. It has all the healthy nutrients for your skin.…

    • 418 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Chapter 8

    • 1089 Words
    • 5 Pages

    Market segmentation is to aggregate potential buyers into groups that have common needs and will respond similarly to a marketing action. Market segments are the relatively similar groups of potential buyers that result from the market segmentation process. The existence of different market segments has caused firms to use a marketing strategy of product differentiation. This strategy is related to using different marketing mix activities, such as product features and advertising, to help consumers perceive a product as being different and better than competing products. One of the marketing segments’ tools is a market-product grid, which is a framework to relate the market segments of potential buyers to products offered or potential marketing actions. A business goes to the trouble and expense of segmenting its markets when it expects that this will increase its sales, profit, and return on investment. When expenses are greater than the potentially increased sales from segmentation, a firm should not attempt to segment its market. Three specific segmentation strategies that illustrate this point are (1) one product and multiple market segments, (2) multiple products and multiple market segments, and (3) segments of one, or mass customization.…

    • 1089 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    A market segment is “the type of market or customers a company will serve” (Kotler & Keller, 2011, p.39). Market segments are generally a subset of a market, which allows the marketer to classify the type of possible customers into groupings (i.e., segment). Once defined as a segment, marketing strategies focus on influencing potential customers based on the groups shared commonalities and descriptive traits, such as demographics, psychographic, geographic, and consumer behavior.…

    • 1822 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Market Segmentation

    • 433 Words
    • 2 Pages

    Market segmentation is the division of the total market into smaller, relatively homogeneous groups. It is necessary to segment or classify the various people or institutions in order to identify those with sufficient purchasing power, authority, and willingness to buy. Because no single marketing mix can satisfy all marketing segments, it is important to establish target markets and apply the appropriate marketing strategies in order to maximize market share.…

    • 433 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    The toilet soaps market consist a large number of brands marketed by organized sector of the industry either nationally or regionally. Nearly 90 percent of the toilet soaps market (by weight)…

    • 2319 Words
    • 7 Pages
    Powerful Essays
  • Better Essays

    The product is chocolate soap. It shall be named Dés as a play to the word ‘Desire’. It shall take the form of a solid bar soap. It is a soap intended for bath that contains certain ingredients extracted from the cacao fruit turned into chocolate. The weight of the soap will be 100 grams per bar excluding the packaging. This soap contains natural oils and essences that will make it good for the skin. According to an article in Day Spa magazine: “the antioxidant-rich seeds of the cacao tree work wonders on the senses, and tighten, firm, and hydrate the dermis.” All antioxidants fight free radical damage, reduce skin inflammation, and are soothing for the skin. There is an age-old myth that chocolates trigger acne and are responsible for other skin problems like oily and dull skin. However, lying to rest this myth, researchers have proven it otherwise. It has been proven that a healthy share of chocolate can give you fabulous skin that radiates health and beauty(Alphonse, 2011). The following are the active ingredients in chocolate that has great benefits when it comes into contact with the skin (Alphonse, 2011):…

    • 4153 Words
    • 17 Pages
    Better Essays
  • Good Essays

    Bathing soaps are the cleaning products that are an essential part in our daily lives.…

    • 737 Words
    • 3 Pages
    Good Essays

Related Topics