Market Segmentation
MARKET SEGMENTATION
A market is made up of people with one or more characteristics that make them to demand homogeneous product or service based on qualities of those products such as price or function. People in the same segment have similar needs and quality and therefore possess similar products and are charged similar prices, but they are different from other segments. Segmentation variables can be * Gender * Price * Location * Religion * Income * Interests * Size of the household
Similarly, my product is laptop and I will divide my segmentation on the basis of the above points. Mainly I will divide my consumer market into:
GEOGRAPHIC SEGMENTATION: Geographical segmentation can be in the form of urban areas versus rural areas, north area versus south area. Rural versus urban areas- the consumption of laptops in urban areas is higher than in rural areas due to the educational institutions and multi national companies and offices there. The students now have switched to laptops and therefore do all their work on the pc than manually. Therefore, urban areas have more demand for laptops than rural areas. For examples, in metropolitan cities like New Delhi, Mumbai, and Bangalore it has become a necessity unlike places like Rajasthan, Orissa and Bihar.
North versus south-Cities of the north that have a high demand for the laptops can be divided into one group for e.g., cities like new Delhi, Gurgaon, Kanpur, Dehradun, Varanasi, Agra have more demand and thus can be categorize into one group and the rural places into one segment. The cities like Bangalore, Thiruvananthapuram, Hyderabad, and Chennai into another segment. Similarly, there is east and west India that too we can divide into similar segments.
DEMOGRAPHIC SEGMENTATION- could be a person’s age, income, housing type, and educational level. Some laptops are only targeted for women for e.g. Sony Vaio’s colorful notebooks are targeted only for women. People with higher income
A market is made up of people with one or more characteristics that make them to demand homogeneous product or service based on qualities of those products such as price or function. People in the same segment have similar needs and quality and therefore possess similar products and are charged similar prices, but they are different from other segments. Segmentation variables can be * Gender * Price * Location * Religion * Income * Interests * Size of the household
Similarly, my product is laptop and I will divide my segmentation on the basis of the above points. Mainly I will divide my consumer market into:
GEOGRAPHIC SEGMENTATION: Geographical segmentation can be in the form of urban areas versus rural areas, north area versus south area. Rural versus urban areas- the consumption of laptops in urban areas is higher than in rural areas due to the educational institutions and multi national companies and offices there. The students now have switched to laptops and therefore do all their work on the pc than manually. Therefore, urban areas have more demand for laptops than rural areas. For examples, in metropolitan cities like New Delhi, Mumbai, and Bangalore it has become a necessity unlike places like Rajasthan, Orissa and Bihar.
North versus south-Cities of the north that have a high demand for the laptops can be divided into one group for e.g., cities like new Delhi, Gurgaon, Kanpur, Dehradun, Varanasi, Agra have more demand and thus can be categorize into one group and the rural places into one segment. The cities like Bangalore, Thiruvananthapuram, Hyderabad, and Chennai into another segment. Similarly, there is east and west India that too we can divide into similar segments.
DEMOGRAPHIC SEGMENTATION- could be a person’s age, income, housing type, and educational level. Some laptops are only targeted for women for e.g. Sony Vaio’s colorful notebooks are targeted only for women. People with higher income