Market Segmentation

Market Segmentation:

“Market segmentation is the identification of positions of the market that are

different from one another.”
 Criteria for segmentation:
1. Identifiable

2. Accessible

3. Substantial

4. Unique needs

5. Durable
 Basis for Segmenting the market
1. Consumer based segmentation

a) Geographic Segmentation

b) Demographic Segmentation

c) Psychographic segmentation

d) Buyer Readiness
2. Product Related Segmentation

a) Product use situations

b) Benefit segment

c) Consumption

d) Decision criteria
3. Competition based segmentation

a) Hard core loyals

b) Soft core loyals

c) Switchers