Segmentation Analysis

Market segments for Softlogic life have been identified based on four major approaches such
as geographic, demographic, psychographic and behavioral segmentation. Further, customers
have been primarily divided into four groups based on the generations they belong as
generation Z, Y, X and Baby boomers. Geographic segmentation has divided the whole
population as urban and sub urban while demographic segmentation involves subdividing the
customers base on their age level, income level and occupation. Under psychographic
segmentation, the customers have been segregated based on their social class, life style,
personality and attitude. Further, behavioral segmentation has involved loyalty and benefits
expecting by the customers.
Target Marketing
Generation X can be stated as the target market for Softlogic Life. Individuals who are from
the age 40-55 years old from urban area will be targeted. Also, the target customers would
earn more than Rs.90,000 and working on managerial level professions and businesses.
Further, customers with higher social class and spending a high end lifestyle will be targeted.
Furthermore, target customers may include indifferent people with prestigious personality.
Additionally, this segment will expect life insurance as a retirement plan or as an investment
plan or an income replacement upon the death. Thus, the loyalty of these customers are
expected high.
Positioning
Softlogic Life insurance could position as highly reliable and quality product within the
market.
 Segmentation Criteria Gen Z Gen Y Gen X Baby Boomers
Geographic Population All Island Urban/ Sub Urban
Demographic Age 8-23 Y/O 24-39 (Millennial) 40-55 years old 56-74 Y/O
Income 15k to 20k 20k to 200k 90k to 450k 100k – 500k
Occupation Interns entrepreneur/ housewife/ Senior Managers/ Directors
Managers Directors/
Businessmen
Lower Lower / Upper Upper Middle/ Upper Middle/
Psychographic Social Class
/Middle Middle/High High High
Life Style Low Simple/ Middle High level life Aggressive
Personality Ambitious Ambitious/ Prestige Prestige Prestige
Attitude Curious Curious/ Indifferent Indifferent Indifferent
Behavioral Loyalty Low Average High High
Benefits expecting Very less benefit As a retirement plan, as an As a retirement plan, Income
expectation investment for the future as an investment for replacement for
the future, income family upon the
replacement upon the death
death
Appendix