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EXECUTIVE SUMMARY

A market segmentation strategy requires a major commitment by the


organization. A firm adopts either a mass-market strategy or a market
segmentation strategy. There is no in-between.
Senior management must be involved, and a strategic decision is required to
effectively segment a market. The firm's marketing organization must be able to
execute alternative marketing strategies and vary pricing, promotion, and/or
distribution systems.
Also, R&D must be able to execute product variations, and manufacturing must
be able to produce those variations. Finance must be able to report costs, profits,
and margins by market segment, and marketing research must be able to
monitor and measure customer response and provide feedback to the
organization by market segment.
Typically, the firm will develop market segments for each product category
and/or broad geographic market. Next it will discern its current and proposed
positions within each of those segments and select its target markets on the basis
of the opportunities that exist in each segment.
At that point, the firm sets initial forecasts of the market demand for each
segment. Then, the firm will typically fine-tune its marketing mix to achieve
optimal positioning and penetration in each selected target market.
In this one month I conducted a survey, regarding A Study of the Market
Segmentation Strategies of Godrej Interio and Awareness of General Mass
about these Strategiesat Godrej Interio , to know the market segmentation
strategies of Godrej Interio.

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FINDINGS AND DISCUSSIONS


This project work tries to identify the awareness survey of market segmentation
strategies utilize by Godrej Interio. During conducting survey the main findings
are as follows:
After classifying respondents gender wise majority of respondents are found as
male.
After classifying respondents according to age group, it is found that majority
of respondents are from the age group of 30 years to less than 40 years.
Majority of respondents are married.
Majority of respondents are government employees.
Majority of respondents are belonging to the income group of 3 lakhs to less
than 6 lakhs.
Majority of respondents recall about furniture product whenever they hear
Godrej Interio.
Majority of respondents are utilizing news papers to search information about
Godrej Interio products.
Majority of respondents have already purchased Godrej Interio products.
Majority of respondents are having future plans to purchase Godrej Interio
products.
Respondents ranked psychographic segmentation bases and economic
segmentation bases as the most preferred rank.
Respondents consider psychographic segmentation base as the most important
one for Godrej Interio.

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Majority of respondents are thinking that Godrej Interio utilizes income as a


market segmentation base.
Majority of respondents are thinking that Godrej Interio utilizes psychographic
bases to segment the market.
Majority of respondents are thinking that Family Life Cycle plays a vital role in
segmentation of Godrej Interio products.
Majority of respondents are thinking that Life-style segmentation is the USP of
Godrej Interio.
Majority of respondents are thinking that Godrej Interio utilizes economic
segmentation as a base.
Majority of respondents are thinking that Godrej Interio utilizes benefit
segmentation as an important strategy.
Majority of respondents are believing that Godrej Interio utilizes effective
market segmentation tools.

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Limitations of the Study

First limitation of this project is time.


A portion of the respondents are not cooperative.
The researcher is unexperienced.
Biasness or prejudice of some of the respondents regarding any sort of
the information which is required for such study.
Not much of importance was attached to this task by some of the
Respondents.
The sample size of the respondents is very small.
The method of sampling is judgement sampling.

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CONCLUSION
Godrej Interio has a huge potential in Asansol market. The rapid transformation
of the city gives birth to ample opportunities. As this city is becoming more
populated and techno-savvy, stylish office premises, well decorated living
rooms, modular kitchens etc. will be in more demand. So for Godrej Interio a
brighter future is waiting.
The prime activity that requires attention from the side of Godrej Interio is
continuously monitoring over market segmentation strategies. A rigorous and
critical evaluation is the penultimate need for the development of modern
marketing strategies.
The utilisation of all the marketing mix elements in an integrated manner with
effective market segmentation strategy will obviously produce the desired
golden egg.

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RECOMENDATIONS
Godrej has its own charismatic power as a brand. So the reputation and loyal
customer base are obviously the assets of Godrej.
During survey the main points which are highlighted are as followsStudy of the following sub bases of market segmentation.
Product attribute preferences,
Values,
Product purchase patterns,
Product usage patterns,
Benefits sought,
Brand preferences,
Price sensitivity
Brand loyalty,
Socioeconomic status,
Deal proneness,
Lifestyles,
Self-image,
Attitudes and opinions toward one's environment.
Continuous monitoring over these bases is required to develop successful
market segmentation.

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BIBLIOGRAPHY
BOOKS

B. K. Karanjia (Godrej ,A Hundred Years 1897 1997 Volume I),


B. K. Karanjia (Godrej ,A Hundred Years 1897 1997 Volume II),
Philip Kotler Marketing Management,
Philip Kotler Principles of Marketing,
Kothari C.R.- Research methodology, Tata Mc Graw-Hill Publishing
Company Ltd., 1982.

MAGAZINES
CHANGE
INSIDE OUTSIDE

WEBSITES

www.godrej.com
www.godrejinterio.com
www.google.com
www.wikipedia.com

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ANNEXURE

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