Geographic Segmentation
Region
City
Demographic Segment
Age
Life Stage Gender
Income
Occupation Education Socio - Economic Classifications
Psychographic Segmentation
Science of using psychology and demographics
Better understand consumers Market is divided in groups
Based on personality,lifestyle,values
VALS framework
VALS Framework
Dimensions Consumer Motivation Consumer Resources
3 Primary Motivations
Ideals
- knowledge and principles Achievements - success to peers Self-Expressions - variety and risk
- seek value in products Achievers - success to peers Experiences- focus on fashion & socializing
Lower Resources
Believers - Concrete beliefs
Strivers
- Stylish products Makers - work with their hands Survivors - loyal to their brands
Behavioral Segmentation
Needs & Benefits Decision Roles
Initiator , Influencer, Decider, buyer and User.
Occasion User status Usage rate Buyer-Readiness Stage Loyalty Status Attitude Multiple bases
Market Targeting
Basis For Market Segmentation Segmentation Criteria Threat of intense segment rivalry Threat of new entrants Threat of substitute products Threat of buyers growing bargaining power Threat of suppliers growing bargaining power
Market Targeting
Going beyond the Yuppies
Individual Marketing
Ethical Choice of Market Targets
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