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Market Segmentation for AC s & Soft drinks
Market
A place where goods are offered for selling and buying.
Segmentation
Divided into or made up into parts which something can be divided. (In general).
Dividing mass customers into a group of customers who share a similar set of needs and wants.
Market Segmentation
Based on descriptive characteristics
Geographic
Demographic
Psychographic
Behavioral
Geographic
The study of the earth and its features and of the distribution of life on the earth, including human life and the effects of human activity. 2. The physical characteristics, especially the surface features, of an area.
Region
City
Rural
semi urban areas.
Demographic
The study of the characteristics of human populations, such as size, growth, density, distribution, and vital statistics.
Age
Family size
Gender
Income
Occupation
Education
Psychographic:
A graphic representation or chart of the personality traits of an individual or a group
Life style :Culture-oriented,
Saving-oriented
Personality :Compulsive,
Authoritarian,
Ambitious.
Behavioral
The actions or reactions of persons or things in response to external or internal stimuli.
Occasions,
Benefits : Quality, service, economy, speed,
User status: Ex-user, potential user, first time user, Regular user.
Usage rate : Light, Medium, Heavy.
Loyalty Status: none, medium, strong, absolute.
Readiness stage: Un aware, aware, interested, intending to buy.
Attitude toward product : Enthusiastic, Positive, Negative.
How can you segment AC s & Soft drinks based on these characteristics
Not all types of segmentation are useful. It is important to recognize that a marketer needs to use relevant variables to segment a market.
That variables are
Measurable,
Size,
Purchasing power,
Substantial,
Largest possible,
Profitable,
Accessible,
Effectively reached,
Serving,
Actionable: Effective programs.