TARGET MARKET
TARGET MARKET
Important factors
-
Segments
overall attractiveness
-
Company’s
objectives and resources
Overall Attractiveness
-
Size
-
Growth
-
Profitability
-
Economies of
scale
-
Low Risk
EFFECTIVE
SEGMENTATION
Market
segments must be
•
Measurable
•
Substantial
-
Large and
profitable
•
Accessible
-
Reached and
served
•
Differentiable
-
Different
segments response differently to different marketing mix elements
Actionable
According to target the market, we have to more focus on the
few thing like
Ø Geographic
Ø Demographic
Ø Psychographic
Ø Behavioural
Geographical segmentation
-
Divide market in to geographical
units
•
Nations
•
States
•
Region
•
Countries
•
Cities
Operate in one or few
If
we take the first one, it is type of segmentation in which market divides into
geographical units such as nation, states, regions, countries, cities etc...
So
i can scatter my business according to these states where more passionate
people easily found who are interested in fitness ....like Haryana, Punjab etc
Demographic segmentation
Market
divided into groups
-
Age
-
Gender
-
Income
-
Occupation
-
Education religion
-
Nationality
-
Social class
Now
according to the 2nd.....most of the people join the gym between the
age of 20 to 34 so in demographic age is most concern matter.
&
income
Psychographic segmentation
-
Buyers
divided into different groups on the basis of
a.
Lifestyle
b.
Personality
c.
Values
If
we take the psychographic, people join the gym who want to ameliorate their personality
and want get better lifestyle
At
last behavioural , people join the gym in a occasion of new year to take batter
resolution ....and they want to join gym where they can ameliorate their personality
Very nice
ReplyDeleteBehavioural