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MEANING -
Marketing segmentation is a marketing concept which divides the
complete market setup into smaller sub-sets comprising of consumers with a
similar taste, demand & preference.
DEFINITION -
Market segmentation is the sub dividing of a market into
homogeneous sub-set of consumers where any sub-set may
conceivably be selected as a market target to be reached with
a distinct marketing mix.
Prof. Philip kotler
geographic BEHAVIOURAL
•age •lifestyle
•sex •personality
•religion •social class
•income
•family cycle
•family size
•occupation
•education
DEMOGRAPHIC psychological
Marketing mix
MEANING
A company’s marketing mix is the combination of marketing activities it uses
in order to promote a particular product or service .The variables such as
product, price, promotion & place managed by an organisation to influence
demand for a product or service.
DEFINITION
For achieve success in the market by the manufacturers. The
policies used or adopted from the marketing mix.
2) Marketing factors
a) Product planning
b) Brand policy
c) Packaging policy
d) Distribution channel
e) Personal selling
f) Advertising policy
g) Special sales promotion policy
h) Physical distribution
i) Market research
DEFINITION
A company’s marketing environment consists of the internal
factors and forces outside marketing that affect marketing
management’s ability to develop and maintain successful
transactions with its target customers.
1. Micro environment
The micro environment consists of the forces close to the company
that affects its ability to serve its customers. The micro environment
consists of some forces, that are-
1) Company
Purchase department, finance, research, operation, management &
other department.
2) Supplies
3) Marketing intermediaries
i) Physical distribution (warehouse, transportation)
ii) Marketing service agencies
iii) Financial agencies
4) Customer
i) Customer market
ii) Reseller market
iii) Government market
iv) Industrial market
5) Competitors
6) Publics
i) Financial publics
ii) Media publics
iii) Government publics
iv) Local publics
v) General publics
2. Macro environment
Company & all of the other factors operate in surrounded by the
macro environment. There are many factors which affected by the macro
environment. They are given below-
1) Demographic environment
2) Economic environment
i) Changes in income
ii) Changing consumer spending pattern
3) Natural environment
i) Shortage of natural resource
ii) Increasing population
iii) Increasing govt intervention in natural resource management
4) Technological environment
5) Political environment
6) Cultural environment
INFORMATION SEARCH
EVALUATION OF ALTERNATIVES
PURCHASE DECISION
1. Need recognition
2. Information search
i) Personal source
ii) Public source
iii) Experience source
3. Evaluation of alternatives
4. Purchase decision
5. Post purchase evaluation