Project Report on Market Segmentation Essay
LIST OF CONTENTS SL NO | TITLE | PAGENO | I. | INTRODUCTION | 5-8 | II. | LITERATURE REVIEW | 9-15 | III. | RESEARCH METHODOLOGY | 16-19 | IV. | ANALYSIS | 20-31 | V. | FINDINGS | 32-33 | VI. | SUGGESTIONS | 34 | VII. | CONCLUSION | 35-36 | VIII. | BIBLIOGRAPHY | 37 | IX. | APPENDIX | 38-43 |
Market segmentation is the identification of portions of the market that are different from one another. Segmentation allows the firm to better satisfy the needs of its potential customers.
The marketing concept calls for understanding customers and satisfying their needs better than the competition. But different …show more content…
Sales Turnover | Rs (million) | US $ (in million) | 1994-95 | 11140 | 355 | 1995-96 | 13790 | 400 | 1996-97 | 15540 | 450 | 1997-98 | 18840 | 455 | 1998-99 | 22192 | 493 | 1999-00 | 22185 | 493 | 2000-01 | 22588 | 500 | 2001-02 | 23365 | 500 | 2002-03 | 27457 | 575 | 2003-04 | 28941 | 616 | 2004-05 | 29225 | 672 | 2005-06 | 37736 | 850 | 2006-07 | 42778 | 1050 | |
REQUIREMENTS OF MARKET SEGMENTS
In addition to having different needs, for segments to be practical they should be evaluated against the following criteria: * Identifiable: the differentiating attributes of the segments must be measurable so that they can be identified. * Accessible: the segments must be reachable through communication and distribution channels. * Substantial: the segments should be sufficiently large to justify the resources required to target them. * Unique needs: to justify separate offerings, the segments must respond differently to the different marketing mixes. * Durable: the segments should be relatively stable to minimize the cost of frequent changes.
Bases for Segmentation in Consumer