Challenge Question 3 Chapter 3 This week you learned about segmentation at its r

Question

Challenge Question 3 Chapter 3 This week you learned about segmentation at its root in addition to its complex application. Your task is to talk about segmentation and positioning in its theoretical sense as it was talked about in class. (for example: What does it mean and what applications go with the positioning and segmentation concepts.) Secondly, I want you to use two product examples exhibiting their different types of markets that coincide with the segmentation process. THIS QUESTION HAS 2 PARTS ANSWER BOTH

Explanation / Answer

Market segmentation :

Market segmentation is a process of dividing broad group of potential customers in to sub groups who possess common interest and characteristics.market segmentation is nothing but the division of wide potential consumer in to different small groups by taking one common characteristic among them like lifestyle ,interest,age,gender.

There are four types of market segmentation:

1.Demographic segmentation : Demographic segmentation is done one the basis of age,gender,family size,income and occupation,religion and nationality.

2.Behavioural segmentation:Behavioural segmentation is done on the basis of behaviour,decsion making process,usage. It is avout buying pattern changes during festive season and normal days.

3.Psychographic segmentaion:psychographic segmentation is some what simmilar to behavioural segmentation it uses consumer lifestyle,Activities and interest.

4.Geographic segementation -geographic segmentation is done on the basis of geographic location.

*Market positioning:Market positioning is a process of establishing an image in the mind of consumer it tries to make the identity of brand in relation to its competing brand.positioning is about consumer's perception about brand .what is the image of brand in consumer's eye and a place it takes in consumer's mind.It about what comes in consumer's mind when he think about your brand.

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