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A

PROJECT REPORT

ON

“MARKET SEGGMENTATION ”

SUBMITTED BY SUBMITTED TO

SONU KUMAR MISS KIRAN BEDI

FOR

PARTIAL FULFILMENT OF THE DEGREE

OF

MBA

(MASTER OF BUSSENES ADMINISTRATION)

UTTATAKHAND TECHNIQUE UNIVERSITY

DEHRADOON PIN ON 248001

2019\2020
DETAILS OF FILE

 Pages- 35-55
 Title Page
 Declaration
 Guide Certificate
 Acknowledgement
 Index
 Times new roman -12 size in paragraph, 14 for sub-heading & 16 for heading
 Properly aligned with 1.5 inch margin left & right
 Print out A4 size
 Page no. on right align in header
 Page no. in index match with page no.
PAGE SERIES

 Title Page
 Declaration
 Guide Certificate
 Acknowledgement
 Index (Table of contents)
 Introduction of the topic (overview, swot analysis)
 Objective of the study
 Literature Review
 Research Methodology
 Data analysis & interpretation
 Findings
 Significance/ future scope of the study
 Limitations of the study
 Suggestions/recommendation
 Conclusion
 Bibliography
 Appendix (Questionnaire)
DECLARATION

I,The undersigned, hereby declared that the project report entitled “Topic Name”
submitted by me to the university in the partial fulfillment of the requirement for the
award of degree of MBA (full form) under the guidance of “guide name” is my original
work & the conclusion drawn therein are based on the material/data collected by myself.

The report submitted is my own work & hence not from any other source.

I shall be responsible for any unpleasure moment/situation (if any)


GUIDE CERTIFICATE

This is to certify that student name is the bonofied student of MBA have successfully
completed the project work as described by the university in the partial fulfillment of the
MBA(full form) of the academic year 2018-19.

The project work entitled as “topic name”

Project guide

Signature
ACKNOWLEDGEMENT

A successful project is the result of team work & coordination that includes not only the
group of developers who put for the ideas, logics but also those who guide them. So, at
the completion of the project I feel obliged to extent my gratitude towards all those who
made valuable conclusions throughout my research period.

I am thankful for all the knowledge/guidance & support imparted by “guide name” to me
who gave me invaluable knowledge in the period.

In addition I wish to convey deep sense of gratitude towards “hod name” at any time. I
needed.

At the end just as significantly, I would like to express my sincere thanks to


management department & all the other members who have provided me excellent
knowledge & guidance throughout my MBA degree.
INTRODUTION OF THE TOPIC

Market segmentation is the process of dividing a market of potential customers into


groups, or segments, based on different characteristics. The segments created are
composed of consumers who will respond similarly to marketing strategies and who
share traits such as similar interests, needs, or locations.

Why is market segmentation important for marketers?

Market segmentation makes it easier for marketers to personalize their marketing


campaigns.

By arranging their company’s target market into segmented groups, rather than
targeting each potential customer individually, marketers can be more efficient with their
time, money, and other resources than if they were targeting consumers on an
individual level. Grouping similar consumers together allows marketers to target specific
audiences in a cost effective manner.

Market segmentation also reduces the risk of an unsuccessful or ineffective marketing


campaign. When marketers divide a market based on key characteristics and
personalize their strategies based on that information, there is a much higher chance of
success than if they were to create a generic campaign and try to implement it across
all segments.

Marketers can also us segmentation to prioritize their target audiences. If segmentation


shows that some consumers would be more likely to buy a product than others,
marketers can better allocate their attention and resources.
A marketing opportunity is a sales-accepted lead that has been qualified as being in
need of your product or service. A sales representative determines that there is an
opportunity to sell to this individual or company. Typically, the sales rep must determine
that the prospect has the budget,…

Marketing goals are specific objectives described in a marketing plan. These goals can
be tasks, quotas, improvements in KPIs, or other performance-based benchmarks used
to measure marketing success. When explicitly set, measurable goals are key for
marketers to be successful. Some examples of marketing goal

Benchmarking is the process of measuring a business’s performance against


competitors and industry standards. Companies benchmark to analyze their success
and get a better understanding of how they are performing relative to their competition.
Why is benchmarking important? Benchmarks provide valuable insight to decision
makers in…
SWOT ANALYSIS
STRENGTH (S): -

 Low cost producer of quality equipment due to cheap labour and fully
depreciated plants.
 Flexible manufacturing set up.
 Entry barrier due to high replacement cost of its manufacturing facilities.
 Large Pool of engineers.

WEAKNESSES (W): -

 High working capital requirement due to its exposure to cash starved SEBs
(State electricity boards) and High WIP.
 Inability to provide project financing.

OPPORTUNITIES (O): -

 High-expected growth in power sectors.


 High growth forecast in India’s index of industrial production would increase
demand for industrial equipment such better quality break disc pads.
 Rising living standard in the country.

THREATS (T): -

 Technical suppliers are becoming competitors with the opening up of the Indian
economy.
 Fall in global power equipment prices can effect profitability.
OBJECTIVE

West Pacific Marketing Consultants' objectives are to make an equal and fair
profit in the business-to-business (B2B) and business-to-consumer (B2C)
marketing services industry. This goal is to be reached by attaining the
numbers presented in the Sales Forecast and Financial Plan topics.

SUB OBJECTIVE OF STUDY

Marketing value of the company

Segmentation of the company

Marketing suppliers of company

Take a risk of the marketing


LETERATURE REVIEW

According to Charles W. Lamb and Carl McDaniel (2003), the first step in
segmenting markets is to“select a market or product category for study”. It may be a
market in which the firm has already occupieda new but related market or product
category, or a totally new one. The second step is to “choose a basis or bases for
segmenting the market”. This step requires managerial insight, creativity and market
knowledge. The marketing mix has been described as product, distribution, promotion
and price strategies which are used to bring about mutually satisfying relationships with
target markets.

Roger Best (1990) proposes a framework for implementing a market


segmentation strategy. He suggests a set of sequential steps to be taken in a needs-based
segmentation process the primary benefit of needs based segmentation is that segments
are created around specific customer needs. The goal is to determine what observable
demographics and behaviors differentiate one segment from another in order to make
need-based market segmentation actionable.

Craft, Stephen Show (2004) in his study that in general, customers are willing to
pay a premium for a product that meets their needs more specifically than does a
competing product. Thus marketers who successfully segment the overall market and
adapt their products to the needs of one or more smaller segments stand to gain in terms
of increased profit margins and reduced competitive pressures. Small businesses, in
particular, may find market segmentation to be a key in enabling them to compete with
larger firms. Many management consulting firms offer assistance with market
segmentation to small businesses. But the potential gains offered by market segmentation
must be measured against the costs, which—in addition to the market research required to
segment a market may include increased production and marketing expenses.
Wendell Smith (1956) suggested that segmentation, the division of a market into
groups of customers who share certain characteristics or propensities toward a product or
service, might be an effective way for an organization to manage diversity within a
market. Since that time, a rich literature has developed suggesting techniques and bases
upon which a single domestic market might be effectively broken into actionable
customer segments. While there is a large literature which focuses on the criteria that can
be used for segmenting a market, far less attention appears to have been paid to the
accompanying requirements for what Kotler (1998) terms effective segmentation.
Thomas (1980) argued that any proposed segmentation should pass four tests, namely
with reference to measurability, accessibility, stability and substantiality. However, there
are differences in the number and types of tests.

Baker (1996) includes uniqueness as an extra condition defining a "viable


market". Kotler et al (1998) omits stability and uniqueness but includes action ability.
Each test is variously described as a requirement or condition for establishing segment
viability. The rationale for each test is re-examined and substantiality is shown to be
unique, requiring a more precise definition The formula - segmentation, targeting,
positioning (STP) - is the essence of strategic marketing." (Kotler1994). Market
segmentation is an adaptive strategy. It consists of the partition of the market with the
purpose of selecting one or more market segments which the organization can target
through the development of specific marketing mixes that adapt to particular market
needs. But market segmentation need not be a purely adaptive strategy: The process of
market segmentation can also consist of the selection of those segments for which a firm
might be particularly well suited to serve by having competitive advantages relative to
competitors in the segment, reducing the cost of adaptation in order to gain a niche. This
application of market segmentation serves the purpose of developing competitive scope,
which can have a "powerful effect on competitive advantage because it shapes the
configuration of the value chain."
According to Porter (1985), the fact that segments differs widely in structural
attractiveness and their requirements for competitive advantage brings about two crucial
strategic questions: the determination of (a) where in an industry to compete and (b) in
which segments would focus strategies be sustainable by building barriers between
segments.

Through market segmentation the firm can provide higher value to customers by
developing a market mix that addresses the specific needs and concerns of the selected
segment. Stated in economic terms, the firm creates monopolistic or oligopolistic market
conditions through the utilization of various curves of demand for a specific product
category (Ferstman C., & Muller E., 1993). This is an expanded application of the
Microeconomic theory of price discrimination, where the firm seeks to realize the highest
price that each segment is willing to pay. In this case the theory's reliance on price is
Segmentation as a process consists of segment identification, segment selection and the
creation of marketing mixes for target segment
RESEARCH MATHODOLOGY

DATA COLLECTION

The task of data collection begins after the research problem has been defined
and research design chalked out. While deciding the method of data collection to be
used for the study, the researcher should keep in mind two types of data viz. Primary
and secondary data.

Primary Data: -

The primary data are those, which are collected afresh and for the first time and
thus happen to be original in character. The primary data were collected through well-
designed and structured questionnaires based on the objectives.

Secondary Data:

The secondary data are those, which have already been collected by someone
else and passed through statistical process. The secondary data required of the
research was collected through various newspapers, and Internet etc.
INTERVIEW

Interviews lead to a better insight to subjective & open questions almost all

interviewees responded.

SAMPLE UNIT

The sample unit consisted of all the departments of ARC SOLUTION.

SAMPLE FRAME

Consisted of a comprehensive list of all the employees of ARC SOLUTION.

SAMPLE SIZE

Sample size=15 out of universe of 100

SAMPLE DESIGN

Care was taken to choose the sample based on considerations like age, sex & work

experience of respondents thus enabling better representations of the heterogeneous

population. However, the sample design was that of “convenience sampling” or

“haphazard sampling” only. The time consideration & size of population were major

factors in determining choice of sample design.


ANALYSIS & FINDING

I am frequently stressed out at work.

0% 20%

50% 15%

15%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree
I have been passed up at least once for
a promotion in the past few years.

0% 20%

50%
30%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 0% of employees are strongly agree about the point
, 20% of employees are agree on the point, 30% are neither agree nor
disagree,50% are disagree and rest 0% of employees are strongly
disagree.
I spend parts of my day daydreaming
about a better job.

10% 0%
15%

15% 60%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 60% of employees are strongly agree about the
point , 15% of employees are agree on the point, 15% are neither agree
nor disagree,10% are disagree and rest 0% of employees are strongly
disagree.
I find much of my job repetitive and
boring.

10% 5% 0%
10%

75%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 75% of employees are strongly agree about the point , 10% of
employees are agree on the point, 10% are neither agree nor disagree,5% are disagree and
rest 0% of employees are strongly disagree.
I am mentally and/or physically
exhausted at the end of a day at work.

10% 5% 0%

85%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 85% of employees are strongly agree about the point , 10% of
employees are agree on the point, 5% are neither agree nor disagree,0% are disagree and rest
0% of employees are strongly disagree.
I feel that my job has little impact on the
success of the company.

20% 0%

50%
30%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 50% of employees are strongly agree about the
point , 30% of employees are agree on the point, 20% are neither agree
nor disagree,0% are disagree and rest 0% of employees are strongly
disagree.
I have an increasingly bad attitude
toward my job, boss, and employer

20% 0% 20%

60%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 0% of employees are strongly agree about the point
, 0% of employees are agree on the point, 20% are neither agree nor
disagree,60% are disagree and rest 20% of employees are strongly
disagree.
I am no longer given the resources I
need to successfully do my job.

0% 10%

30%
60%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 10% of employees are strongly agree about the point , 30% of
employees are agree on the point, 60% are neither agree nor disagree,0% are disagree
and rest 0% of employees are strongly disagree.
I am not being used to my full
capabilities.

0%
40% 40%

20%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 0% of employees are strongly agree about the point
, 40% of employees are agree on the point, 20% are neither agree nor
disagree,40% are disagree and rest 0% of employees are strongly disagree
I have received no better than "fair"
evaluations recently.

25% 0%
40%

35%

Strongly Agree Agree


Neither Agree nor Disagree Disagree
Strongly Disagree

This graph shows that 40% of employees are strongly agree about the
point , 35% of employees are agree on the point, 25% are neither agree
nor disagree,0% are disagree and rest 0% of employees are strongly
disagree.
FINDING
 A Priori segmentation. A-priori (pre-existing) segments are the most basic way of
creating market segments. ...
 TO Usage segmentation (also known as decile analysis or pareto analysis) A
usage segmentation is based on prior behaviour. ...
 TO Attitudinal research and cluster analysis. ...
 TO Needs based segmentation.
SIGNIFICATION
 To segmentation est l’action de decoupage d’ une population (clients,
prospects) en sous ensembles homogènes selon différents critères (données
socio-démographiques, besoins,
 To comportment d’achat, RFM, ..). On parle alors de segmentation du marché
ou de segmentation de la clientèle selon le contexte.

Les critères de segmentation choisis doivent permettre d’obtenir des segments


de population homogènes, de taille suffisante et opérationnels.
 To Un segment est dit opérationnel lorsqu’il est possible de l’adresser de
manière spécifique.
 To La taille des segments retenus doit être suffisante pour permettre la
rentabilité d’une approche spécifique de ces segments.
La segmentation permet d’effectuer des actions marketing différenciées en
fonctions des segments et de proposer éventuellement une offre produit
spécifique à chaque segment tout en veillant à éviter d’éventuels conflits de
segments
 To Il est également possible de faire le choix de ne s’adresser qu’à un seul
segment de marché.
LIMITATION
 To The Popular DSP-Sine Wave Inverter Technology was invented in year 2002,
by Mr.... Advanced DSP based
 To technology for absolute and stable sine wave output.... It is integrated with in-
built fully regulated MPPT Solar Charge Controller for max.
 To Limitation of liability for maritime claims is a concept of respectable antiquity
which is now deeply entrenched in the maritime industry.
 To Under this concept, the shipowner is entitled to limit his liability for maritime
claims up to a maximum sum regardless of the actual amount of the claims.
RECOMMANDATION

 To his blog post first appeared in the Arts Marketing Association’s, Journal of
Arts Marketing, and we are now sharing it with Smartinsight's readers.

 To For more free resources, case studies, research and toolkits to promote art,
culture and heritage visit culturalhive website.

 To In an ideal world we would treat everyone as an individual and tailor and


promote our offer accordingly.

 To But this is impractical. Treating everyone as an homogenous mass however


is ineffective - one size does not fit all. Segmentation provides us with a happy
medium.

 To Segmentation is a fantastic way of reaching different people with different


messages and can vastly improve how you cater for people.

 To It means you can be strategic about audience growth and development of


audience relationships.
CONCLUTION

 To Here are a few strategies and tips to help you navigate your way through
market segmentation. Start simple.
 To Demographics provide a clear-cut way to divide a large market.
Psychographics. Behavioral. Geographic. Industry type or company size.
 To We may often want to analyze each segment separately, as they may ...
mathematically using distance metrics, one
 to can find different segmentation solutions.
 To Market segmentation is key to ensure that marketing efforts are targeted
enough to drive conversions. Learn more about creating segments that can boost
profit.
BIBLOGRAPHY

Get this from a library! A world bibliography of bibliographies and of bibliographical catalogues,
calendars, abstracts, digests, indexes, and the like.. [Theodore ...
More like this: User tags; User lists; Similar Items
Edition/Format: Print book: English: 4th ed., rev. ...
Author: Theodore Bester man
Subjects: Bibliography of bibliographies. Biblio...

https://www.worldcat.org › title › oclc

https://www.mla.org › Publications › MLA-International-Bibliography


QUESTIONNAIR

1. Name :
2. Age :
a. 20yers To 25yers [ ]
b. 26yers To 30yers [ ]
c. 31yers To 35yers [ ]
d. Above 36yers [ ]
3. Gender:
a. Male [ ]
b. Female [ ]
4. Marital Status:
a. Married [ ]
b. Unmarried [ ]
c. Divorce [ ]
d. Widow [ ]
5. Family Size :
a. Nuclear [ ]
b. Join family [ ]
6. Monthly Salary:
a. Below 6000rs [ ]
b. 6001rs To 12000rs [ ]
c. 12001rs To 18000rs [ ]
d. Above 18001rs [ ]
7. Education Qualification:
a. Illiterate [ ]
b. Up To 12th [ ]
c. Up To UG Degree [ ]
d. Up To PG Degree [ ]

e. Up To Diploma [ ]

8. How Do You Come To Know About The Organization:


a. Friend [ ]
b. Relative [ ]
c. Neighbour [ ]
d. Nearby Home [ ]

9. How Long You Work In This Organization:


a. Below Two Years [ ]
b. Two Years To Four Years [ ]
c. Four Year To Six Years [ ]
d. Above Six Years [ ]

10. What Motivated You To Take Up Job:


a. Salary [ ]
b. Native Of Job [ ]