Page 8 - MARKETING & PUBLIC RELATIONS EBOOK IC88

 Further segmentation is possible on the basis of lunch time users and late night
users of the restaurants.
 A management institute customer would include different segments as to students
who enroll for the various courses, parents, or guardians of those students,
practising managers who could be visiting faculty at the institute.

2. Advantages of segmentation
 The advantage of identifying segments is that one can choose the segment which is
relevant for one’s transactios or business.
 Segmentation helps to identify the appropriate ways in which different customers
have to e served.
 Market research will help identify the characteristics and needs ofd the various
segments.

3. How to segment
 Geographic like region, density of population, clmate, rural, urban. One can choose
the area in which one wants to do business, within the city, coutry or globally.
 Demographic like family size, religion, sex, income, occupation.
 Psychographic like values systems, life styles, personality types motivations.
 Buying behavoiurs like volumes, frequency, delivery requirements, negotiated
contracts.
 In insurance, one basis of segmentation could be individuals versus corporates,
whose processes of buying and parameters of satisfaction are different.
 The segmentation could also be doner on the basis of the product being offered.
 Segmentation would be providing data on customer profile, which he is, what he
buys, how he buys, and end user versus intermediaries.

E. The marketing mix

1. The seven Ps
 The basic task of a marketer is to deliver to the computer, satisfaction. He does so,
by offering a product, at a reasonable price, at a suitable place and after appropriate
promotion.
 Some modern writers have used SIVA to present the markeing mix.
 These three P’S are people, process, and physical factors.
 Price includes concessions on basic price, discounts, credits, instalments.
 Place refers to all attempts to communicate about the product offer and includes
advertising and publicity, public relations, the choice of media and the manner of
presentation of messages, campaigns and sales promotions.

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