Market Segmentation And Its Benefits

Choose four print ads (which you have found on the internet,in magazines or newspapers for one product category of your choice(for example,ice cream)that targets FOUR different target markets in the country that you are taking this unit).For each of the ads write a description of what you think are the 3 demographic and 3 psychographic characteristics of the targeted market are .Explain using three market concepts.

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Market Segmentation And Its Benefits

Ad-1: Tata Nano: Cheapest Car in India

Tata Nano in India was projected as a cheapest car in India. With a population of more than 1.2 billion, country has huge market potential for the new car buyers. There are three demographic characteristic considered here. In age group, India has 65% population within the age group of 15-59 hence the target audience for the Tata Nano as it can be seen in picture is young and middle aged (Nagaporewalla 2012). In India, the wage earner and decision maker is primarily husband as proportion of married working woman is very less in the country. Hence the picture shows that of the Father. (Male). The third demographic characteristic is the income group. It is targeting lower middle class to middle class income group in the society who do not own a car and are looking at value for money. Hence the ad mentions about the mileage and is claiming to be Country’s best fuel efficient car, this is to emphasize a point that this is the best fuel efficient car you can get compared to options available in the market. First psychographic characteristics targeted by the company is people with simple lifestyle and looking for value for money for their purchases. Fuel efficiency is the primary factor rather than driving experience and luxury. Other factor is it is trying to empower the buyer by considering him smart decision maker as the line mentions “Take your own”. Picture of son enjoying like flying ride on the father’s shoulder is trying to send a message that Tata Nano can give the happiness to your child by providing the experience similar to flying in Airplane. (Tata Motors 2014)

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