Market segmentation is divided into three main segments * Geographical segmentation * Demographic segmentation Cryptographic segmentation 1. Geographical segmentation: The market is divided according to geographic criteria like nation, state, religion, countries etc. Geographic data create accurate profile of specific. For egg: In rainy season sells rainy clothes (like raincoat, umbrella etc) 2. Demographic segmentation: It delve to the market Into groups according to variable In age, family, gender, size of family, Income of the consumers etc 3.
Cryptographic segmentation: It Is a science which use In better understands all consumers according to their life style, personality, value and social-class. I am doing job in Baja] Company, after this company has monopolized in almost all field either in the field of manufacturing bikes or bulb, tube light etc. Earlier, the customers were not fond of verities because there were not too many verities in the market and less competitions, but, in present time a huge competition has been taken place that for survive in the market every companies should be update with their products, otherwise rival companies will lead them.
If we talk about the bike fashion we see that our youngsters like those bikes which must not be strong in pickup (60 km/h with ewe minutes) as well as good looking means It looks deferent from others, besides this, old eager want those bikes which run comfortably that they ride normally, to keep this In their mind all companies Like hero Honda release many bikes Like Hero stunner, CB, Karma for young generations. While, for old eager they released Slender, Passion, CD dawn etc, in same pattern Yamaha release Yamaha RI 5 which cost is almost RSI. 15,000 in present time, but give a good look which attract the customers. So, after much research on these companies, Baja Company wants to lease such bike series which is not only for young as well as senior can use it, so this company manufactured lots of bikes Pulsar and discover series for youngsters which not only good looking but also having that price which every customers can afford and easily buy the products and it also give good mileage than others companies bike, and from the point of view senior, whose ages is 40 years and above, they release Plating with self start facilities which Is easy In riding.
By all these Information I want to describe that Baja Company segmented It products In various disgorges according to customers' demand that's why this company Is going extremely good and successful in satisfied to consumers. If we talking about bulb, perfect light but also take few electricity and go long times. Especially CFML which cost are high but it work beyond one years and it takes less electricity and give light so much as a 40 watt tube light gives. There are many designs of CFML has been released in the market which selling is more than bulbs and tube lights.
So according to customer's choice and willing Baja] Company put down stylish CFML in the market which attract consumers with its designs but also reduce the electric bill of customers and supplies good light over all houses. So like this the company segmented it electric accessories in various styles, according to customers willing and choice. Marketing Plan Marketing plan is a marketing strategy which involves marketing plans for a firm's marketing activities.
Marketing planning process is process of business planning; in marketing plan all the firm's keep an eye on all marketing activities as well as competitors and they also come to know the view of the customers about their reduces like they are satisfied with their products or not, if not, know the reason of disliking and what they want improve in the products etc, because satisfaction of consumers is very important, after all whole marketing processes and successes are depend only upon customers. They are the important part of business. For e. G. If we talking about auto mobile all companies like Hero Honda, Yamaha, Baja] etc, manufactured ordinary bikes( like Hero Honda released CD 100 later Splendor , Yamaha XX 100 and Baja] released scooters and later Baja] Boxer) but, there were mom problems and deficiency took place in the bikes like the capacity of the engine was not good that was giving low mileage, pick up was ordinary and ordinary looks etc, after looking and analyzing all problems of customers all companies manufactured those bikes which are giving good mileage, capacity of engine is very good and all are stylish as customers wanted.
For e. G. :- Baja] released discover series, pulsar series, Hero Honda released Passion, Passion plus, CB, Karma etc, Yamaha released Yamaha RI 5 (but it is too costly), TV'S manufactured Apache etc. Beside these, all companies also release scoots for college going girls. Because they knew that all ladies can't ride the bikes that's why to keep in mind the facilities of girls they produced scoots which is very light with self start facilities, without gears.
These products became very popular among the girls, not girls even boy also taking ride of the scoots many times. Like this all companies conduct a SOOT (strengths, weakness, opportunities, threats) means they research on the behavior, likes, dislikes, what are the deficiencies in the product, what else and what new their customers want in their products and what other companies provided to customers and do better than them.