Study of the key market segmentation and targeting strategies followed by the leading FMCG companies in India
Author(s)- Amandeep Singh, Anil Chandhok
One of the fundamental principles of marketing is the concept of market segmentation and targeting. So much so that it sometimes referred to as one of the potentially most creative areas of marketing. All knows that no one company can satisfy the needs of all of these potential customers, then how to segment the market and target the market is really a big question to all the marketers. Whether to target all the segments or one particular segment, then what will be the targeting strategy for each segment. The company has choice to choose from various concentrated strategies or a single undifferentiated market targeting strategy. This research paper is to give an outline of the various market segmentation and targeting strategies followed by the leading FMCG companies i.e. Hindustan Uniliver Limited (HUL) and ITC in India in the personal care products. It also tends to outline the various products that are being offered to each segment of the market. How they target the various segments of the market, what are their key strategies to target the customers in a segment, do the follow same target strategies for all the segments.