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.
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An exploratory study on consumer buying behavior in Pakistani perspective
Author(s)- Mumtaz Ali, Jing Fengjie, Naveed Akhtar Qureshi
The main purpose of this study is to find out the reasons why customer behaving differently at the time of purchasing goods/services. The factors such as family structure, country of origin, age, culture, and advertising have an impact on an individual’s way of thinking and ultimately on consumers’ decision making process, where as price is associated to product. Further more this study will provide a detail view of the consumers’ way of thinking and will investigate the degree of association of five factors i.e. family structure, country of origin, age, culture and advertising on buying behavior. The all previous studies on consumer behaviour mainly focused on finding out the cultural influence on buying behaviour. But this research will in depth evaluate all those factors such as price, family structure, country of origin, age, culture, and advertising in context of Pakistani consumers’ buying behavior. These factors have been studied to a great extent, but very small numbers of marketing researchers have applied AHP approach in context of consumer buying behavior. For this purpose a survey was conducted based on personal interviews and focus groups. After that AHP – Analytical Hierarchy Process technique has been applied to investigate the interaction of one factor over another. These factors are also prioritized to see the priority of one factor over another. The results of study in detail show that only the price is a factor associated with product; while all remaining factors have great degree of association and impact on consumer psychology and ultimately on consumer’s decision making process.
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