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Unit 7: Service Segmentation and Targeting




             more  control  and  improved  security,  mobile  banking  also  delivers  an  alternative  Notes
             mechanism  for the  Power User  to pay.  Transactions not usually available  can now  be
             performed. Some  of the  transactions that  the Power  User requires and now  becomes
             available are  person to  person payments,  proximity payments, enhanced security for
             “card-not-present” transactions to name a few. All of these features are available in some
             format or another.
             It is clear that different market segments would require vastly different mobile banking
             offerings.

          Source: www.mbanking.blogspot.com
          Self Assessment


          State whether the following statements are true or false:
          1.   The consumers in a segment have similar preferences and lifestyles.
          2.   Market should be segmented in a way that each segment is accessible and measurable.
          3.   More intense the competition, more attractive will be the segment.

          7.2 Bases for Segmenting the Service Consumer


          A  service  marketer  can  segment  the  market  on  the  basis  of  demographics,  geography,
          psychographics and behaviour.

          7.2.1 Demographic Segmentation

          Demographic segmentation can be done on the basis of age, gender, family, income and education.

          Age

          It is generally believed that people belonging to the same age group act or behave in similar
          manner and they have specific needs and desires. Service marketers believe that as a person
          grows up in age, his needs and wants also change. Along with this, their ability and capacity to
          process information also changes.





             Notes   Illustration of Age Segmentation
             Infants’ market—from newly born - up to 1 year: Nursing, full-time nursemaid,
             Child market—1 year to 12 years: babysitting, crèche, play-schools, day-care centres, tuitions,
             ‘Sesame Street’, schools, ‘Kids Kemp’

             Adolescents’ market—13 years to 16 years: counselling, dental care,
             Teens market—13 years to 19 years: MTV, discotheques, sports, tuition, and entertainment
             Youth market—20 years to 35 years: MTV, nightclubs, sports clubs, package tours, ‘Barista’,
             pubs
             Middle-aged market—36 years to 50 years: Health and holiday spa, clinics, hospitals, resorts,
             leisure, marriage counselling,

             Elders/seniors  market—51  years  +:  Healthcare,  pension  funds,  housing,  recreation,
             physiotherapy.



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