Department of Business Management,
Jhulelal Institute Of Technology, Nagpur
Dr. Mahesh Suresh Chopde
Assistant Professor, Department of Business Management,
Jhulelal Institute of Technology, Nagpur
Consumer Segments based on psychographics is preferred over the traditional criteria of segmentation. Applying the Exploratory Factor Analysis, the study identifies the dimensionality of beliefs underlying attitude toward advertising in general (Ag). Hierarchical clustering and K-Means clustering has been used to identify the unique segments of consumers of Northern India, differing by their attitude toward advertising in general. Two segments ‘Ad Avoiders’ (45%) and ‘Ad Lovers’ (55%); have been identified. These have been profiled using the psychographic, demographic as well as behavioural variables. The results of the study will help the marketers in strategically targeting the consumers of North India.
KEYWORDS :- Psychographic Segmentation. Cluster Analysis. Attitude towards Advertisement in General.
Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for, some example consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable.
Generically, there are three approaches to marketing. In the undifferentiated strategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities.
In the concentrated strategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low prices. In contrast, most airlines follow the differentiated strategy: They offer high priced tickets to those who are inflexible in that they cannot tell in advance when they need to fly and find it impractical to stay over a Saturday. These travelers—usually business travelers—pay high fares but can only fill the planes up partially. The same airlines then sell some of the remaining seats to more price sensitive customers who can buy two weeks in advance and stay over.
The main objectives of the project are as follows:-
- To study the various segments of personal care products.
- To understand the segmentation adopted by HUL for personal care products.
- To study the positioning strategy followed by HUL for personal care products.
- To understand how the segmentation and positioning strategy are integrated.
A. Sampling method: – Survey method.
B. Sample size:-100
C. Survey instrument: Questionnaire
D. Data collection technique: – Primary Data and Secondary Data
Primary data: – Primary data is collected by interview and questionnaire.
Primary data are collected afresh and for the first time. It is the data originated by the researcher specifically to address the research problem. In this study, primary data is collected primarily to understand the existing selection process the organization is using.
Primary Data Collection Method Are:-
- Personal interviews
- General meeting of employees.
From the data collected with the people throw question, we found that pond’s are having a great feature which helps the people in buying decision.
Secondary data: – Secondary data is the information which is already exist, secondary data collected from newspapers, magazines, internet.
Secondary Data Collection Method Are:-
- Company manual.
- Information available on company website.
- Magazine & books.
Through the secondary data the people come to know about the products and this helps to know more about the ponds and its products.
E. Contact Method: – Personal Contact
F. Sampling Area: – Nagpur
TYPES OF RESEARCH
This research is conducted largely for the enhancement of knowledge, and is research which does not have immediate commercial potential. The research which is done for human welfare, animal welfare and plant kingdom welfare. It is called basic, pure, fundamental research. The main motivation here is to expand man’s knowledge, not to create or invent something. According to Travers, “Basic Research is designed to add to an organized body of scientific knowledge and does not necessarily produce results of immediate practical value.” Such a research is time and cost intensive.
Applied research is designed to solve practical problems of the modern world, rather than to acquire knowledge for knowledge’s sake. The goal of applied research is to improve the human condition. It focuses on analysis and solving social and real life problems. This research is generally conducted on a large scale basis and is expensive. As such, it is often conducted with the support of some financing agency like the national government, public corporation, world bank, UNICEF, UGC, Etc. According to Hunt, “applied research is an investigation for ways of using scientific knowledge to solve practical problems” for example:- improve agriculture crop production, treat or cure a specific disease, improve the energy efficiency of homes, offices, how can communication among workers in large companies be improved? Applied research can be further classified as problem oriented and problem solving research.
Problem oriented research
- Research is done by industry apex body for sorting out problems faced by all the companies.
- As the name indicates, Problem identifying researches are undertaken to know the exact nature of problem that is required to be solved.
- Here, one clarification is needed when we use the term „Problem‟, it is not a problem in true sense. It is usually a decision making dilemma or it is a need to tackle a particular business situation.
- It could be a difficulty or an opportunity.
- Poor quality of the product. • Lack of continuous availability. • Not so effective advertising campaign. • High price. • Poor caliber / lack of motivation in sales people/marketing team. • Tough competition from imported brands. • Depressed economic conditions
- In the same case, suppose the prime cause of problem is poor advertising campaign & secondary cause is higher pricing. • To tackle the problem of poor advertising, we have to answer questions like, what can be the new advertising campaign, who can be the brand ambassador, which media, which channel, at what time & during which programs advertisements will be broadcast
This type of research is done by an individual company for the problem faced by it. Marketing research and market research are the applied research. For eg:- videocon international conducts research to study customer satisfaction level, it will be problem solving research. In short, the main aim of problem solving research is to discover some solution for some pressing practical problem.
This research is based on numeric figures or numbers. Quantitative research aim to measure the quantity or amount and compares it with past records and tries to project for future period. In social sciences, “quantitative research refers to the systematic empirical investigation of quantitative properties and phenomena and their relationships”. The objective of quantitative research is to develop and employ mathematical models, theories or hypothesis pertaining to phenomena.
The process of measurement is central to quantitative research because it provides fundamental connection between empirical observation and mathematical expression of quantitative relationships. Statistics is the most widely used branch of mathematics in quantitative research. Statistical methods are used extensively with in fields such as
economics and commerce. Quantitative research involving the use of structured questions, where the response options have been Pre-determined and large number of respondents is involved. eg:-total sales of soap industry in terms of rupees cores and or quantity in terms of lakhs tones for particular year, say 2008,could be researched, compared with past 5 years and then projection for 2009 could be made.
Data Collection: Both primary and secondary data was used for the propose of this research to study the segmentation an positioning secondary data was used from following sources.
- Company Literature
- Company Websites
- Marketing Management (Eleventh edition) by Philip Kotler
- Global marketing Management (7th edition) by Warren J. Keegan
- Marketing Research by C.R. Kothari, New Age Publication
- www.hindustan unilever.com