Market Segmentation in India
India is one of the emerging markets and it is becoming more and more important buyer in our global economy. India has a nice percentage of world total population so if not right now, in few years, India will be one of the most important buyers in the world. That is why I will talk about market segmentation in India today.[ad#ad-4]
Very shortly, what is market segmentation and why is it so important? Market segmentation is dividing the market into parts/segments that are then easier for you to target with your marketing. Why is it so important that you do market segmentation in India? India has over one billion people and belive me, even though they have similar income, they are very different (you cannot have 1 billion people with same preferences). And those, right now still small differences, will become bigger and bigger as India evolves. And along that, market segmentation in India will become more and more important.
So how can you do market segmetnation in India right now?
1. Segmentation by income
We all know that India is a very poor country, but as in every country , India also has a “rich group of people”. You for sure need to divide the India market in those two groups, since the rich part can be very big buyer becouse of lots and lots of cash they have.
2. Segmentation by religion
The second very important segmentation by my opinion is segmentation by religion. India has many religions and with those religions many different cultures come. So you will need to adjust your marketing campaign to those cultures.
3. Segmentation by location
India also has a very different terrain, since it’s a big country. We all know that people in flat places and people in mountains want different products so market segmentation by location is in place in India.
I could go on more, but I belive it’s enough for start. Ask for more if you want to learn more about market segmentation in India.
Written by: Matt
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