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MARKET SEGMENTATION

Nivea employs market segmentation to tailor its products to diverse customer needs, ensuring high sales and market share. By dividing consumers into socio-economic classes, age, gender, lifestyle, and geographic locations, Nivea effectively targets its audiences. The main segments include skincare for young adults, moisturizers for middle-aged consumers, and anti-aging products for seniors. This targeted approach allows Nivea to develop specific products that resonate with each segment, contributing to its popularity and sales growth.

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MARKET SEGMENTATION

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  1. MARKET SEGMENTATION The division of potential customers into groups with similar characteristics

  2. Nivea

  3. Questions Why does Nivea have to segment the market? How have Nivea segmented their product range? List the 3 segments and explain what each segment uses the product for. How does market segmentation allow Nivea to maintain high sales/ market share?

  4. Segmentation SOCIO-ECONOMIC CLASS – Some business aim their products at specific social classes, and their income.

  5. Segmentation RELIGION / ETHNICITY – Products may be targeted towards specific religious / ethic groups.

  6. Segmentation AGE – The demand for some products is clearly linked to age. For example, holiday companies segments the market by age.

  7. Segmentation GENDER – Some business aim their products specifically at one gender, producing products just for women or men.

  8. Segmentation LIFESTYLE – This method of segmentation attempts to classify consumers according to their individual patterns of expenditure.

  9. Segmentation GEODEMOGRAPHIC – Segments consumers using geographic and economic factors. For example, where the customer lives and the type of house they live in. www.upmystreet.com

  10. How would you market: • Consider: • Age • Gender • Religion • Socio-economic class • Life-style • Geographic location Trainers Burberry hat Newcastle Brown Ale Bentley Incense

  11. http://www.youtube.com/watch?v=llJNwdV-G88

  12. Mass Market • This is where there is a very large number of sales of a product

  13. Niche market • This is a small usually specialised, market segment of a much larger market.

  14. Niche or mass market?

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