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identifiable group within a market worth similar wants, purchasing power,
geographical location, buying attitudes or buying habits. (Kotler, 2000, p.256)
2.5.1
Market Segmentation Procedure
There
are
three phase
in
identifying the
market segment
i.e. survey,
analysis,
and profiling (Kotler, 2000, p.262):
Step One: Survey Stage
The researcher conducts exploratory interviews and focus groups to gain insight into
consumer
motivations,
attitudes,
and
behavior. Then the researcher prepares a
questionnaire
and
collects
data
on
attributes and their importance ratings; brand
awareness
and
brand
ratings;
product-usage patterns; attitudes toward the product
category; and demographics, geographic, psychographics, and media graphics of the
respondents.
Step Two: Analysis Stage
The
researcher
applies
factor
analysis to
the
data
to
remove
highly
correlated
variables, and then applies cluster analysis to create a specified number of maximally
different segments.
Step Three: Profiling Stage
Each
cluster
is
profiled
in
terms
of
its distinguishing attitudes, behavior,
demographics, psychographics, and media patterns. Each segment is given a name
based on its dominants characteristic.
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