 Welcome back. So let us move on to some interesting concept in marketing which is segmentation. The job of any marketing function or marketing department in small business we do not have separate marketing departments but I say marketing function is to create strong brands. Now some of you might be laughing that how do I create brand with no or small budget? We will discuss this in the next session that what is a brand and how do I create a strong brand? Brands can be created not only with advertisement and promotion and not expenditure but there are other ways of creating brands. There are many companies who have created brands without you know much advertisement. Honda normally does not advertise. Honda has never advertised its cars in India but somehow they have very strong brand associated. Only recently they have and that too very small advertisement budget, very small promotional budget but they have such a powerful brand and so many values are associated with the brand that people just rush into buy a Honda car. Honda does not advertise much but it is only recent they have started advertising actually. Last 10 years they never advertised. So one of the very powerful concept in marketing is segmentation. The whole concept is known as STP, segmentation, targeting and positioning. This is the process normally when I say brand, brand means product or brand means the name of your product simply speaking. Brand is when you associate a product with a source, known source it is a brand, basic level branding. So it is not lux is a brand only but your product is also a brand if your customer associated with it, you that becomes a brand at very basic level. Now your task is to build that brand, build the brand equity with whatever means you have the positive brand equity. Now first step here is understanding customer and understanding the segment of customer who present their potential. So first step is segmentation and targeting. Then comes differentiation and positioning and then finally managing the brand equity. Segmentation is the act of dividing your market into small segments, small groups of customers who has homogeneous needs. At extreme level every customer is a unique and every customer has different needs. At highest level all everybody needs a similar product. Segmentation is somewhere in between. It is identifying a group of customers who have similar needs with some variation. So a process of segmentation target positioning is identify segmentation variable and segment the market, develop profiles of resulting segments, evaluate the attractiveness of each segment, select the target segment then position your product towards segment. So first step here is how do you identify the segments, what is the variable with which you segment the market. So act of dividing a segment into distinct groups. Why do you do segmentation targeting positioning? Just to focus your efforts in the market. You cannot sell to everybody and you do not want to sell to one. So you want to sell somewhere in between. It helps us in identifying new opportunities. When you segment a market you can identify opportunities of products or services to different segments. You can make your brands, your products more competitive. When you focus your efforts to one segment your products, your efforts are more competitive. It improves the efficiency and effectiveness of your marketing efforts because you are targeting, you are focusing on only a handful of customers or a group. So rather than thinking of a big market just think of a small segment in the market and focus your efforts. Framework, there is a big market. You have to select a smaller chunk of the market that is target market, identify the different segments in the market and then select again a smaller segment that is target segment. So very interesting process. We will see how market is the category you see yourself operating in. Target market is a small chunk of the market in which you actively target segment again small parts of the market, the target market which are relevant to you and out of all these small chunks you choose one segment and then you define a customer. You can give other way around also. Let us take an example you know. How do you do that? Just think this is a market. First you have to define your market what market you are operating in. That is a challenge actually. If I ask you what market Coca-Cola is operating in or say what market you are operating in. How do you define your market? Who want to get rid of unwanted. What are there any segments in the market? Are you aware of it is only women or it is a men also who can get it. No, no. You are targeting or not? I am talking of the market for your products. I am not talking of you are looking for. Yes men also can be market for this product. Overall market I am talking of right. Similarly I am saying Coca-Cola what market they are in. It is anybody who drinks. Anybody who drinks. Any mammal or any human being who drinks. Anybody. So this is a bigger definition of a market you can give actually. But like he says his target market is presently women. Right? Yes. This chunk. So he is ignoring the other market. Similarly Coca-Cola probably is focused on carbonated drink market to human beings. Not to other animals. Not lussies but a carbonated drink market. So this is the target market. Sometimes it seems very easy but it is a very interesting process. It sometimes becomes a very difficult process to identify. Now within this small target market the job is to identify the different segments. What are the different segments you can identify? It is college going girls, working women, women who are post-45, very senior citizen women like 70 plus. These are categorically majority. Good. So he is basically doing what? He is segmenting the woman market on a variable known as age. So age is he thinks that age is a important segmentation variable that he should segment on. Can there be any other variable which you can segment the market? Yeah. Their capacity to make decisions. Whether they can purchase on their own. Working women, college going girls, they are more likely to make that call. But lower income group may not be able to do it. So here he is segmenting on the base of income and profession. Good. What else? Can there be any other criteria of segmentation? Can there be need-based segmentation? Yeah. There is. If somebody is suffering from the specific cases where the growth tends to increase because of hormones or specific condition, those are typical and that can be across the age groups. So now he is not talking of age. He is not talking of income. He is just talking of a need. Pharmaceutical industries, if area having a large number of diabetic patients under such condition and entrepreneur, you want to launch an insulin product. Even though those, if the area is having a large number of college students like in the age of 18 to 20, 24, automatically some of the sports where companies they are launching to, what we are called as a genealogy. Even the division segmenting of peoples. So on that cases, in the special case of pharmaceutical companies, even though they are focusing on the age groups, sugar patients, you will like that. Yeah. See, just hold that. So he is now focusing on need, right? Yes, sir. So that is medical. Yeah. So can there be any other need for women to use that product? These are the majority ones that what I can say. Majority. So now can you segment, so he is basically slicing down the target market woman into various segments and need probably here he has two, one is medical problem and another can be probably, I do not know, some cosmetic. So he might think of choosing one market, say medical green. That is how you iteratively select your target market. Markets are made up of people, not products. Many of times we think of market as a product market. But he rightly said actually the market is of customers and people. What is the market for Maruti 800? This is the wrong way of saying. You can say that, but right way of saying is who need, who drives Maruti 800 car. So right way of approaching segmentation is just try to identify the need-based segmentation. So you can define a big market, the target market and a segments between the target market and then you decide to choose a segment. One person talked of security equipments. Now who would discuss with me? Yeah. Now how do you define the market for that? It is almost everybody. Just paraphrase that who needs security? Yes. That is the biggest. Then how do you, who is the target market? Well it could be based on the need of securing their valuables inside the house or the other could be, if they have dependence in the house, they are securing their dependence. So now you are targeting only one segment, that is household segment. There can be banks also. There can be ATMs also and there can be host of other institutions who may need, but you did not say that. Correct. So this analysis will help you in identifying, how do I define my market? He straight away came to the households, but you should come to the households by iterative process so that you should know that why I am, what I am targeting, what not. So what not becomes probably your market for the future. So you focus on a particular segment. For example he says I want to focus on households. Again you know households, can you further categorize households? Geography, okay. City-wise, okay say Bombay. How do you classify further? The type of house, maybe bungalow and a flat would have a different reference. Again I will say this is okay, but again further thing, what is the need? Can you define on the basis of need category? Probably once you have bungalows have a greater need because there is no kind of a, if you live in an apartment complex you have a social kind of a security which is built into the system. So now you are getting focusing. It makes your mind clear probably the first choice will be the people with the bungalow, right? I am not saying they might be profitable to you also. I am just saying you know how the things are clearer. It is a very good example for the Eureka Forbes demonstration. In his product he is trying to give a security that is a latent need. It is not in a perceived, it is not in the top layer. When he goes how can he demonstrate that? How can he get the latent need out for the person to actually come back into the same? He has to study his customers and their purchase behavior. It is not that he will go and they will allow him to enter his bungalow and demonstrate. It might be his distant dream actually. So he has to see how to approach them and he has to innovate. First step is very difficult, it is not easy you know. You have to study how he does, right? I am just saying I do not know. I am just conjecturing. They might have hired some security agency. So if he goes to security agency and try to push product through them that is the easier. He has to find ways. That is strategic marketing that becomes. Whatever you say. I am just saying he may not be allowed to enter actually. He says person will not be allowed to enter the bungalow. It is very difficult, right? So you have to see how the purchase, who influences that purchase. That is you have to study the purchase, process, purchase behavior. Who influences that purchase? Property is a security guard standing outside. If he belongs to some group 5 security 4, he has to find out. So there is no fixed way. You have to just say influenza study the purchase process, purchase behavior. Simply trying for entering the bungalow and demonstrating may not help. For example, you are selling a B2B product. Now you have to see who is powerful. Is the architect powerful, consultant powerful or user powerful? In some organizations the user is very powerful. In some organizations I have an extensively textile industry you know. So when textile industry was designed I have seen in some industries the architect was powerful who designed the premises. In some industry the consultant, electrical consultant was powerful who designed the electricals in that area. And in some industries in some companies the user was very powerful. So we have to find out who is the major influencing force and then that is the easier way to enter. The way you define your market also define the business you will enter. For example, he starts with the households. He becomes a consumer product supplier. If he starts targeting industries and banks he is in a different business domain. His market target market segment will change. Your scope of business will change the way you define your market. It is very important to do. If Coca-Cola defines the market as a beverage market then he will feel that I have 0.1% market share in India. Now they say we have 51% market share and they will think of host of new products rather than focusing on colas. But they have defined their market as probably a cola beverage market whatever. And not a beverage market. Now start with beverage market, alcoholic, non-alcoholic, then non-alcoholic, then you have categories milk based, water based, then water based, then you have you can category so many ways and then you can filter down. See in business is something like Google. So the users are those who use the internet. And the revenue comes from the ads. The people who put ads on Google. So now in this case what is the market for someone who is entering into similar kind of business? Means can you just elaborate like you want to compete with Google? No, not exactly compete with Google. Suppose I start a forum on some technology or some topic. So my business model will be the same like the users will be the people involved in that particular discussion. And I will be generating revenue from people who are giving ads. Let's say there is a site on some medical technology. So in that case the people participating in that will be doctors. But I am getting my revenue from pharmaceutical companies who will be putting their ads on the web site. So now in this case what is my target market? Means where should I target on? See this concept is nothing new. All newspaper publishing industry works on this concept. You know what is the cost of production of a newspaper? Users do not pay for you. It is an advertiser who pay for it. So this Google concept is nothing new. Only the enabling medium has changed. It is internet. Otherwise it is a paper. Nothing new. Now how the new magazine is launched? Just see. And how it is focused? How it is targeted? Process is same. Any business magazine, business world, business week, what is the cost? 20 rupees. Do you think the printing cost is 20 rupees? It is much more than that. I met one of the marketing manager. He told me we do not want to sell more. We lose on every copy. But it is the NRS survey we have to participate. So we have to look as if we are being more. You know people have more and more people are reading. Otherwise they lose on every. So same thing. This concept is nothing new actually. The thing is you know what determines? I will tell you. Having said this, you have to choose a segment which probably drives the 80% of your revenues. For example you are targeting for some, you have some objective? Some revenue objective? Some revenue objective. See it is not possible that you do not have any objective. It is possible. But you should have some objective for the sake of having objective. Then see what segment can give you that optimistically and then you target that. For example you probably think that education is a very, you know, is an industry which has a lot of money and people ready to give. You might think of students as a customer and probably focus your effort in that domain. Just I do not know. You have to see. You have to analyze in targeting like I said, you know. You have to evaluate the attractiveness of each segment. This third point. So it is like suppose I am focusing in such kind of business model. So my focus should be for both. Means whenever I am thinking of doing something, there should be a valuation on both the side. The users and the perspective. Persons will pay for it. So valuation should be for both whenever I am thinking of something. I happen to meet a Google sales person. I was in an educational institute and he came. He tried to sell his space. He said, why do you advertise your education institute? We said how? He said whenever they will write MBA keyword, your advertisement will appear. So both. So they were, they say people mostly attract the potential advertisers. So now again education institute in one segment. There can be doctors, pharma and so many other professional segments. Now education they focus on. Google is presently focusing on this area actually because who clicks most is that segment. They identify that students in the age group of X to Y are the most forms of chunk of their customers actually. So that they have done research knowingly or knowingly or through web also they can research. They can data mine that data and then focus on that. So you have to evaluate the attractiveness of each segment and then focus on a segment. Now having said this, how do we evaluate the attractiveness of each segment? There is some experience, some factual data collection, some research. You know again there is a contradiction you say there are so many operational issues, how do I do research? That you have to make a choice actually. If 5 rupees of investment in a research, if you think it can give you high dividends why not research? That you have to make. See rather than losing yourself in operational issues, if 5 rupees of strategic thinking give you a longer long term dividends why not? It is as simple as that. Then select a target and then do. Because the way you define your target market defines your competitive environment. People who want protection from mosquitoes in the home. This is an example. So if I say my market is this, I will manufacture what? Mosquito replants in all formats. If I define the market differently, people who want protection from household pests, I will be manufacturing products for mosquitoes, rats, cockroaches. So how do I define my market defines what I make? You can go this way round also. What you make? See you can serve which market? Profitably. People who want pest control then I will manufacture products, services, serving home, offices and other areas. My market and target market will vary as per my thought thinking of my market. I want to serve or I should serve. You cannot serve total market. You can serve only chunk of market. Start with a small segment of market. Then you will see, you will focus your effort on. Let us take an example. Again from a large scale organized industry only but it makes our thinking much clear actually. JK ties. What is the market it serves? People who own operate vehicles. That is how you define. Target market is greater than or equal to four wheeler. They do not manufacture two wheeler ties. They are very clear. DHL. So this is the data from an ad agency actually. Some market research. So this is reliable data. This is not hunch. People who want to send packages is the market. But in this market comes the postcards also. They are not. People who want to send express packages around the world. So they are very focused. This is one chunk of the total market. In this market people who want to send packages come here Indian postal services also and it goes from a postcard to anything else. Parts also. Big parcels but they are focused on a small target market. Dabur. What is Dabur's market? Dabur Chavanbrash? No. Chavanbrash is a preventive healthcare medicine basically. So you can start with the health market. You can narrow down to a preventive healthcare market. So you can safely say they are in a preventive healthcare market. And target market is people who want prevention from cough and cold. Pre-dominantly. It is not that only people who want prevention from cough and cold takes Chavanbrash. There are others also. But consciously they target towards that market. Research was done. And they know that this product will help. We are designing the product for cough and cold. Hence the product was designed. If it is a reverse approach where the need was identified and then the product was designed identifying the target segment, target market and further target segment is easier. Now if we design a product, how would we come to that point? Is it like not trial and error method we will reach that? Is there any other method to actually identify that target segment? Because I will only try and learn. See you never design a product for nothing. You always design a product with some need of customer in mind. With some customer in mind you always design a product. It has never happened in the history of our lives, human lives that some product has been designed without any thought of need actually. That never happens. So you might have thought some need of some person. So you might have, when I say some need of some person, I mean to say you might have thought of some market. I am just defining that here. In Darbar Chavanbrash, let us say we will move from Darbar Chavanbrash towards the actual target segment. My first identification of need is preventive healthcare. There is a need for this product. I am designing this product. I developed the product. Now after the product is developed, I go to the target market. Now when I am trying to identify the target market, there are eight, nine things that come on my table. Now I have to figure out from eight of them which is the most lever. The only method I know right now I am saying is trial and error method. Now just hold on. This is first three steps. I have not gone to segments and target segment. I go for Darbar Chavanbrash to the individual consumer. Just hold on for a minute. Jet airways. What is the market? How do you define the market? People who want to fly. The target market is people who want to fly on business. Need is saving time. That is understandable. They also carry couriers, jet airways. So that can also be a market similar to DHL. Yeah. But that is a slightly different segment. When I say jet airways, I am basically referring to the flyer segment. You can, that is different business actually altogether. So-called Deccan airways. Now it is King Visha Red. What is the market? Is it same as jet? So people who want to travel, slight difference. Travel and fly, you know. So they are targeting at travel segment, travel market wherein you rightly said, so target market is people who want to travel cheaper. Again, this is just target market. We have to see what are the segments within this target market. It is very broad definition of market and a target market. Now DHL, the target market is people who want to send express packages around the world. This is what they identified. What are, can we further slice down this market? If yes, how? How they have done? They have done like this. Image it. They are people who want to send any package, image it. Of course see, I am not talking of affordability here. Regular ad hoc, the people who, of businesses who regularly send and some send on ad hoc basis. There B2B means industrial customers who send on regular basis and ad hoc basis. This B2C segment, business to consumer. Like LIC sends packages to customers. This C2C also, a normal consumer send to relative to another city. There is C2B also, a customer sending packages to an industry or some institution. These are all possible segments which are available in this target market. You agree? But do you think DHL is targeting everybody? They are not. Whom they are targeting, we will see. What are the segments? Target market is people who want preventive healthcare from cough and cold. What can be the segments in this market? Anybody? So if you are a marketer of a double-chewel brush, what comes to your mind? Age wise, old people and children specifically. Old people and children. Prevention for young couples, prevention for small children, teenagers, adults, old people. So when you say age, it is from child to adult now. So these are all possible segments. So this is, I just want to demonstrate how step by step you can move on to your focused segment. JK tires, people who own cars, trucks, tractors, form equipment. Not two-wheelers, not cycles, not mopeds, not motorcycles, right? So target market to segments. So this is, now jet is targeting at which segment? Jet, people who want to fly same day, people who want to go on long business trips and people who want looking for service and on-time flights. These are segments in jet category. Any other segment you think of? There are many where child, children, age is also one, male, female but which is the relevant segment, relevant criteria of segmentation that you have to see. There are so many ways of segmenting a market but you have to see it should be need-based. Here I am talking of need-based. People who want to fly same day. So need is what? Going in the morning, come back in the evening. Why? I say one hotel. People who own long business trips. That is a different need altogether. Segmentation criteria can be numerous but what is the relevant and need-based criteria? People looking for service on on-time and on-time flights. Do you think these are same segments for A Deccan? No. They are not targeting business. It is not that some business people will not travel by A Deccan. They may travel but they consciously do not look for, do not target those segments. First class A travel is non-fly students, possible segments. Now having said these segments normally a good business man should try to target one single segment or two single segments which drives maximum of its revenue that he is, he has in mind. Suppose he wants one lakh of rupees of business. So which segment can give me one lakh of rupees of business? Approachable. That you can think of. Some gut filling, some factual data collection. So having said this, what do you think DHL actively targets B2B? They do not target C2C, they do not target C2B, they do not target B2C. Now you might be selling packages to your son, your brothers. You say, is there contradiction? No, there is no contradiction. The pricing to B2B will be entirely different from C2C. They will honour every package but there is marketing strategy, pricing strategy is entirely different. So if you want to send a package from Bombay to Delhi, they might charge some 300 rupees to 50, 200. For the same package to an industry, B2B industry, the rates will be entirely different. Maybe 60, 70 rupees. Dabber. Consciously targets small children and old elderly people. It is not that others do not. Now compare with Sona Chandi Chavanpras, you know, their target segment is different. If you have seen the advertisement or something, they are targeting different segment and they are not, they do not define their market as cuff and cold market. Jet airways, they started with only one segment. They went to industrial houses and focused on the people who want to come back same day. Why? They said you will save on your hotel cost. We will time our flights as per your needs. Go in the morning, come back in the evening. They build their operations on this platform. Air Deccan, first class rail travellers, non-flyers. They did not target students which was, which is one of the very important segment. Primarily that still it is very costlier thing to attract students. JKTIS, car trucks and tractors, not other vehicles, they do not target. These companies also focus their effort on just few segments. And once see, once you acquire that segment, acquire means, when you are confident in that segment, it is not you, you would not have competition in that segment, but still you are good in that segment, then you can move on to other segments. But building your capability to serve one segment is also a hurricane task. Now a small business has to again think, again go filter down from one to one segment, from one segment to another. So it is an iterative process actually, you know, from big market to a small segment. See the full example from packages, express packages, all possible segments and the target segment. So you have to know in and out of your target segment. Now challenge comes, forget market, just know in and out of your target segment. Size, contribution, customer profile, user behavior, purchase behavior, brand awareness, perception, everything. Then focus on that customer. Ideally you should define that customer. How my customer looks like, what he eats. See this, now I give you an extreme example, for example Sundrao, they conducted research and they did it. I am not asking you to go to that level. I am just saying to what level a good organized industry can go, defining single customer. How it might look like. But with your experience, with you getting in touch with customers and doing this process, you can also do that to some extent. But think this is important that you should know the in and out of your segment. The size, contribution, profile, behavior, awareness, needs, priorities. This is the paramount. You do not have to focus on your product only. But how, which customer will use that, how it will use that, needs, purchase behavior, how you will dispose that, you should know. A good segmentation should be measurable. Substantial, accessible, differential and actionable. Or everything may not be true for a small business who may not have data to measure each segment. You need data and research to measure each segment. You may not. But some gut feeling that this segment is important and profitable. I am not asking you to measure everything but still you are in market, you are in touch with customer, you can do some exercise. And actionable, differential. Similarly, you know for security equipment, your pricing to dwellers, pricing of a product to dwellers might differ from pricing of that product to say households or say security agencies or banks. When I say pricing is different, I mean your marketing strategy will differ. To start with, you might like to give free to few dwellers. Just try it. I am just saying, you know, not everybody, maybe one dweller, why not? If it generates interest, curiosity, usability, like he says, speed. I say, I can do it now. And they accepted and they did it. Something like this, you know. So once you start building your customer, you start building references, then it is relatively easier to go ahead. Way to segment a market. Consumer industries are segmented on different variables. Geography, region, city, metro, demographics, behavioral, occasion based, life cycle, race, occupation income. Whatever you think is useful. Industrial business markets are normally segmented like this. Few examples, which type of industry you want to serve? Should you serve manufacturing industry, mining industry, banking industry? Should you focus your effort only on banking industry to start with? Company size. Should you serve small businesses or large businesses or only government or railways or defense? Location, should you serve in a small location or same industry across locations? Technology, should you serve companies with a given platform, Java, Oracle, whatever, you know. Which software platform you want to target? Start with one. You can start with one and then move on. User or non-user status, you want to target the users, existing users or you want to convert non-users. There are different implications of targeting different segments. Customer capabilities, you want to get in touch with capable customer, knowledgeable customer or you want to approach different customers, educate them and do. How do you want to approach? Purchase approaches. I've seen many businesses who just limit themselves to government tendering. They have good relationships and many business who don't want to work with government for the problem of money and they want to deal with private businesses. So power structure, some people want to work in the company, deal with the companies who are engineering dominated, they have capability to serve them and some others. So you can segment your market on different variables and then focus on a segment and it makes more sense for all the businesses. We have more number of variables. Will it help or is it like we have to only have a few number of variables when we are trying to segment? Like, geography is one variable, age is one variable, profession is one variable, gender is one variable. I'm having five variables. Is it better that way or having focused one to? See, any point of time you have to choose number of variables. For example, if you think of a particular customer or say particular software company, you will have you can define that company by size, by location and depending upon your capabilities, you can then focus on either you should focus in an area or you have to move similar industries in different areas. That you have to limit on depending upon capabilities, internal strengths. I'll take his example. He was talking about publishing kind of where a forum is there. Now he will have certain kinds of users. They will be medically interested, let's take a topic like medical technology and people who are interested are doctors. The users are doctors, we know. Now his profile of subscribers will define his target segment also because he cannot go to non-pharmaceutical companies and sell it. He can only go to pharmaceutical companies because they are defining. So the segmenting is already done for him. Predefined the segmenting. That he has to go with. Apart from that he will introduce his own variables to further segment it. Is that needed or is it like automatic? See, if that segment he is able to serve till that variable then why not? If still that segment is much bigger then he has to see which further segmentation variable will help in focusing. When you say bigger it is always relative. What? What? Bigger means as per his capabilities of serving. As per his capabilities. Yes. Now again this is relative. You can increase your capabilities but somewhere you have to focus on. For example again you are reaching here also is questionable you know when I say segmentation important is to measure also. I am not saying you go and measure but still you should have some idea. For example you go and sell to some pharmaceutical company. They will not work on subjective ideas. They will say how big they will work on numbers you know. You should have some idea on what will be the numbers. Now how to generate their numbers is your skill and your research. You may not need a marketing research agency to do that. That you can do. You said something about capability. Yeah. So capability means in what aspect means your capital or infrastructure or... All. All. All. Considering everything. You talked about identifying a target segment, target market Define a typical customer. That customer definition means you are defining a segment basically. Yeah. No. Yeah. You have to define that segment. Means defining single customer means you are defining the segment. So there are, there can be other variables for business marketers. These are just representative of that. They can be demographic, operating, purchase. There can be more variables. You have to see which variable is more relevant in a given situation. For example, I can give you example of a consumer market. Lacoste. How many of you wear Lacoste? 1, 2, 3, 4, 5, 6. How many of you has capability to buy Lacoste? I think everybody. Capability to purchase Lacoste. What is the price of a Lacoste shirt? T-shirt? Why everybody does not buy Lacoste? Original Lacoste shirt is I think more than 1000 rupees. More than 3000 rupees. But all of you can spare 3000 rupees and buy a shirt. I am sure. But not everybody buys. Right? Why? Ever thought of? Culture issue. No. Availability is not an issue. If you want something, you can have it. I think it is a cultural thing. The brand value is not as good as much in the mouth of the consumer. We look at Nike. People do not find it valuable. I find it is very strange. In India, it is a cultural issue. I feel because none of us want to spend 5000 rupees on a shirt. Very few segment is there for that. It is a cultural issue. Even if we can afford, I can buy 10,000 rupees glasses and I cannot spend 5000 rupees on a shirt. It is a cultural issue. I have seen people who have capability to buy. They will buy say a brand like Alan Soli and not buy Lacoste. There are people who will buy a similar brand but not Lacoste. If we talk to Lacoste people, you know they segment and ask them how do you segment the market? They say who is your customer? Is your customer everybody who can afford a 3000 rupees shirt? He says no. Our customer is very focused. We define our customers by lifestyle variable. He is adventure seeking. He is sporty. We do not define our, he is young at heart. We are not defining by age. So we segment our market by psychographics. The state of mind. So their segmentation is different. Not age, not geography, nothing but state of mind. Of course purchasing power is an issue but people will buy a different brand not Lacoste. And there are people who only will buy Lacoste. And there is a history of the brand. They will go to the history of the brand and understand that. People may not play tennis and golf still buy Lacoste. It is associated with these games now historically. It is a psychographics. SUVs. Now how many of you have SUVs and will prefer to buy SUVs if money, if you have money? Versus if you have save money some people will like to buy a long season. Some people will like to buy any other car. Some people will save money. Some people will buy SUV only. Again SUV car is targeted at people who seek adventure. Who are young at heart. It typically lifestyle and adventure seeking behavior. Cut across age, cut across gender even. In India it is typically male. Cut across your profession. So some things are psychographics. So probably in your case I do not know it is psychographics you know which is important. For those women who are very particular about these things. Now how to find those women is the next thing. Should you go to that doctor only who treats such women. Should you go to that cosmetic shop who treats such women that is issue. Besides legal and medical issues I am not talking. I am just talking of market. I have given everything is there. So it is a psychographics which is more important. Ujala white whitener who uses those products, such products. Women who are manic about white clothes you know. It is not every person who uses white, who wear white shirts uses the robin blue or Ujala white. It is the women who are very particular about the whiteness. It is something psychographics mental mind. So this is also a way of segmenting the market. For certain cosmetics certain products have you heard of Botox? Who uses? Many people many women can afford that. Not everybody uses. Now how to some women who have something in their mind about looking good upliftment of skin or whatever you know. But how to find those women. Where to find those women. That is a task of a marketer. Maybe to some skin consultant or I do not know. So you have to see need based segmentation. Psychographic segmentation is again a very important powerful tool to identify customers. I have a question here. We are talking marketing and we are talking about the buying point. At buying point it is usually sales. These things I feel are under more psychoanalysis and all that. Why is he buying? Is more to do with the sales point of view rather than the marketing point of view. It is like for me when I am buying I can segment the market. I can say people who are earning so much are my market. After that why did he each person bought is always a psychological thing because he bought it for different reasons. I cannot obviously predict why did he buy at any point of time that is into sales rather than marketing. See that is why I say segments. Some segments will buy because of particular reason only. See that is a task of a marketer. See sales is what? Sales is a part of marketing and sales facilitates the transaction. What is sales? Just sales facilitation. Marketing is just a sitting and just thinking how do I sell, whom do I sell. I plan out something then I finally tell my salesman you go there is a 90% probability he will buy selling his facilitation of transaction. Now this is the task of a marketer to identify the purchase process of each segment. Now this is a skill. See if you are not able to do that then you are not doing good marketing actually. You must know see when I say defining target consumer it means I should know in and out of the consumer. How much time it takes to understand this? It does not see it is a mindset you know. Get out of operational issues. Just spend a day with the consumer and then see how does a day means you can understand that. For example you want to market some electrical product. Just go and spend couple of days in an electrical shop. Just see how people come, what behavior, how they display behavior, what purpose they go in and you can summarize to some segment. It is not difficult actually it does not take much time actually. It might take but it is more of a mindset than of actual. Okay you do not have time. Hire MBA students from a local MBA college. Pay him 5000 rupees per month he will happily work for that. You have to find ways and means you know summer internship and there are so many MBA colleges you know. 5000 rupees is something great for a local college and he will do everything for you. 8 hours a day, 25 days a month he will do it for you. What else you want? And you give him a certificate. His character is very good. He worked very hard. He will be happy with that. You have to find ways. It is not difficult. People are doing this. See again see I have seen people who go to these colleges, sell themselves, try to pick up the best student of those colleges. See these things will happen but within these constraints how you find a better person and make him work. Do you expect a person 25 days to work 25 days a month and 8 hours. You find discount you say he will work 20 days for 4 hours. Even 80 hours for 5000 rupees even if he gives one quality input then you are done and this is happening across 5000 for MBA engineering. If you go search for engineering graduate he will charge you can get him for lesser amount and make him do all these works. Not to speak of this organized sector big companies they even pay 5000 rupees per month to get these things done from IM graduates. That is a different issue. Let us not argue. But even you can do at your level at a different platform with a different money but you can do some strategic thinking, some research with your resources.