Study of a demographic  sh argon and its sub  incision f wholeing in the  eon  convention 18  division to 25  geezerhood Saneel Gaonkar IBS Gurgaon Study of a demographic  p dodgeicle and its sub  element f bothing in the  term  collection 18 year to 25  historic period Introduction   distinguishable  configurations of  masses display  distinct  purchasing patterns even in a  segment of  sequence  base 18 years to 25 years. This truth is well  mute by those  tidy sum who   ar  amenable for   groceryplace  interrogation,  convergence development, pricing, sales and st valuategy. commercialize   slice is the identification of portions of  commercialize that  atomic number 18  various from  angiotensin-converting enzyme an    freshly(prenominal)wise. E real  idiosyncratic f on the whole(a)s under  unity or other demographic segment of the  inn Mr. Philip Kotler has  define a   trade segment as a  concourse of  customers who   get rid ofice a standardized set of of necessity and wants (P   hilip Kotler, 2009).  A market segment is a sub-set of a market made up of people or organizations with one or to a greater extent characteristics that  practise them to demand similar product and/or services establish on qualities of those products  much(prenominal) as  scathe or function.The criteria that a true market segment should  stand  atomic number 18 as follows distinct from other segments, homogenous   indoors the segment, it responds similarly to market stimulus and it  give the gate be r distrisolelyivelyed through market intervention.  lookers  savor to define segments by  smell at descriptive characteristics geographic, demographic and psychographic. Then they  fancy whether these customer segments exhibit different   get hold offully or product responses. Few other  seekers  attain tried to define segments looking at   carri bestrideal conside proportionalityn such(prenominal) as consumer responses to benefits, use occasions or  pits. lookers than see whether differe   nt characteristics argon associated with  several(prenominal)ly consumer response segment. (Philip Kotler, 2009). The key here is to  light upon customer differences. The major  naval division variables  be geographic, demographic, psychographic, and behavioral  segmentation. Living in metropolitan  city  handle Mumbai exposes you to a  blanket(a) competitive market in all sectors. Segmenting Consumers in Mumbai by  utilise these segmenting proficiencys gives a thorough idea of the consumers in Mumbai GeographicGeographic segment calls for division of the market into different geographical units such as nation, states, region, countries, cities or neighborhoods. In India geographic segmentation assumes importance due to variation in consumer preferences and purchase habits crosswise different regions, and across different states. In India rural and urban markets differ on number of different essential parameters  standardized literacy levels, in number, spending power.  in that resp   ect is a vast difference in infrastructure such as electricity,  ring network and roads.The  want to segment the market geographically becomes cle  arr when we look at  around of the characteristics of the market. In India  in that respect  argon 5000 t testifys and  everyplace 6, 38,000 villages (Pradeep Kashyap, 2003-04) (Philip Kotler, 2009) Region Mumbai  travel in  Hesperian region of India. There  ar   hardly a(prenominal)er signifi squirtces of this region that  need attention, Maharashtra the state with Mumbai as its capital derives its  coating from Indo  Aryan Vedic culture influenced by the Maratha Empire and the British Empire. City of MumbaiAccording to 2011 census, the population of Mumbai was 12,478,447 (The  fipple pipe General &  number Commissioner, 2011). (censusindia. gov. in) According to extrapolations rail counsel  carried  forth by the World Gazetteer in 2010, Mumbai has a population of 13,830,884 and the Mumbai Metropolitan Area has a population of 21,347,41   2. The population density is estimated to be  rough 20,482persons per squ be kilometer. The sex ratio was 838 (females per 1,000 males) in the island city, 857 in the suburbs, and 848 as a whole in Greater Mumbai, all numbers lower than the national  clean of 914 females per 1,000 males. PopulationIndia. com, 2011) The low sex ratio is  partly because of the  orotund number of male migrants who come to the city to work (Parsis top literacy, sex-ratio charts in city, 2004) As Per 2011 census, Greater Mumbai, the  field of operations under the administration of the BMC, has a literacy rate of 94. 7 %,  naughtyer(prenominal) than the national  mean(a) of 86. 7%. (The Registrar General & Census Commissioner, 2011)Sixteen major languages of India  be also  intercommunicate in Mumbai, most common organism Marathi, Hindi, Gujarati and English.The religions followed in Mumbai include Hindus (67. 39) , Muslims (18. 56%), Buddhists (5. 22%), Jain (3. 99%), Christians (4. 2%), Sikhs (0. 58%),    Parsis and Jews  qualification the rest of the population. (Mehta, 2004) Mumbai is also  radical to the  expectantst population of Parsi Zoroastrians in the world, with  nigh 80,000 Parsis in Mumbai. (The worlds  boffo diasporas) Looking at the  entropy it is clear fact that Mumbai is a large market with intelligent customer. Amount of  picture show to brands and products a person goes through in Mumbai is vast. CultureThis  inquiry also includes   decreeing new potential markets in the age group of 18 to 25 years, for this  manipulation  chouseing the culture of Mumbai is also essential. The culture of  all place is alship  dopeal  dogged from its people, cuisine, religion, language and festivals. Mumbai has a mixture of people from various communities and subsequently they follow different religions. The metropolitan observes modern trends here people enjoy participating in all festivals irrespective of caste, creed and color. Mumbai is the birthplace of Indian cinema. The influen   ce of the Bollywood in the cities culture is observed.The ethnical heritage of Mumbai presents a combination of  obsolete and new. The bindaas or c arfree approach of the Mumbaikars comes  animated in their dialect of Mumbaiya Hindi too. (Principal Cities)  economic system Mumbai is the financial and commercial capital of India. It generates 6. 16% of the total GDP. It is the economic hub of India, contributing 10% to factory employment 25% of industrial output, 33% of income tax collection, 60% of custom duty collection, 20% central  come to duty collection ,40% of Indias  hostile trade , Rs 4000 crore in corporate taxes. The worlds successful diasporas) In April 2008, Mumbai was ranked seventh in the list of Top Ten Cities for Billionaires by Forbes magazine, (Forbes Magzine) Demographic In demographic segmentation, the market is divided into groups on the basis of variables such as age, family size, family lifecycle, gender, income, occupation, education, religion, race, generati   on, nationality, and  genial class. Demographic variables   ar very popular among marketers as they  be often associated with consumer  require and wants a nonher is that they   ar easy to measure. (Philip Kotler, 2009)Age and Lifecycle Age and Lifecycle are important variables to define segments as the of necessity and wants of the consumer change with age. Johnson & Johnsons baby  ve riseable oil which is popular in India is a  spotless example of product of infants. (Philip Kotler, 2009) This  look into is  pore on the market segment which  move in the age group of 18 years  25 years. Consumers  travel into this age group   whitethorn  throw off the  surrendering into this group may be college  qualifying students, working, pursuing higher education, married and working, having their  confess  product line . Their wants and  inescapably differ from each other.College  spillage students  bequeath  wear their   open got wants and needs, what a college student would need is educatio   n, books, c dowryhes,  feed his wants are a cricket bat, mobile,  round etc, he may desire to get education in a higher graded college, a car, Touch  cloak mobile etc. Working consumers  fuck off different needs compared to students. Working consumers may need a mobile, laptop, bike, blazers he mechanically becomes a  future customer to  accommodate development companies, car companies, furniture companies,  air companies, Food chains, financial service companies,  spend tours and travel package companies etc.Consumer who I married and working may need jewelry for his wife, furniture for his house and other consumer durable and non durable products, prospective customers for car manufacturers, Insurance companies etc. Consumers having their  take business may need, a working space, desks, electricity, acs, he may become prospective customer for insurance companies, luxury car companies, High end products etc. So Consumer pursuing higher education  gos  surrounded by these four sub-s   egments, His needs are all a mixture of all three, he  get out be acquiring married so all the needs and wants of a married working is a part of this consumer group.So by this we  bay window infer that this wants and needs of this group is a mixture of all the other sub- segments. gash this segment further by grammatical gender we find Men and women are different in their behavior,   interrogation shows that women are  apparent to pick up the product without  cause  dapple men often like to read product in figation  earlier buying. (Philip Kotler, 2009) Income Income segmentation is a long  stand up practice in variety of products and services.Income determines the  mogul of consumers to participate in the market  switch and hence this is a basic segmentation variable (Philip Kotler, 2009) Slicing the segment on the base of income we may see college going student, Students pursuing higher education are dependent on their familys income , while other sub- segment are earning consumer   s who  crack their consumption pattern through their own pocket. Psychographic Segmentation Psychographic Segmentation is the process of using psychology and demographics to better understand consumers.In psychographic segmentation, buyers are divided into different group establish on psychological systemal /  record traits, lifestyle or  determine. People within the same demographic group  hind end exhibit very different psychographic profile. (Philip Kotler, 2009) VALS (Values, Attitudes and Lifestyles) (Philip Kotler, 2009)is a   chief methodological analysis used for psychographic market segmentation. VALS was developed in 1978 by Arnold Mitchell and his subordinated at SRI International VALS Framework and Segment  pioneer These Consumers have the highest incomes, and such high self-importance-esteem and abundant resources that they  arouse indulge in  each or all self-orientations and are on the leading edge of change,  reach is important to them as an expression of taste, inde   pendence, and character. Their consumer choices are directed to fightd the finer things in life.  ? Thinkers These consumers are the high-resource group of those who are motivated by ideals. Their characteristics are mature, responsible, well-educated professionals. They have high incomes but are practical consumers and  reasonable  decision makers. Believers These consumers are the low-resource group of those who are motivated by ideals. They are  certain and  buttoned-down consumers who  party favour established brands. They have modest incomes. ?Achievers. These consumers are the high-resource group, motivated by achievement. Work-oriented people who get their satisfaction from their jobs and families fall under this category. They are politically conservative and respect authority and the status quo. They favor established products and services that show off their success to their peers. ?Strivers. These consumers are the low-resource group who are motivated by achievements.They    have values very similar to achievers but have fewer economic, social, and psychological resources. Style is  super important to them as they strive to emulate people they admire. ?Experiencers These consumers are the high-resource group of those who are motivated by self-expression. They are the youngest and  enterprising of all the segments, . They have a  weed of energy, which they pour into physical exercise and social activities. They are avid consumers, spending  heavy on clothing, fast-foods, music, and other youthful favorites, with particular proposition emphasis on new products and services. Makers These consumers with low-resource group of those who are motivated by self-expression. They are practical people with value self-sufficiency. They are  concentrate on the familiar-family, work, and physical recreation-and have little interest in the broader world. As consumers, they appreciate practical and functional products. ?Survivors. These consumers are with lowest income   s. They have too few resources to be included in any consumer self-orientation and are thus located  infra the rectangle. Oldest of all the segments, with a median age of 61. They tend to be brand-loyal consumers.The age group taken into consideration here is 18 to 25 year. Some of them may fall into Experiencers segment who are young and  hardworking and who are motivated by self expression. Some of them are thinkers, i. e. Smart buyers.  behavioral Segmentation Behavioral segmentation divides a population based on their behavior, the way the population respond to, use or know of a product. Consumer behavior is a subject studied in  perspicacity over time in  marketing management. This is  master(prenominal)ly because there are several factors which a consumer takes into consideration before  taking a decision. and then consumer decision making is affected by his behavior and that is  barely how the behavioral segments are targeted. (Philip Kotler, 2009) Forms of Behavioral segment   ation buying on occasions Buying on occasions is the first  work out of behavioral segmentation. Products such as chocolates and  grant foods will sell on festivals. Similarly, confectioneries will sell when there is a party.  and then these products are generally targeted by behavioral segmentation. Benefits  desire  Several products are targeted towards the benefits sought by the customer.Recently, there has been a war between Colgate and sensodyne to target the people who have sensitive teeth. Similarly, there are other toothpastes which are targeted towards whitening of teeth. Hair shampoos are targeted towards split ends, anti dandruff or others.  devotion  There are two ways to grow a business. First is to  originate new customers and second is to retain your  real customers. The  more than loyal your customer is to you, the more your customer base will increase. Thats one more kind of behavior which marketers target.The strategy for brand loyal customers is very different fro   m that used for acquiring new customers. Usage rate  In residential or commercial segment, the usage can be demonstrated in the form of heavy usage, moderate usage or lesser usage. Taking the example of  dish antenna parlors or personal care. There are some customers who use a lot of personal care products whereas others do  non use personal care products much. Thus depending on their usage the customers can be targeted. Among the age group that we are focused on one may find all such behavioral buying patterns.A person can be loyal to one brand for one product , but for other product he may switch brand as he is getting discounts. Research Methodology Data Gathering and depth psychology To have a clear  comprehension of the term  seek one should know the meaning of scientific methods. The two main terms,  search and scientific method, are  most related. Research as we have already stated can be termed as  an inquiry into the nature of, reason for and the consequences of any particu   lar set of the cir germstances, whether these circumstances are experimentally controlled or recorded  fairish as they occur.Here the researcher is  elicit more than particular results he is  evoke in the repeatability of the results and in their extension to more complicated and general situation. Research in common refers to a search for knowledge. Research can also be  delineate as a scientific and  doctrinal search for pertinent information on a specific topic. It is usually an art of scientific investigation. The purpose of research is to  visualise answer to question through the  cover of scientific procedures. The main aim of research is find out the truth which is  unfathomable and which has not been discovered as yet.Research  methodology is a way to consistently solve the research problem. It may be understood as science of   analyse how research is done consistently. It has many dimensions and research methods do constitute a part of Research Methodology. The scope of Res   earch methodology is wider than that of research method. 1. Why a research study has been undertaken? 2. How the research problem has been  specify? 3. In what way and why the theory has been formed? Are usually answered when we  lambast of research methodology concerning a research problem or study.Whatever may be the types of research works and studies, one thing i. e. important is that they all meet on the common ground of scientific method employed by them. The research methodology can be defined as a way systematically solves the research problem along with the logic  buns them. Researchers not only need to how to develop certain indices, how to calculate mean, mode, median and how to apply particular research technique and what would they mean and indicate and why?  in all this means that it is necessary for the researchers to  excogitate his methodology for his problem.The scope of Research methodology is wider than that of research methods. Thus research methodology deals it   self not only with research method but also in considering the logic behind the methods used in the research study. Research Design The research design is the conceptual structure within which research is conducted. It is a plan of action, a plan of  collection and analyzing  entropy in economic, efficient and relevant be manner. It contains the blue print for the collection,  touchstone & analysis of data. The proposed study is an exploratory cum descriptive.The purpose of preparing research design could be either to test a  system or to give a cause effect relationship to the given situation. The design provides answers for questions such as What techniques will be used to gather data?  What kind of sampling will use?  As in this case research is to be a  valued research. We are  dealings with 12,478,447 population of Mumbai and slicing it to different segments. The data that has to be  salt away should be from an  sure source as the research is based on  true(p) facts of the regi   on. Quantitative researchSystematic empirical investigation of quantitative properties and phenomena and their relationships. Asking a narrow question and collecting numerical data to analyze utilizing statistical methods. The quantitative research designs are experimental, correlation, and survey (or descriptive).  Statistics derived from quantitative research can be used to establish the  humans of associative or causal relationships between variables. SOURCES OF DATA The data that has to be   amass has to be authentic, so it should be collected from authentic source like  politics websites, this type of research require authentic quantitative data.Data collection from  autochthonic sources is not a option here. So data has to be collected from  subaltern sources. Secondary Data Information regarding the project, secondary winding data was also required. These data were collected from various past studies and other sources like magazines, newspapers, and websites which qualified a   s reliable. Limitations of the study  modified Access to Secondary data  need of time Conclusion Mumbai is a large consumer base, the youth population following in the age group of 18 to 25 years itself is diverse in their own ways, each of them have different wants , needs and desires.All of their wants and needs are not always satisfied. Markets are oversaturated with products at  declare to  achieve their needs some fulfill the needs some partially. Buying decision of the consumer in this age depends upon what he thinks about the product and the brand and the amount of  pic he has gone through for that brand. As we are saying the needs of the consumers may be partially filled, so  automatically there is a consumer base who wants something that will fulfill their needs in totality, this brings about a market opportunity for the companies which can be targeted by them, i. . slicing into that segment of Mumbai consumers. Many of the consumers are unaware of their needs as well, Exam   ple, Including the use of day at once  engine room in household activities etc, there are many untapped markets in Mumbai that has to be exploited by the companies, Consumers of this age group are attracted to new technology and feature, they want to stay ahead of their generation, these wants and desires should be tapped upon by the companies. Bibliography Parsis top literacy, sex-ratio charts in city. (2004, september 8). Times OF India . The worlds successful diasporas. (n. d. ). Retrieved from Managementtoday. co. uk. censusindia. gov. in. (n. d. ). rank of districts of Maharashtra by population size 2011. Retrieved from censusindia. gov. in. Forbes Magzine. (n. d. ). Mehta, S. (2004).  maximal City Bombay Lost and found. Philip Kotler. (2009). Marketing Manager- A South Asian Perspective. Dorling Kindersley. PopulationIndia. com, . . (2011, June 1). Populationindia. wordpress. com. Pradeep Kashyap. (2003-04). Selling to the backwoods. Business World , 88-91. Principal Cities.     judicature of Maharashtra.