HABIT IS AT THE CORE OF MANY PURCHASES. It takes years for companies to develop buying habits in people. Buying habits are developed by the most successful campaigns. Companies spend a lot of time, energy and effort in etching their image in the minds of people and building loyalty among consumers. Consumers do not easily prefer change of brands.

But some factors bring about a HABITUAL CHANGE in customers, i.e., they lead to consumers changing their brand loyalty. This change does not happen in a few days or a few months. It takes years for companies to push out a particular product from the consumers’ basket and place its products in the basket of the consumer. This change takes place across generations.

From normal soda water sold on cartwheel to Coca Cola, from soaps to hand wash, from hard cash payment system to online systems – these are all classic examples of habitual change which have been brought about over decades.

The change is a gradual process which requires companies to position themselves strongly in the minds of the consumers because consumers will switch from one brand to another permanently only when they are satisfied and they bring about a promising change and value addition into the lives of people.

Thus, it is not easy for companies to change the buying habits of people as consumers prefer only believe on tried and tested products which have given them satisfaction. But the current generation is ready to try out new products and thus habitual change is no more a rare phenomenon.

Segmentation is a strategy business method of dividing a product in its line based on various factors like demography, age, sex, culture, life style, interests, etc., one product can be viewed in a different perspective by different consumers. Hence, a product is customized based on the consumer requirement, need, interest, etc., this is called as segmentation. The total population of customers is obviously large and varied.  It contains people from all sectors and belonging to different income groups. Each of these different groups of customers’  require a unique and different approach. The basis for this approach is developed with market segmentation analysis.

Analysis of this segmentation depends upon market and business in some aspects. There are different types of segmentations such as:

1. Psychographic                                      

                                                  

2. Behavioral

3. Geographic and so on

Market segmentation also gives the customers a clear view of what to buy and what not to buy. Market segmentation helps the organizations to target the right product to the right customers at the right time. Segmentation helps the organizations to know and understand their customers better. Organizations can now reach a wider audience and promote their products more effectively.

For example, Nivea has wide range of products in its same length. It has many perfumes and deodorants based on gender i.e., male and female, age groups i.e., youth, aged, etc., Hence, in the same way there are so many products in the same product line for different consumers.

Maruti Suzuki has adopted a focused approach and wisely created segments within a large market to promote their cars.

Lower Income Group – Alto k10

Middle Income Group - Wagon R, Swift, Swift Dzire, Ritz

High Income Group – Ciaz, Ertiga

Thus, segmentation helps companies to identify right consumers who will purchase their products so that they can use all their resources towards their specified segment.

The marketing strategies of companies have changed overtime. Now companies do not push their products in the market. Instead they develop products focusing on consumer needs. This is the need of the hour. Consumer preferences are dynamic and companies have to consider these preferences while reaching out to consumers.

                                             

There are so many examples of companies focusing on customer needs. McDonald changed its beef burger to potato and chicken burger when it entered in India. Nowhere else had it done so. But it was necessary to take such step or else it would fail in India.

 Customer focus is an essential ingredient of success for companies today. Products need to be developed and modified as per consumer needs and requirements or else failure is sure to come. There have been many examples of companies failing badly due to lack of customer focus.  Eastman Kodak, Nokia, Sony, Yahoo are all examples of companies which were  a leader in their particular field at a particular time but lost the battle to competitors due to lack of customer focus. They did not innovate their revolutionary products according to the requirement of time and consumers.

                               

Customer is the king. All the products and services have to be delivered keeping his needs at the centre. This will create a positive image in the mind of the consumer and make him try out the products. This is the only way the company can get close to the consumers and understand their psychology. This will help differentiate a company from its competitors.

So it is extremely essential for companies to focus on consumers to create a different mark in the consumers’ mind and maintain their loyalty and trust. Else they are sure to fail.