Posts

Showing posts from February, 2024

Marketing and sales strategies for products targeting different income group

Marketing and sales strategies for products targeting each income group in Indian metro cities: 1. **Low-Income Group:** - Affordable Pricing: Offer products at competitive prices, focusing on affordability and value for money. - Promotions and Discounts: Implement regular promotional campaigns, discounts, and bundle offers to attract price-sensitive consumers. - Localized Marketing: Engage in localized marketing efforts through community events, street promotions, and partnerships with local businesses. - Simple and Clear Messaging: Communicate product benefits in a straightforward and clear manner, emphasizing how they meet basic needs at an affordable cost. - Distribution Channels: Utilize distribution channels that are accessible and convenient for low-income consumers, including small local stores, street vendors, and online platforms with cash-on-delivery options. 2. **Middle-Income Group:** - Quality and Value Proposition: Emphasize product quality, reliability, and value for mo...

Consumer behavior as per income group - select your target customer segment

1. Low-Income Group:    - Budget Consciousness: Consumers in this group tend to prioritize basic necessities such as food, clothing, and shelter over discretionary spending.        - Preference for Value: They often seek affordable options and discounts while making purchase decisions.        - Focus on Essentials: Spending is predominantly on essential items like groceries, household goods, and low-cost clothing.        - Limited Brand Loyalty: Loyalty to specific brands is less common unless they offer consistent quality at affordable prices.        - Savings-oriented: Saving for emergencies or future expenses is a priority, with limited investment in non-essential items. 2. Middle-Income Group:    - Balanced Spending: Consumers in this group have a relatively balanced approach to spending, allocating funds for both necessities and discretionary items.        - Brand...