Market segmentation flows from the perspective that not all customers are alike — and individual customer groups will seek out different products and brands for different reasons. Our marketing consultants have deep expertise in applying market research to develop customer frameworks as the platform for marketing strategy development.
Quantifying a customer segmentation framework gives companies a clear understanding of the most attractive segments, including their size, profitability, and growth potential. From this, resources can be better aligned to meet customer needs, both today and in the future.
Segmentation issues addressed:
- What are the the underlying motivational differences or factors across customer segments? How might these factors align with potential, hypothesized targets?
- What is the overall segmentation framework for the category? On what basis – attitudes, behaviors, or demographics – do customer groups align?
- What is the optimal segmentation solution? What are the implications for target selection?
Segmentation consulting approach and anticipated results:
Drawing on the market assessment, our marketing consultants then conduct exploratory research to help identify customer perceptions, opinions, beliefs and attitudes regarding the category and available offerings. An in-depth market research questionnaire is developed and fielded, with statistical analysis used to determine the optimal segmentation solution as a key input to strategic decision making.
Target selection then takes place to further increase the chances of meeting customer needs.