Market Segmentation and Targeting
From experience, we know that segmentations can fail for a number of reasons, chiefly:
- a lack of common understanding among all stakeholders
- the segments are not discriminating enough
- marketers have difficulty in finding and targeting the particular segments identified.
A good segmentation is an iterative process. We believe that the solution needs to be optimal not only from a statistical point of view, but that it also makes good sense from a marketing angle. Our consultative approach and suite of tools combine to achieve this successfully for you.
Our suite of creative analytical and presentation tools will not only help you to fully understand what the segments are, and what their needs are, but also to devise specific marketing actions that should be taken for each segment.
Our needs map approach and segment footprints will help you to understand the particular needs of each segment and how they differ from other segments. It also helps to align particular segments with a particular brand or product in the portfolio; by assessing segment and brand footprint overlaps. We can also identify an ‘empty’ space, where a new brand or product can be developed.
All these outputs are delivered in a user-friendly format, which is easy to understand by marketers and other stakeholders across the business.