Segmenting your markets and customers by identifying sub groups with similar needs, demographics, lifestyle habits, and buying behaviors will enhance the opportunity for your company to increase sales and profits. Since individuals may have different needs and wants, different products, services and marketing campaigns need to effectively address the disparate needs and opportunities present in the marketplace.
Our key goals in a segmentation study are to clearly identify the groups; to learn as much useful information about the groups as possible; to determine what differentiates them and how to reach them most effectively. Additionally, this type of research can help you understand the various market segments in terms of size and market potential. All market segmentation studies involve more than one statistical method (i.e. Factor analysis, proximity scaling, K-means clustering, spectral clustering, or latent class analysis). Our segmentation analysis will provide more insight and better characterization of the consumer segments most likely to take action to use your product or service. It will also allow you to optimize advertising and marketing platforms to more precisely target consumer segments and direct a company’s efforts towards the most productive and profitable segments.
