Segmentation and Market Planning |
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Market segmentation recognizes that most companies have limited
resources and therefore need to explicitly identify and deliver on
target-specific requirements.
Quantifying a customer segmentation
framework gives companies a clear understanding of the most attractive
market 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.
Key issues addressed:
- What is the overall segmentation framework for the category? On
what basis---attitudes, behaviors, or demographics---do customer
groups align?
- Which are the most attractive targets for the brand, in terms of
market size, profitability, brand-fit and long-term attractiveness?
- What drives purchase-and decision-making? What attributes and benefits are most important to the selected target customer?
- Should current offerings be realigned or new offerings introduced to better meet the needs of the target?
Approach and anticipated results:
A situation assessment is performed, including management interviews
and a review of prior research and plans. In-depth exploratory research
follows to identify the full set of perceptions, opinions, beliefs and
attitudes regarding the category. An in-depth questionnaire then is
developed and fielded to determine the optimal segmentation solution as
a key input to strategic decision-making. |
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