Segmentation Studies: companies that can identify specific segments who prefer their product or brand gain a unique advantage.
- Identify, profile and describe key customer segments
- Large sample to allow multivariate analysis by segment
- Typically mail or self-administered data collection
- Cluster analysis to isolate segments, define differences
- Conjoint or other forced choice provides crispers segments
- Behavior or benefit preferences are most actionable
- Use to develop products/services to match segment needs
- Examine impact on customer loyalty, other key traits
- Model to size of segments, demand opportunity