Market Segmentation: Many Strategic and Tactical Uses
- Examining the underlying structure of a market to identify unoccupied niches
- Optimize offers for services or products
- Maximize market share, maximize revenue or profit
- Identify a group of core followers or ultra-loyal customers
- Formulate digital engagement strategies
- Maximize market coverage in a competitive space
- Increase the level of focus of a market or messaging strategy for greater impact
- Uncover under-served populations, most profitable markets, core loyal audiences, non-responders
- Prioritize efforts in outreach and public education campaigns
- Optimize marketing mix
- Identify core groups and develop customer profiles and personas
Segmentation Services at EurekaFacts
At EurekaFacts, we have expertise in conducting segmentation analysis and interpreting results from a strategic and a tactical perspective. We follow a consultative approach to learn about your business objectives and recommend the segmentation approaches, methods, and techniques best suited to deliver maximum value. We examine viable segmentation schemas, evaluate them, and present options. Within each segmentation approach, we identify the segments, prioritize them, and make recommendations for targeting and positioning, as well as for appropriate tactical uses that maximize value. Once target segments are identified, we develop robust segment characterizations (personas / customer profiles) that describe the demographics, attitudes, preferences, drivers, and behavior of each segment. Furthermore, we develop guidelines and assist in the implementation of personalized marketing and ongoing use in digital communications and other interactions.
Our capabilities include strong understanding of business and marketing sciences, microeconomic theory, and a team of experts in advanced analytics, survey methodology, geo-demographics, database integration, and data collection.
