It is common wisdom that successful brands know their customers - who they are, how they live, which movies they like, and how they spend their weekends. Our segmentation solution helps an organization do the same. It is the process of identifying discrete entities (groups of consumers) and understanding how different sets of criteria motivate them. It not only helps unearth current consumer segments, but goes beyond to give you a glimpse into the future.
- To identify how to target different consumer types
- To help better understand the competition and its positioning
- To identify white spaces and decide upon the right offer
- To build a better communication strategy that will have improved reach, as far as the target is concerned. Segmentation, therefore, helps to find the right fit for existing offers and need ideation - both expressed and latent.
- A soft drink manufacturer has been operating in the category for a long time. However, the company’s market share has been declining. They wish to understand how the category is currently evolving. Where can the company reposition its brands in order to regain market share? Are health drinks a possible venture? What is the future potential of health drinks in this category?
- An e-commerce apparel company wishes to take another look at its offerings and reposition itself accordingly. It wants to understand the consumer needs associated with online purchase and the incorporation of these needs in its line extension strategy in order to build a stronger position.
- A biscuit maker firm has been struggling to make its mark in the market. It wishes to understand how the consumers of this category can be targeted and how its competitors are faring on the category needs.
- A mobile phone manufacturer is choosing its innovation pipeline and is considering the implementation of new product concepts. It wishes to understand the current evolution of the product category and the ideas that would be ideal investments. Which needs of the consumers will these innovations satisfy and thus, how big is this opportunity?
- A shampoo manufacturer has a large number of brands in its portfolio. This has made brand management very difficult and hence, the a need has arisen to justify retaining certain brands in the current portfolio. These brands were launched as a reaction to competitor actions without focussing on clear brand positioning. The business now wants to ensure the creation of a clean and focussed brand portfolio.
Segmentation is a one stop solution to all the above business situations. It uses techniques like Maxdiff, Latent Class analysis, finite mixture modelling and segment analysis to provide a holistic understanding of different category needs, consumer typologies and the most appropriate manner to deal with the same.