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Market segmentation has become a popular topic in marketing, marketing research and strategic planning. Market segmentation allows product manufacturers and providers of services to identify unique segments in the market so that they can tailor product features, services, distribution, pricing, and marketing communication messages to each. Further, segmentation research allows sellers of products and services to quantify the size and potential economic/volumetric opportunities of the segments, describe the composition of each segment, and evaluate alternative segment-level marketing strategies.
Market segmentation research stems from the premise that not all customers are created equally. Traditionally, markets have been divided a priori by demographic characteristics such as gender and age. However, using more advanced techniques, market defined segments can be identified based on buyer's reasons for purchase (attitudinal segmentation), decision criteria (benefit segmentation), or desirability as a customer (customer value or profit based segmentation). These approaches are more likely to identify unique segments of the markets with similar patterns of behavior.
For more information on MarketVision's capabilities in Segmentation Research, including our multi-dimensional segmentation approach, please email:
info@mv-research.com
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