Quantitative market segmentation refers identifying groups of people/customers with similar qualities, product behavior, demographics, and attitudes. While segmentation helps get to those who would possibly benefit or be interested in a product/service, it is also a helpful analysis to identify the less viable prospects. Segmentation research helps explore target audiences based upon in-depth information that go beyond demographic characteristics. It is a study of individual responses to questions that hint upon behavioral, attitudinal, psychographic and other brand related identifiers. Experts recommend that a foolproof segmentation solution should be actionable, relevant and address targeted business strategies.
Market segmentation starts with more effective, meaningful and personalized marketing. Unlike several analytics, our approach believes that people/customers are connected beyond the suggestive psychographics and demographics. It is the more individual experiences like feelings, thoughts, perceptions, satisfaction and exposure that help connect customers with brands and customers with other buyers. Most times however, segmentation studies are based upon small scale quantitative questionnaires that aren’t properly based on the market as a whole. Several crucial nuances might have been missed in the process and this goes on to affect the quality and legacy of the study.
We have an award winning approach to computer linguistics that identifies clusters/segments in large scale qualitative. We would help you identify groups in the same way as people would make conversations – based upon feelings about specific products and brands, product categories, their personal experiences, etc. our strategic research has helped our designers work out a discussion that allows several market segments to unfold themselves automatically. At this point, our proprietary language processing software complimented by trained language analysts categorize the audience into identifiable groups within the same dataset. This would further lead to a typing tool that supports the next step in strategies and market study. This second phase of the segmentation is more about market sizing and additional profiling than identifying groups (which in any case is complete in the first phase).
Our market segmentation follows two well designed steps:
- Qualitative Exploratory: This is the first phase where our tools and framework would identify groups of people from the complete population based on their needs, demands, wants, perceptions, uses, etc.
- Quantitative Segmentation: This is the second phase where we would be imposing additional metrics and a higher scale to validities and expand upon the results of the qualitative segmentation.
Our approach to market segmentation has been acclaimed as a unique process by several brands, manufacturers and service providers. With our tools, you can arrive at focus groups that would help put forth your marketing strategies more successfully.
This is the age of information. Whether you are involved in making a product or selling it, the only factor that guides the process would be information – information that comes as feedbacks, acceptance rates, the target audience, their demands, needs and expectations. Our in-depth analysis ensures that you are always a step ahead against competitors and come up with a product/marketing campaign that the audience has been waiting for.