Market Research Agency
Market Research Agency
Before developing a product’s marketing-mix, it is essential to decide which market segment it is aimed at. For this we carry out what is called a market segmentation study.
Segmentation involves dividing the market into several groups called segments.
These segments should be homogenous but as different as possible from each other in order to facilitate successful marketing operations aimed at the different groups.
Market segmentation study objectives
The main objective of a market segmentation study is to define the consumer segments – based on their attitudes, their purchasing behaviour and their profile – that best match what you are selling (good or service).
Besides this basic objective, this kind of study also enables us to determine the penetration rates of rival products and to identify general purchasing motivation.
The statistical method
Classification is a statistical technique enabling us to split a set of individuals (a market) into distinct homogenous groups. The homogenous nature of the groups is achieved thanks to strategic variables at the heart of the analysis, such as a certain behaviour, an attitude or an intention.
This technique allows us to minimise the differences between a group’s individuals whilst maximising the differences between groups.
