In the segmentation process, potential customers are divided into different groups (or segments), in which consumers have similar or similar requests. It is necessary to select the optimal market segment, less competitive, in which you have more advantages.
You can segment both existing customers in order to choose the development paths of the company, and consumers in a new market in order to create a product / brand for this segment.
The result of market segmentation is a report with a detailed description of each consumer segment.
Choosing a marketing strategy begins with market research. Its task is to determine the capacity of the market, main competitors, the segments in which they operate, consumer preferences.
There are several methods for studying the market: expert assessments, interviews, questionnaires, collection of open statistics, and others. The choice of research method depends on your goals and objectives.
Usually the study takes place in two stages:
- Preparatory, which includes the choice of methods, the development of questionnaires, coordination with the customer. The result of the study is a report. With it, you can draw conclusions about the attractiveness of the market, choose free segments, or refuse to enter this market.
- Field when data collection begins. Data is collected both online and in person through interviewers (depending on the tasks).
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