MMR Strategy Group conducts surveys and provides analysis to define and describe the customer segments in a particular market, industry, or category.
Market segmentation is all about focus. To attract and retain customers, companies must identify and understand their target customer and focus their positioning and their offering to deliver something unique and relevant to those target segments.
MMR Strategy Group’s market segmentation studies typically use a Choice-Based Segmentation (CBS) method. CBS focuses on the choices that customers make about which products and services to purchase, and the choices that companies make in how to serve customers and prospects.
Our market segmentation studies consider a wide range of variables, including demographics, behaviors, and attitudes. We survey customers and conduct analysis using a combination of experienced judgment and statistical methods such as conjoint-based choice (CBC) analysis, factor analysis, cluster analysis, and multivariate regression.
MMR Strategy Group’s market segmentation studies help clients answer crucial questions, such as:
- Customers and Segments: Which customer segments offer the greatest profit potential?
- Buying Behavior: Where do customers in target market segments shop and buy? What are their core needs?
- Positioning and Communication: What promise or value proposition should we seek to deliver for consumers in our key market segments?
- Brand Image: What is our current brand image among consumers in key market segments? How can we build and leverage brand equity?
- Competition: Who are the key competitors in each market segment? Where and how should we compete?
- Resource Allocation: How do we invest resources in each market segment to deliver on the positioning and generate growth?
- Sales: What is the most compelling and persuasive value proposition for each target market segment?
Click here to learn more about our Choice-Based Methodology for Market Segmentation.
Contact us to find out how MMR Strategy Group can help you grow your business through customer segmentation and targeting.