Segmentation - Shedding Light on Your Market While Competitors Remain in the Dark
In a recent post, my colleague Bob Hull reported that many of his clients start talking about segmentation by emphasizing all the data on their customers they already have. Bob pointed out that such demographic and behavioral data can often answer "what" questions, what customers do and what they look like, but to understand "why" customers do what they do, and how apparently similar customers differ from one another, survey research to collect attitudinal and needs-based information is necessary.
In segmenting business markets, we have found another major advantage of including attitudinal and need-based information in segmentation studies. Very likely, a company's competitors have demographic and behavioral data similar to what the company has.
Tags: segmentation
