Customer Segmentation Analysis

Customer analysis Segmentation: segmentation means the identification of customer group’s responds differently from other groups to competitive offering. It must have following features: feasibility, sustainability, and profitability. Generally speaking, we often use five criteria to segment the market. The segmentation can be defined by several methods; the first one is by demographic characteristics. It is effective partly because person’s life stage affects his or her activities, interests and brand loyalties.
The second one is the benefits, because the selection of benefits can determine a total business strategy. The third one is price sensitivity, and it represents the trade-off between low price and high quality. The next important criterion is loyalty. Each cell of the brand loyalty matrix (organized by loyalty level and customer type) represents very different strategic priority and can justify a very different program. The last one is applications, as some products and services, particularly industrial products, can best be segmented by use or applications.
In the end, we also have to pay attention that two distinct segmentation strategies are possible. Customer motivations: After identifying customer segments, the next step is to consider their motivations: what lies behind their purchase decisions. There are four steps to determine the customer’s motivations. The first step is to determining motivations. Although a group of managers can identify motivations, a more valid list is usually obtained by getting customers to discuss the product or service in a systematic way.

The next step is to cluster the hundreds of motivation to groups and subgroups. Another task of customer motivation analysis is to determine the relative importance of the motivations. A fourth task is to identify the motivation that will play a role in defining the value proposition of the business. Also, there are three other important points that we have to pay attention to in understanding the customers’ need. Qualitative research, including the focus group, in-depth interviews, and customer case study, is a powerful tool in understanding customer motivation.
It is particularly critical to gain insight into changes in customer’s priorities. Also, all the research should treat the customer as the active partner. Unmet needs: An unmet need is a customer need that is not being met by the existing product offerings. Unmet need s strategically important because they represent opportunities for firms to increase their market share, break into a market, or create and own new markets. There are two important points that we need to catch them.
Firstly, use customer to identify unmet need. They are the prime source and marketer should get access to them and detect the unmet need from them. Secondly, ethnographic or anthropological research involves directly observing customer in as many as context as possible. By accurately observing not only what is done involving the target or service but why it is being done, companies can achieve a deeper level of understanding of customer’s needs and motivation and generate actionable insights.

myhomeworkgeeks (28431)
New York University
DO YOU HAVE A SIMILAR ASSIGNMENT?!

Click Here to Hire an Expert

Hire Verified Expert

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Have a homework question? Get help from verified tutors now!
error: Content is protected !!

Are You Looking For Assignment Help? We Can Certainly Assist You