Market Identification and Segmentation

Finding and targeting profitable new markets and customers

Markets which look homogeneous from a distance can look very different close up.  Some market segments will be much more important and attractive to your business than others – perhaps because these customers are more likely to buy your products, or maintain long-term relationships with you, or behave in ways which make them cheaper to serve.

There are all sorts of dimensions that can be used to define market segments.  Common ones include by customer, by product and by geography, but there may be more subtle and insightful alternatives, perhaps by different stages in the value chain, customer behaviour or business model.

Many businesses could improve their returns by targeting more narrowly within their chosen markets. This allows them to focus on segments which are more profitable to serve, tailor their offering more closely to meet customer needs, and focus on things that they do better than competitors.

How detailed is your market view, and how accurately do you target your most attractive customers?  Can you or should you change your offering or distribution strategies to make other segments more attractive?  Are there new markets you would be well placed to enter?

We can bring data-driven methodologies to bear to identify potential new markets and the most effective market segmentations for your business, quantify the benefits of targeting the most attractive customers, and work with you to develop and implement focused marketing propositions.

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find out more about Market Identification and Segmentation:  Click to request a call.

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