Alternate Ways to Create Market Segment

 segmentation  Comments Off on Alternate Ways to Create Market Segment
Feb 012016
 
Alternate Ways to Create Market Segment

How can I create market segments? There are multiple approaches to creating market segments, from simple “guesswork” to more scientific data-driven techniques. On this website you will find an article that addresses the two main market segmentation tools – namely segmentation trees and cluster analysis. But the purpose of this article is to explore the […]

Using Cluster Analysis for Market Segmentation

 data, segmentation  Comments Off on Using Cluster Analysis for Market Segmentation
Jan 302016
 
Using Cluster Analysis for Market Segmentation

Introducing cluster analysis There are multiple ways to segment a market, but one of the more precise and statistically valid approaches is to use a technique called cluster analysis. Cluster analysis is a tool that is used in lots of disciplines – not just marketing – basically anywhere there is lots of data to condense […]

Bring Your Own Persona

 example, segmentation  Comments Off on Bring Your Own Persona
Jun 232015
 

Knoweldge@Wharton originally defined the term BYOP as “identifying new segments by their digital engagement.” According to Wharton, this persona is based on: digital capability and trust. Using the Wharton definition, ‘digital capability’ is a consumers’ ability to maximise their usage of the latest technologies such as mobile apps, wearables, social interaction tools, video chat, mobile […]

Segmentation Critical to Data Analytics on Banking Consumers

 segmentation  Comments Off on Segmentation Critical to Data Analytics on Banking Consumers
Jun 172015
 

Age and income aren’t the only ways to break down financial consumers. This study’s segmentation model reveals some interesting differences in how people think about banking and relate to their primary financial provider.Saylent commissioned a study through Informa Research Services to assess consumer and small business banking preferences and the depth of relationships they have […]

An Example of the Segmentation, Targeting and Positioning Process

 example, positioning, segmentation, targeting  Comments Off on An Example of the Segmentation, Targeting and Positioning Process
Feb 112015
 

A good example of the STP process (segmentation, targeting, positioning) can be found during the Cola Wars in the 1980s between Coca-Cola and Pepsi-Cola. As you may be aware, Coca-Cola eventually took the dramatic act of reformulating their flagship Coca-Cola product and withdrawing it from the market to replace it with “new” Coke. Please review […]