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The Secrets to Market Segmentation
Market segmentation is perhaps the most confused subject in the world of marketing. Much segmentation research is a waste of money, because no one knows what to do with the results. Yet, if properly applied, market segmentation is one of the most powerful concepts in marketing and can lead to winning marketing strategies.
Workshops conducted with executives and other stakeholders before the segmentation can greatly improve the design and relevance of the segmentation study itself; and workshops with executives and stakeholders after the segmentation can help create buy-in among the executives and stimulate better and more complete application of the results. Bridging models can connect the segmentation plan to your customer database and/or project the results to Census Block Groups.
Below are Decision Analyst Resources on making your market segmentation studies successful. Contact
Elizabeth Horn, or Bonnie Janzen, or Felicia Rogers for more information.
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The Bridging Model:
Connecting A Segmentation To Customer Databases
By Elizabeth Horn, Ph.D.
Segmentation is a very powerful tool. When possible, leverage that power by applying the segmentation to your company’s customer database(s). Organizations that successfully classify their customers into segments increase the likelihood that their brand communications and new products will meet the needs of those customers. This makes the time, effort, and investment to build the “bridge” worthwhile.
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“Segmentation Studies Never Pay Off”— Overcoming The Myth
By Felicia Rogers
In the business world, we’ve all heard it: “We did a segmentation, and no one bought into the results.”
It’s important to remember that the research and report are just the beginning of the journey. We have found that it’s often vitally important to flank a segmentation initiative with in-person work sessions involving key members of the client organization’s team.
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Market Segmentation Video Series
Decision Analyst has created a series of 14 short informative videos on segmentation. Our experts outlay the basics a successful market segmentation project from the initial planning phase to applying the results to your business. The videos last 3-7 minutes each and are an overview of how to conduct a successful segmentation.
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