Segment Locator
Segment Locator is based on an unbiased holistic approach to identify the true segments in any market or environment. Our methodology helps brands pinpoint market segments, understand their unique profiles, and assess their value using advanced analytics in the Segment Locator model.
Analytical Tenets with a Substance
Segment Locator is a state-of-the art tool for understanding both quantitative and qualitative segmentation dimensions. The methodology:
- Identifies the number of segments and relevant sub-segments within the segment
- Measures the size and value for each segment
- Identifies ‘Who’, ‘how’ and ‘where’ to target in terms of advertising, marketing and promotional activity, communication platforms and type of product offerings
- Provides an in-depth understanding of sub-segments within segment in terms both of their demographic and other parameters such as profitable/less profitable segments, life-style, media characteristics and psycho-graphic issues
Unbiased analytics
Segment Locator is based on a fully structured questionnaire design approach that aims to collect all relevant segmentation variables (and relevant “Segmentors”) that are subsequently used in the analytics phase, utilizing advanced analytical tools such as:
- Factor Analysis – A data reduction technique applied when using long lists of categorical variables such as psychographic variables, behavioural variables, etc. Factor Analysis reduces the number of variables to a more meaningful and manageable set of variables that are used in the segmentation analysis.
- Cluster Analysis – An unbiased advanced analytics technique used to identify potential segments in the data set by identifying and grouping homogeneous respondents together. This is an iterative exercise and the results are carefully scrutinized for their actionability value. The number of clusters produced can also be reduced or increased depending on their relative size and profile.
Segment Prioritization
Segment Locator prioritizes segments & sub-segments to focus on in marketing activity thus providing a framework wherein consumer strategy can be optimized:
- Greatest uptake and revenue potential
- Critical communication characteristics
- Key consumer needs characteristics
Segment Deep Dive
Drilling into the segments & sub-segments, Segment Locator sheds light on their fine defining aspects in terms of their:
- Media habits
- Consumer needs and driver characteristics
- Usage, attitudes and purchase habits
- Inclination and potential to continue using and increase usage vs churning