Everything in an organization needs to start with the consumer and ends with them. The product development, product marketing, sales, revenue, profitability, product improvement and introduction of new products.
And no less, by the above argument, the importance of segementation scheme for the purposes of . A good segmentation scheme is one
– which can capture the consumer activities and their dynamics
– which can unravel insights about competitive products
– which can capture competitive companies marketing activities and insights associated with them
– which can provide insights on market related activities of consumer; for example including one of the most important activity – media usage and media influences on consumers
– which can help identify pockets of consumers who are least elastic to pricing and most elastic to pricing
– create and strengthen insights on loyalty at the same time also provide intelligence on most desirable acquisition pockets
So suddently it looks like we have a mechanism with which we can solve all marketing problems.
Yes. The trick though is it is all about the data. With right data that can flow through this segmentation scheme, we can all the wonderful things we mentioned above.
The data is the
From Data Monster & Insight Monster