Get the insight knowledge of your market by a MEGAFON segmentation
Market segmentation is in general easy. Everyone is able to work with segmentation based on variables like gender, age, etc. The challenge is to make a relevant segmentation that creates competitive advantages.
The competitive advantage is gained when we are able to identify customer groups that are defined by their common attitudes and behavior towards a certain product or brand. Thus we can adjust the communication and the product to this exact customer group.
In a time when seniors want to be youngsters, youngsters want to be different, and townspeople move to the country, the value of traditional demographic segmentation is diminished, and we need to think of segmentation in new ways.
MEGAFON is very experienced and skilled in the field of segmentation. We take you all the way; from the preliminary hypotheses to the final segmentation. Our analyses typically draw on both qualitative and quantitative methods, but can of course be adjusted to your needs and means.
1. The qualitative step
In this phase our analysis approach is open and explorative. By focus groups or/and in-depth-interviews we generate hypotheses on correlations with no prejudices in mind.
On this level we find the most important parameters and criteria for the segmentation, which leads to a characterization of your customers and potential customers: Who are they, how do they differ on interests, habits, behavior, values, opinions, and demographic and social backgrounds? And how will it all affect in relation to your product or brand?
By choosing the qualitative method you will be able to define the most relevant segments - not only the standards like male/female, modern/traditional etc. The qualitative level is important to ensure that no relevant factors are missed. The qualitative results could show that your target group is divided by different barriers towards the use of your product, which may be caused by factors you were not familiar with before â€” for example within their relations to other brand categories.
2. The quantitative step
Next step is to bring statistical documentation to the correlations we have lined out in the qualitative phase. In other words: We test whether the hypotheses are right or wrong. This quantification will typically be in the form of web (CAWI) or telephone interviews (CATI).
When the surveys are completed, we will look for correlations between the findings. We will see if and to which extent the qualitatively defined profiles and segments are represented in the real world. Are the qualitatively composed segments correct and what characterizes them more precisely?
You will finally be well prepared to adjust and improve your product/brand and the marketing of it.