Each organization needs to assess its current capabilities to develop relevant customer segmentation and to translate this analysis into differentiated customer experiences.
Relevant Consumer Segmentation insight:
- What drives your existing customers in terms of attitudes, needs and behaviors?
- How are you integrating the behavior changes due to specific economic circumstances?
- How well do you know prospective customers outside your current customer base?
- What segmentation and insight dimensions should you consider when attempting to enter new markets?
- How can you leverage complementary insight sources ( for example, from third parties ) to enrich your existing segmentation?
This helps understanding your current market segment and the one that has got potential to be explored. Its important you keep an eye on your current customer segment and tap your can be i.e. could be customer base which is profitable for your business.
Market segmentation process
Targeting – Identifying potential market segment
Establishing base for market segmentation