Market research

Experience in market research

Research types and methodology

Analysis of company's position

Analysis of demand

Analysis of supply

Consumer analysis

Segmentation

Positioning

Product characteristics study

Evaluation of ad efficiency

Complex market analysis

Special studies

Technical resources

Receivables format

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Segmentation

Segmentation means singling out target groups with the same characteristics and probability of buying the product. Four segmentation types are used: geographic, demographic (or social-economic), psychographic and according to product advantages – attributes which consumers prefer (behavioral segmentation). Age, gender and level of income are most often used characteristics in singling out target groups. However, apart from traditional demographic characteristics such as age, gender, occupation and education, demographic segmentation may be based on their specific combinations. For example, stage of the family lifecycle.

In this criteria system, personal status gives a more exact account of the consumer profile than marital status and allows us to predict a new product’s acceptance with more probability.

For approximate singling out target groups, the easiest way is to analyze official statistical data. However, due to the lack of detailed, regularly updated data about the population, the most effective means of market segmentation is interviewing a large number of random (representative) respondents. Such survey allows us to single out groups of potential consumers not only according to their social and demographic characteristics but also by using more sensible factors – way of life, system of values, determine probability of purchasing the product, volume of estimated expenditures, requirements to product/service attributes, media preferences for each of the categories.

Panel diary research provides rich information for segmentation. Unlike special public polls, it gives more reliable information and a broader description of the general structure of respondents’ expenditures, does not require additional time to collect the data; however, it does not give answers to questions specific for this particular product.

A striking example of a combination of the psychographic and behavioral types of segmentation is the VALS 2 ("values, attitudes, lifestyles") scheme, which divides all consumers into 8 categories and presents a detailed description of each of them.