Market Segmentation Research

Recognising customers’ differences is the key to successful marketing. It is crucial for offering products and services to meet customer needs, or identifying new markets. Both consumer market segmentation and business market segmentation allows the maketeer to identify specific groups or niches of customers with common interests or needs. Shaping new products, identifying resonant messages, or understanding unqiue needs within those groups underpins market segmentation strategy.

Traditionally, marketeers in industrial (or business to business markets) have tended to define customers or markets through simple categorical descriptions, such as product, industry or geographical location. But this approach offers little in terms of recognising the diverse requirements or motivations of customers even within common product or industry sectors.  

"We gave Redshift an interesting but challenging brief - help us to understand the rapidly evolving tech support market and identify the core target audience for our start-up business.  We quickly settled in to a good way of working - moving fast, working collaboratively, focused on quality and actionable outputs.  They were flexible and client focused in their approach.  Before long, we had accumulated a rich library of consumer data and created a simple but effective segmentation.  We are now executing against this and are building real momentum as a result."

(Tim Dowling, Virgin Digital Help) Read more testimonials

Needs based segmentation analysis

This approach is often referred to as 'Needs-based' segmentation.

By identifying and understanding the requirements of different groups of customers with similar needs, the marketeer can engage them with a series of differentiated ‘markets’, with different messages, product and service offerings designed to meet their needs.  

Market Segmentation Strategy

More on market segmentation strategy and the tools for conducting market segmentation research.

Business and Consumer Market Segmentation Research Services from Redshift Research