Market segmentation and sizing

We often recommend market segmentations over customer segmentations (including customers/service users AND prospects). This provides a more realistic view of the current market position (volumes and values). It provides an understanding of acquisition potential and is more readily future-proofed. Sometimes described as the “art” of statistics, most of our segmentations are based on survey data – larger sample sizes to deliver robustness between segments, and longer surveys to provide a breadth of data with which to profile the segments. Statistical analysis is used to derive the segments based on the factors that statistically pull them apart. Many studies also include an element of qualitative research – to help inform survey design or to provide extra color to the segments once derived.

Product research-Market segmentation