The leading market intelligence solution provider, Infiniti Research, stated the completion of its latest success story on market segmentation analysis for consumer Electronics Company. It clearly shows how infinite market segmentation analysis helped a consumer electronic company to create target advertising and marketing campaigns for different sections of customers.
At present, the global electronic industry is undergoing a rapid phase of change as leading brands are more focusing on developing personalized products and service offering for their customers and also businesses realized that making marketing and promotion more organized and targeted is becoming a prerequisite. Here is the relevance of market segmentation analysis is required. it helps businesses to enhance customer retention, establish brand identity, better customer relationships, and increase sales conversion. It is very helpful to understand the customer’s needs and demands and categorize customers with similar requirements together.
According to Infiniti’s integrated approach, the following are the required steps for basic segmentation marketing.
The first measure is customer assessment, which means analyze the evolving needs, demands of the target customers. The needs and specification of every customer are changing frequently and varies from person to person. Everybody wants a tailored product to meet once own requirements and expectations. Then conduct a customer satisfaction survey which is helpful to understand the satisfaction level of customers regarding the clients’ products and service offerings. Every customer has the right to assess and understand the product. This enables him to make sure that the product is finely tuned and delivers him or her what he dreamed of.
Then conduct a sales assessment, to evaluate the market potential for the new product in the next five years. To streamline the planning and production of any particular product a very minute market assessment is needed, the data so collected is the main factor that ultimately ends in the final product. Then at last customer segmentation analysis, to group customers with similar characteristics and needs together. In the end, customer segmentation is achieved by analyzing all the information collected and finally reaching products which qualify to meet the needs and expectation of different segments of the customers who are always on the search of customized products to satisfy their appetite.
