Market Segmentation

Market segmentation is the identifiable groups of potential customers with similar needs or characteristics who are likely to exhibit similar purchase behaviour.

Market segmentation is the corner-stone of customer-oriented planning, leading to sustainable competitive advantage, successful marketing implementation and control.

The major benefits of market segmentation analysis is superior marketing strategy:

• Selection of the optimal product portfolio to meet the needs of the marketplace.
• Development of superior, cost-efficient advertising & promotion.
• Improving long-term market position - image, customer satisfaction, competitive advantage and cost-effectiveness.
• Better corporate planning and development of marketing strategies

Market segmentation is a four-step process::

1. Segment Identification - Identification and assessment of heterogeneous groups

2. Segment Selection - Choosing attractive segments that are appropriate for the organisation to pursue.

3. Segment Targeting - Allocating marketing resources to fulfil the needs and wants of the prime target audience/s you have selected .

4. Positioning - Using your insight and understanding to manage the elements of the marketing mix so as to optimally meet the needs and wants of that segment.

Market Segmentation - Understand the consumer so you can provide the best choice they can make

Launch Engineering identifies meaningful and usable market segments using insight and extensive experience COMBINED with advanced academic knowledge: You enjoy a synergy of empirically supported, informed strategy.

If you are less than100% satisfied with your marketing results, ask for a Launch Engineering segmentation study now.

The Background and Importance of Segmentation

Segmentation is regarded by many to be the single most important business strategy to have in place as it drives many sales, marketing and system processes. Segmentation aims to group customers into discrete homogenous groups based on identifiable factors

Segmentation aims to provide a framework to assist in :

Tailoring our value proposition to each segment

Viewing customers based on business drivers – theirs and ours

Discuss and agree priority segments

Identify higher value and higher opportunity segments

Allocate resources based on agreed priorities

Develop sales approaches, targets and KPI’s

Develop messages to these segments

Adjust value propositions per segment – as necessary

A segmentation study is one of the most potent pieces of market research that can be commissioned... don't risk putting yours in the hands of anyone but the best.

It identifies who buys your products, how they buy, why they buy, and what effects their decisions.

You discover which competitors to be wary of, who cannibalises your sales, an dhow you can protect and enhance your brand longevity and growth.

Segmentation helps in everything from new product development to pricing decisions to trade partner negotiations

Because we know the science, are exposed to world-wide findings, can isolate the relevant and pertinent issues, we do a more sophisticated job.

Perfect Information leads to perfect decisions” means you need experts at information interpretation

Launch Engineering’s consultants know the value of better market research, better analysis, and better understanding of buyer behaviour.. Launch Engineering marketing information management regularly helps clients make winning decisions: We execute market research and data mining that saves clients from wasting marketing money, generate more profits and win more market share.

© Launch Engineering Pty Ltd © 2008  Tel: +61 2 9904 5355  Fax: +61 9904 5366   Email: launch@launchengineering.com Located at: Level 6, 97 Pacific Highway, North Sydney   Mail to: PO Box 7, Cremorne Junction NSW 2090 AUSTRALIA