Segmentation, the identification of different consumer groups in the market, is a powerful tool for designing products and services that meet consumers’ needs and is ideal for identifying target audience characteristics beyond basic demographics and category behaviors.
W5 views segmentation as the study of consumers’ responses to specific attitudinal, behavioral, psychographic, and category- and brand-related questions. During analysis, consumers with similar attitudes and thought processes are bundled together to create an audience segment.
Segmentation is beneficial to company’s seeking a reliable understanding of their consumers based on stable, real-world criteria. W5 leverages a mix of applied approaches to ensure resulting segments are actionable and capable of informing product and service refinement, brand positioning, and communications strategies related to specific consumer groups.
W5’s approach to custom, strategic segmentation research will:
- Determine what consumer segments exist and reveal the relative size of each segment
- Evaluate the potential economic value of each segment
- Identify the behaviors, attitudes, needs, and underlying psychographics of each segment and how these differ by segment
- Inform strategies for reaching and relating to segments of greatest opportunity
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