Market Structure & Segmentation
CRS has a great deal of experience designing and conducting segmentation studies. The primary uses of a Market Structure and Segmentation study are to better understand the current competitive landscape and brand positioning, identify the best target segments, and discover new product opportunities.
Segments are identified and sized based on a variety of variables including usage occasions, wants/needs, product feature configurations, attitudes, psychographics, and demographics. CRS uses two primary analytical methods to create the segments which includes Latent Class Segmentation and Cluster Analysis.
Once our initial segment solutions are created and profiled, CRS then collaborates with our clients to ensure the proposed segments are relevant, reachable, and actionable. Sometimes it is necessary to run the segment solutions using two different techniques to determine which produces the best results for the client.
The information gained from this research provides both strategic and tactical information. It can be used to help guide strategy for new product development, marketing communications, channel development, and the future strategic vision for the company.
If you would like a whitepaper on this approach, please let us know using the Contact Us form or call us at the office 770-246-0298.