Market segmentation research is when you study a particular market to figure out what people want and how to best serve them. It can be useful to start with some general market research to understand the demographics of your target market and what they might be interested in. From there, you can conduct more specific market segmentation research to figure out how to best reach them.
What kinds of companies can use market research?
Any type of business can use market research, but it is particularly useful for businesses that are trying to reach a new or untapped market. It can also be helpful for businesses that are looking to expand their product offerings or enter into new markets.
What are some methods of conducting market segmentation research?
Businesses can use a variety of methods to gather data on these factors, including surveys, interviews, focus groups, and secondary research. Once the data has been collected, businesses should analyze it in order to identify patterns and trends. This analysis will help businesses to determine which markets are the most promising for their products or services. The easiest way to do this is by teaming up with a market research company or survey data collector.
When conducting market segmentation research, businesses should consider a number of factors in order to identify the most appropriate target markets for their products or services. These factors include geographical location, demographics, psychographic, and buying behavior.
If you’re thinking about targeting a specific market segment with your products or services, make sure to conduct thorough market segmentation research first. This research will help you to identify the most appropriate target market for your business.
looking for a market research company to assist with this, John Zogby Strategies
is a great place to start.