Hoe it looks in practice

Research
for the purpose of market segmentation

For the purpose of market segmentation, research seeks to identify existing market segments and, with the help of analytical models, connect them with certain geographical and demographic factors, values, attitudes, lifestyles and the like.

By identifying market segments, among other things, it can be found that the expectations of women from a product are not the same as those of men, that this product does not meet the same needs of older and younger people, older and lower wealth, and that all they are not willing to pay the same price for it.

Based on the results of market segmentation research, the company can modify all elements of the marketing mix. For example, it can focus its efforts on only one market segment, it can offer slightly different products and at different prices to different market segments, it can create several types of advertising campaigns, etc. The company can also ignore market segments and offer the same product and advertising, if it considers that the differences between certain types of customers are too small to be commercially interesting.

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Audeo

market research and opinion polling agency