Market segmentation identifies and targets the groups of customers most likely to purchase the products or services that you offer. Customer groups are identified using a variety of techniques and descriptors, such as demographics, psychographics, behavioral activities, technical knowledge, occasions of use, purchase situations, benefits sought, usage rates and even geographic areas.
The effectiveness of any marketing plan is a reflection of management’s perspective of and ability to reach these segments. The degree of market segmentation (aggregation or disaggregation) ranges from offering one product to the entire market (Ford only made one model “T”) to total customization for each customer (Nike’s Web site now allows you to totally customize your own shoes by picking style, color, and then emboss them with your own initials).
Which method market segmentation is most effective? Of course it depends on the specific product or service being considered. The preparation of content for advertisements or web pages would rely heavily on benefit segmentation. The design of an economical automobile for a young single woman would of course rely heavily on demographics as well as psychographics.
No matter how you break down your respondents, Qualtrics helps you get the information you need.
Market segmentation with Qualtrics is easy with our library of profiling questions that use standard scales from the U.S.Census. All questions and scales may be edited to conform to your measurement requirements. Qualtrics offers unique question types to help you gather customized information about your customers in an easy to answer format. Sample market segmentation surveys and questions are available in the Qualtrics Survey Library.
Qualtrics also offers advanced logic and reporting to help you with your market segmentation data collection. Easily filter out respondents that do not fit into your market segmentation by using branch logic in the survey flow. Set quotas to limit the amount of people from a certain demographic that take your survey and create subgroups in your reports to filter out portions of your respondents that answered survey questions a certain way.