Brooklyn

March 5-6, 2019

Brooklyn
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New Tools for Market Segmentation

Room 5 | 3:15-3:45 | Wednesday, March 6, 2019

In a complex world, increased competition, new channels of distribution and media and market fragmentation have led to greater product variety being offered by companies.

Consumers are willing to pay more for, and to be loyal to, products and services that better meet their own particular needs. If priced and delivered properly, higher prices should lead to higher profits for the manufacturer. In fact, well-marketed and targeted products and services will reduce competitive pressure and will provide the manufacturer some insulation from price wars. Thus the benefits of market segmentation and targeting are most beneficial to firms and their customers.

Unfortunately, many market researchers are “stuck” using analytical tools and methods that were popular 30 years ago. While more powerful tools are available, too many researchers have not been educated on newer approaches that solve many of the problems of these older methods.

Presentation type:

  • Best Practice Workshop

Subjects covered:

  • Data visualization
  • Predictive analytics
  • Behavioral economics
  • Industry trends – future of marketing research
  • New techniques – qualitative and quantitative

Takeaways:

  1. New ways of segmentation based on multiple, simultaneous domains.
  2. New ways to segment based on different decision protocols.
  3. New ways to segment consumer decision journeys.
  4. New ways to understand the relationship between motives for action and attributes of products/services that drive decisions.

Speakers:

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