Market Segmentation Analysis

This book is published open access under a CC BY 4.0 license. This open access book offers something for everyone working with market segmentation: practical guidance for users of market segmentation solutions; organisational guidance on implementation issues; guidance for market researchers in charge of collecting suitable data; and guidance for data analysts with respect to the technical and statistical aspects of market segmentation analysis. Even market segmentation experts will find something new, including an approach to exploring data structure and choosing a suitable number of market segments, and a vast array of useful visualisation techniques that make interpretation of market segments and selection of target segments easier. The book talks the reader through every single step, every single potential pitfall, and every single decision that needs to be made to ensure market segmentation analysis is conducted as well as possible. All calculations are accompanied not only with a detailed explanation, but also with R code that allows readers to replicate any aspect of what is being covered in the book using R, the open-source environment for statistical computing and graphics.

This is a practical how-to guide to what marketers need to know about defining, segmenting and targeting business markets: assessing customer needs; gauging the competition; designing winning strategies; and maximising corporate resources.

Get from Idea to Product/Market Fit in B2B. The world has changed. Nowadays, there are more companies building B2B products than there’s ever been. Products are entering organizations top-down, middle-out, and bottom-up. Teams and managers control their budgets. Buyers have become savvier and more impatient. The case for the value of new innovations no longer needs to be made. Technology products get hired, and fired faster than ever before. The challenges have moved from building and validating products to gaining adoption in increasingly crowded and fragmented markets. This, requires a new playbook. The second edition of Lean B2B is the result of years of research into B2B entrepreneurship. It builds off the unique Lean B2B Methodology, which has already helped thousands of entrepreneurs and innovators around the world build successful businesses. In this new edition, you’ll learn: - Why companies seek out new products, and why they agree to buy from unproven vendors like startups - How to find early adopters, establish your credibility, and convince business stakeholders to work with you - What type of opportunities can increase the likelihood of building a product that finds adoption in businesses - How to learn from stakeholders, identify a great opportunity, and create a compelling value proposition - How to get initial validation, create a minimum viable product, and iterate until you're able to find product/market fit This second edition of Lean B2B will show you how to build the products that businesses need, want, buy, and adopt.

Modern marketing techniques in industrialized countries cannot be implemented without segmentation of the potential market. Goods are no longer produced and sold without a significant consideration of customer needs combined with a recognition that these needs are heterogeneous. Since first emerging in the late 1950s, the concept of segmentation has been one of the most researched topics in the marketing literature. Segmentation has become a central topic to both the theory and practice of marketing, particularly in the recent development of finite mixture models to better identify market segments. This second edition of Market Segmentation updates and extends the integrated examination of segmentation theory and methodology begun in the first edition. A chapter on mixture model analysis of paired comparison data has been added, together with a new chapter on the pros and cons of the mixture model. The book starts with a framework for considering the various bases and methods available for conducting segmentation studies. The second section contains a more detailed discussion of the methodology for market segmentation, from traditional clustering algorithms to more recent developments in finite mixtures and latent class models. Three types of finite mixture models are discussed in this second section: simple mixtures, mixtures of regressions and mixtures of unfolding models. The third main section is devoted to special topics in market segmentation such as joint segmentation, segmentation using tailored interviewing and segmentation with structural equation models. The fourth part covers four major approaches to applied market segmentation: geo-demographic, lifestyle, response-based, and conjoint analysis. The final concluding section discusses directions for further research.

Develop a successful strategy for segmenting high-tech and industrial markets! Whether it's due to a lack of focus, lack of time, or just bad planning, most companies fall short of the mark in their target marketing. The Handbook of Market Segmentation, 3rd Edition: Strategic Target Marketing for Business and Technology Firms is a practical, how-to guide to what marketers need to know about defining, segmenting, and targeting business markets: assessing customer needs; gauging the competition; designing winning strategies; and maximizing corporate resources. The latest edition of this marketing classic combines content and features from the previous editions with an emphasis on successful practices in business-to-business and high-tech segmentation. This valuable research source puts the latest thinking from the business and academic communities at your fingertips. From the author: The most important thing I’ve learned from working in market segmentation research and strategy for more than 15 years is that few companies get the most from their target marketing. Their top executives advocate the need to be market- or customer-oriented but base their marketing plans on cursory, incomplete, or emotional analyses. They end up with ’fuzzy’ business missions, unclear objectives, information that isn’t decision-oriented, unfocused promotional strategies, and no real plan to attack niche markets. This happens because they haven’t developed an effective strategy for segmenting high-tech and industrial markets. They don’t have a process that introduces and improves their business segmentation planning and execution. What they need is a handbook for improving their organization’s performance in new and existing business markets. Handbook of Market Segmentation, Third Edition: Strategic Target Marketing for Business and Technology Firm is a state-of-the-art guide to market identification, analysis, selection, and strategy. The book is organized into four parts (segmentation planning, business segmentation bases, implementing segmentation strategy, segmentation strategy cases) and includes applications, case studies, checklists, figures, and tables. Each chapter features a Segmentation Skillbuilder (a field-tested exercise that improves your working knowledge of key business-to-business segmentation topics) and a Business Segmentation Insight (an in-depth look at a key segmentation issue). Handbook of Market Segmentation, Third Edition: Strategic Target Marketing for Business and Technology Firms examines: how to conduct effective, cost-efficient, and profitable segmentation studies segmentation options such as differentiation and niche marketing defining business markets a 10-point program for segmenting business markets (planning and research) business segmentation bases (geographics, firmographics, benefits, usage, purchasing behavior) how North American Industrial Classification System (NAICS) has replaced SIC analysis criteria for choosing target markets implementing segmentation in business organizations how to conduct (and benefit from) a segmentation audit detailed segmentation studies on six companies—Collins Aviation Services, Dev-Soft, Dow Corning, Lexmark International, Pharmacia Corporation, and Sportmed and much more! Handbook of Market Segmentation, Third Edition: Strategic Target Marketing for Business and Technology Firms is an essential resource for business professionals working in the high-tech, industrial, and business service industries, and for educators training the next generation of marketers, managers, and strategists.

Using a step-by-step approach, the author leads the reader through the various stages of identification, implementation and maintenance of a coherent market segmentation strategy. This approach allows any manager, in any market, to realise new business opportunities via a series of logical and easy to follow stages.