Understanding Consumer Segmentation Today



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Target audience

The sessions will be helpful for Company Owners, Marketing Executives, Brand Directors and Brand Managers - especially those older generation businesses that need to update their marketing program to fit our changing world

Insight description

In today's crowded media space, using traditional consumer facts to build brand strategies is insufficient. It's essential for marketing and corporate planners to create business plans with more precise target audiences. The purchasers of your brand are not the end user in most cases. The old approach centered around purchase data of the head of household might have worked in a less crowded media market, but not anymore. Now, marketers can capture more of the right consumers through better segmentation. Segmentation increases competitiveness, brand recall, brand equity, customer retention, communications. Thus if it is affecting so many factors of your brand, then definitely it affects the profitability of the firm.

In this discussion, I will share my experience from lessons learned over 20 years of branding and marketing roles as well as strategies that helps me to increase sales by 20%+ in my current role where I manage a portfolio of over 200 products in active nutrition division. I have oversight for product development, marketing, product packaging and advertising processing for all channels.

Ideas We'll Explore in this Discussion

- What should you consider when setting up a usage occasion study?
- What can Need States and Segments do for your marketing strategy?
- How do you align with competition?
- Defining White Space Opportunities

After this discussion you will walk away with:

Attendees of this discussion will understand how to approach consumer segmentation - is it right for your organization and if so how and when do you do it. Where to find the consumer segmentation analytics and how to conduct them so that you are able to generate direct consumer feedback and engagement. Then, how do you choose the agency that is going to build out your segmentation analysis. Taking the right steps will give you powerful tools you can use to meaningfully reduce your media costs, improve sales and effectively present your competitive advantage to major clients and/or accounts to strengthen your brand and grow sustainably.

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  • https://www.b2binternational.com/publications/segmentation-are-you-my-type/
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