Segmentation and Categorization Studies

Contrary to popular belief, there is no single correct way to segment a market. WRS is a market leader in helping our clients determine how to segment and categorize their target markets. 

Some key market segmentation variables we utilize include:

• Attitudes
• Behaviors 
• Demographics
• Felt Needs
• Geography
• Lifestyles 
• Occasions
• Opinions
• Psychographics
• Purchasing drivers
• Usage drivers

To determine how best to conduct market segmentation, WRS considers a number of segmentation approaches. For example, a segmentation strategy can be based upon frequency of use of a product or service, occasions of use, and/or the benefits consumers derive from a specific product or service. Once the best method is identified, we use the most appropriate marketing research tools to define the segments.

The market segmentation approach we use most frequently is to conduct factor analyses to ascertain the underlying structures in the data, then to identify market segments by conducting a Discriminant analysis, and finally conduct a variety of tests in order to characterize and describe the individual market segments. Our approach is flexible, customized, and designed to deliver highly actionable market segmentations based on:

• WRS's depth of experience in a variety of market segmentation research methods; and
• Multi-tiered market segmentation methods designed to support an array of strategic, marketing, and sales applications.

WRS's Primary Market Segmentation Research Tools

• Factor and Cluster Analysis Using Rating Scales
• Conjoint, Choice or Latent Class Modeling using consumer trade-offs
• Logistic Regression and Neural Network Modeling for behavioral modeling
• Simple, easy-to-interpret supporting techniques, such as crosstabs

E-mail or call today to learn more about how WRS can help you segment and categorize your key stakeholders.