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Segmentation and market potential

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Segmentation and market potential

Do you understand your market?

Customer Segmentation is a more complex version of Customer Profile study. Special type of analysis enables us to classify participants into "segments", which is where the name for this type of research comes from. Segments or clusters are consisted of customers with similar characteristics and habits.

Basic questions which will be answered:

  • Which segments are present among consumers of certain product/service category?
  • Who are the consumers of each segment?
  • How large is each segment?
  • What is the buying behaviour of each segment?
  • To which social strata do they belong to?
  • What is their lifestyle?
  • How loyal are they to products/services?
  • What is their willingness to buy?
  • What are their attitudes towards products/services?

Based on all given information, it is possible to choose key segment on which you should be focused – the one most profitable regarding its proportion or buying power.