From the course: Market Research: Qualitative

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Customer segmentation with qualitative insights

Customer segmentation with qualitative insights

From the course: Market Research: Qualitative

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Customer segmentation with qualitative insights

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- Over the course of my career, I have conducted market research projects with hundreds of brands, and what I can tell you is that the most successful ones pay attention to what the data is saying about who their different types of customers are. This is what we call customer segmentation. It's a process of dividing your customers into unique segments. The most successful segmentation happens when we look at all the data we've collected and use it to break down that data into different psychographic or behavioral groups. This means that we're separating groups not based on demographics, but instead based on how customers make decisions and take action. These can be either your customers today or an aspirational set of customers, meaning the customers you want in the future. My company recently conducted almost 600 in-store interviews with shoppers at thrift stores. Based on this data, we were able to identify a number…

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