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4 Areas That Yeild Valuable Segmentation Information

During the emerging growth stage of the business, entrepreneurs should begin asking questions of customers and target customers and build up market intelligence in these four areas

  • Perceptions of product providers, their brands and loyalty to them
  • Current relationships with providers and desired ideal relationships
  • Product ownership, needs and perceptions of benefits, gaps and opportunities
  • Preferred awareness, buying and delivery channels.

These are the areas of research most likely to produce key response bases for proprietary use in gaining a sustainable competitive advantage and powerful market positioning.

Read “Segmenting Markets for Rapid Growth”

1. PERCEPTIONS OF PRODUCT PROVIDERS, THEIR BRANDS AND LOYALTY TO THEM

  • Ask what provider brands are known?
  • Show different product providers logos.
  • What is your opinion of each of these companies?
  • What are the first thoughts that come to mind when you see each one?
  • What sorts of products do they sell?
  • What products could they sell?
  • What types of people buy from them?
  • How would you group them?
  • Who are the key competitors?
  • Why?
  • What are their key sales and service activities?

 

2. CURRENT RELATIONSHIPS WITH PROVIDERS AND DESIRED IDEAL RELATIONSHIPS

  • How would you describe your relationship with your current provider?
  • Do you think they provide good service?
  • What do you expect versus what they deliver?
  • What is a good relationship? And a bad one?
  • How much contact do you want after purchase?
  • Would you want to hear about new products?

 

3. PRODUCT OWNERSHIP, NEEDS AND PERCEPTIONS OF BENEFITS, GAPS AND OPPORTUNITIES

  • Probe ownership of product x type and other category products.
  • Probe companies they have had experience of.
  • Which product x types have you heard of?
  • Probe full list to gauge understanding of products available.
  • What product x do you own?
  • What was the trigger to purchase?
  • What others did you consider?
  • What are your main reasons for having a product x?
  • Are certain product x more suitable/better than others to meet your objectives?
  • What were the main things you were looking for when you bought the product?
  • Who did you buy it from?
  • Why?
  • How did you go about buying it?
  • What influenced you, positively and negatively?
  • Have you or anyone you know had any problems with it?
  • How does the product category disappoint people?

 

4. PREFERRED AWARENESS, BUYING AND DELIVERY CHANNELS

  • Where would you expect to buy one?
  • How would you expect/like to hear first about its availability?
  • How much help, information and assistance would you need to buy it?
  • Would you buy it direct or through a channel intermediary?

 

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