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How to Identify Strategically Relevant Consumer BuyersThe goal of segmenting consumers is the same as segmenting corporate buyers. All consumers are not alike, and buyers need to be grouped based upon their needs, how they use the product, how they purchase the product, and the cost of serving them. The grouping of consumers will rarely be the same from industry to industry. One visit to Grand Central Station in New York and a list of 100 ways to segment consumers comes to mind. Segmentation, however, needs to be considered from the industry's point of view, and not from the view of the census bureau. A retail bank considering an ATM in Grand Central Station might consider some of the following buyer type segments: income level (high, low); language spoken (many of the ATMs in New York City have instructions in Spanish, Japanese, Chinese, and Russian); net worth; occupation (employee, corporate officer, business owner, professional, homemaker); age; marital status; disabled or not (for example, height access to ATM); New York resident, commuter, domestic traveler or international traveler; PC owner or not; and the list goes on. |
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