Organic Market Segmentation

Posted on October 31, 2012 by Nicklas Ward

Local businesses in Maine often provide good insights on how businesses successfully respond to market segmentation.

Many Maine businesses were founded as lone establishments: for example as a Fish’n Chips Wagon or as a Lobster Shack. Most shack business are quick serve restaurants -  serving up fund foods to a casually clad vacationing customer.  Other opportunities become apparent to an owner of these types of businesses if profits are good and if the owner understands the implications of clearly identifiable environmental attributes such as a particularly unique location, different people seeking different experiences, or an exceptionally fresh product. Continue reading →

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How to Obtain a Great Market Segmentation

Posted on May 18, 2012 by Nicklas Ward

Great market segmentation results rely on imagination.

Starting with great imagination is perhaps even more important than the precise variables on which the segments are based, the measurements taken or the calculus used to compute the segments. Think twice and cut once.

Single Variable Segmentation Example

Many powerful segmentations are based on a single variable that is measured and then sliced at various thresholds. As illustrated by a normal curve sectioned into several pieces – there is one variable and segments are assigned according to cut points identifying segment boundaries.

The so-called Technology Adoption Lifecycle Model is one powerful example of this type of segmentation model. A person’s single answer to a single question determines which segment they belong to. Meters including thermometers and speedometers give rise to everyday segmentations such as determining whether one has joined the class of people having a fever or about to receive speeding ticket and so forth.

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Optimize Target Market Segmentation Analysis and Positioning

Posted on May 10, 2012 by Nicklas Ward

Clear Market Structure Possessing Evident Targeting and Positioning Opportunities

Optimizing Market Segmentation Analyses and Outcomes

Ronald Reagan’s taste in jelly beans offer a presidential view of market segmentation and its impact on customer targeting, brand positioning, and new product development. All elements of segmentation, targeting and positioning are encompassed in watching a person select and savor a jelly bean.

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Growth: Implications for Business Transformation

Posted on April 24, 2012 by Nicklas Ward

Growth: Implications for Business Transformation

A drive past an apple orchard in full bloom turned a conversation on business transformation to new ideas about how the type of growth we embrace determines the kind of business we end up with.

Even old apple trees undergo eye-opening transformations each year and invest in growth. Can the same be said for your business?

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Market Segmentation Strategy: How to Get More Actionable Insights

Posted on April 4, 2012 by Nicklas Ward

Market Segmentation Strategy: Metaphors and Actionability

Market segmentation results need to be useful to both left-brain and right-brain thinkers. Managers primed for Whole-Brain thinking can come up with more and better business actions.

Segmenting a market is a highly analytic exercise often involving a lot of data. We have
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Pricing Strategy: How to Price Your Product

Posted on March 16, 2012 by Nicklas Ward

Pricing Strategy: How to Price Your Product

Establishing the correct price for your product or service is critical to your business’ success.  A first step is to conduct an analysis to identify the Communicable Valuable Differences that can support your pricing strategy. A second and equally  Continue reading →

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Pricing Strategy – Positioning is Critical

Posted on March 3, 2012 by Nicklas Ward

Pricing Strategy – Positioning is Critical

When business people talk about pricing strategy they usually begin describing various approaches such as “cost-plus” or “penetration pricing” and so forth. There are literally hundreds of different pricing strategies and models.

The discussion about how to price your product or service should not start with any of these methods or strategic models.

This video demonstrates how positioning affects product pricing and why you should bring positioning into all of your pricing strategy thinking.

You will find much more success by starting your pricing discussions with insights about how positioning affects pricing opportunities.

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Pricing Strategy – What are You Willing to Pay?

Posted on February 24, 2012 by Nicklas Ward

Don’t make this mistake when pricing your product or service!

Asking customers, when setting pricing strategy – what are you willing to pay?

We find that many business people and marketers make simple mistakes when trying to establish a price for their product or service.  For one thing, they conduct the wrong kind of pricing research.  Sure, finding the right price means asking what customers are willing to pay.  But you gotta ask the question in the correct way!  Marketing Pathfinders LLC solves this product price and service price dilemma with a video which tells you about one approach used frequently by many seasoned business people and why the technique fails.  You will come away with an actionable market insight -why you don’t want to make this mistake that is made everyday by marketers everywhere.  You might even stop yourself from doing this ever again!

Pricing your product or service? Don’t make this mistake!

 

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Marketing Pathfinders LLC – Marketing Insights For Action

Posted on February 2, 2012 by Nicklas Ward

Marketing Pathfinders LLC – Marketing Insights For Action

Want to improve the connection between your products and services to customers?

Marketing Pathfinders LLC can help you whether you are looking to generate new ideas, want to validate and prioritize new product designs, develop go-to-market strategies or improve your existing business’ in-market performance. We use market analysis tools such as market segmentation, product pricing studies, discrete choice, and positioning research – but our focus is on your in-market success. Marketing Pathfinders LLC – Marketing Insights For Action your go-to resource to grow your business.

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Market Segmentation Leads to Business Transformation

Posted on January 15, 2012 by Nicklas Ward

Market segmentation leads to business transformation

When you to have new insights and begin to think differently about entry points to fulfilling your customers’ desires – then your business can improve radically.  Market segmentation can give you those new thoughts.

Marketers often think of segmentation in terms of splitting customers into different groups. Demographic segmentation uses factors such as age and location to define different customer groups. Psychographic segmentation groups customers according to factors such as life stage and personality. In addition to these two types of segmentation there are countless others: needs based segmentation, behavioral segmentation, vertical market segmentation and so on. As implied by the method names – focus is on the variables and how customers split.
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