Business context & TGM Solution
To accurately reach the target group with your products and services, we recommend conducting segmentation of a market. Segmenting a market means to divide customers into different segments that differ from one another but are still internally consistent. Such a division of potential and existing customers allows targeting the market to be more effective and help adapt the offer and communication to the particular segment's needs. Implementing a strategy based on segmentation studies results in higher rates in many areas, namely financially, with the increase in ROI; and customer reception, that is improving customer experience.
At TGM Research, we use various market segmentation methods to cater to your company’s needs in the best possible manner.
Quantitative research support
First, we conduct market segmentation studies based on quantitative data. It can be market segmentation on existing data (publicly available or from data given by the customer, information from CRM or sales data). Most often, we perform segmentation studies on the survey data obtained as part of our market research. By asking a series of questions in a survey, we obtain the information needed to divide customers into segments.
Qualitative deep dive
Secondly, we also work within qualitative market segmentation, and we collect data for it by conducting online Focus Groups (FGI), online Individual in-depth Interviews (IDI), Online Communities or ethnographic research.
Expert data analysis
To divide customers or potential customers into segments, we perform data analysis. Regarding data collected from quantitative segmentation research, we analyze it using segmentation algorithms, such as latent class analysis or k-means cluster analysis. Qualitative research allows for expert selection of segments.
At TGM Research, we often combine the knowledge gathered in quantitative and qualitative research, using quantitative data to distinguish segments, and qualitative data to properly describe individual groups. This approach to market segmentation allows us to understand clients and their attitudes better, and after that, give them marketing and sales actions that are best suited to their needs.
Individual groups may differ:
- Demographically: age, sex, place of residence, education, earnings and occupation
- By behavior: how they buy and how they use given products and services
- By psychographic features: lifestyle, views, values, customs and character
Research tailored to your needs
While creating segmentation research, we take into account those aspects that are important to your business. In TGM Research, we adjust research methods, select the necessary data, and decide on specific data analysis methods to provide your company with valuable insights. These insights will then help you build effective communication, develop products and services and improve customer service.
Use our segmentation study results to increase the efficiency of your business.
Our dedicated team will guide you through all steps of your segmentation research using qualitative research and/or quantitative research to provide full consultancy and understanding of the local specificities and ensure that one same methodology will apply. For the sampling plan, we aim to provide the exact same blend and sources for respondents across countries and waves so that you can have comparable data for repeated measurement and historical trends. Our consultants will also support you with analytics to turn data from the market research into powerful insights for your business and product development. We will adjust the research design, the way it is carried out or data analysis to the needs of various stakeholders in your company, so that you can easily and effectively work with the results of the research.
When working on segmentation, a research agency can be a catalyst that helps employees who have been immersed in the project for a long time gain a fresh perspective and lead them to new ideas. We have expertise in business consulting and creating marketing strategies, sales strategies and strategies for specific brands and products. We use our experience in conducting workshops for customers, before the study - to refine the tested concept, and after the presentation of the study results - to popularize them in the organization and facilitate their processing and implementation of the recommendations resulting from the study. If you decide to cooperate with us, you will not be alone at any stage of the segmentation research - we will be supporting you throughout the entire process.
Since we operate globally, especially in the MENA and APAC countries, we know the specifics of many markets. Our experience allows us to create realistic assumptions about the entire research. Not only do we adapt each qualitative research to the local population, culture, religion, but we also ensure that all product or brand listings are also localized. We are still expanding the network of native speakers and researchers from around the world to not only provide the best language skills but also access to the cultural context.
During market segmentation research we use a variety of qualitative and quantitative tools to research ideas, processes, services and products, allowing us to learn about the opinion of customers on a deep level so we can segment them better. Depending on your needs, we will propose the most effective market research tools and methods as well as methods of processing the segmentation results.
We are an ethical company where top management ensures that the recommendations offered to our clients are reliable, in line with market requirements and truly adapted to the needs of the project. We recommend minimum sample sizes that allow you to have a statistical reading of your data that is sufficiently robust and reliable. We do not promise more than we can do so that you will always know that you can rely on our word.