An innovative company aims for a differentiation strategy shortly after the market launch of a new service. This requires reliable information on customer types, product preferences and willingness to pay. The focus of the study was on the identification of customer segments, a market potential analysis, and the derivation of recommendations for action to optimize the product lines.
An innovative company aims for a differentiation strategy shortly after the market launch of a new service. This requires reliable information on customer types, product preferences and willingness to pay. The focus of the study was on the identification of customer segments, a market potential analysis, and the derivation of recommendations for action to optimize the product lines.
Which product line differentiation is the best way to address different customer segments?
In close cooperation with the client, Statista Q conceived a suitable research design. In order to conduct the customer segmentation and the market potential analysis, various methods were applied. By means of semi-structured telephone interviews, price sensitivity measurements according to Van Westendorp, conjoint, latent class, and cluster analyses, the various customer segments were successfully identified and defined. In addition, a survey revealed the exact customer needs and willingness to pay. The insights gained were processed graphically and presented to the customer.
The findings of the project enabled the customer to successfully differentiate its service offering and tailor it precisely for the various customer segments. Knowledge of willingness to pay enabled the customer to tailor optimal offering packages based on facts. The results were made available exclusively to the customer in the form of structured data tables, which enabled the results to be compared by target group. In addition, the results and recommendations for action were presented to the customer and discussed bilaterally.
The findings of the project enabled the customer to successfully differentiate its service offering and tailor it precisely for the various customer segments. Knowledge of willingness to pay enabled the customer to tailor optimal offering packages based on facts. The results were made available exclusively to the customer in the form of structured data tables, which enabled the results to be compared by target group. In addition, the results and recommendations for action were presented to the customer and discussed bilaterally.
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