To stay relevant in today’s dynamic and competitive business environment, personal care products firms across the globe have started implementing new strategies to improve their profitability and competitiveness. Moreover, personal care products organizations have started targeting customers by offering unique and innovative products and services to expand their portfolios. As a result, market segmentation studies have become a central force for organizations in the personal care products landscape to gain comprehensive information about individual segments in the market. Moreover, effective market segmentation helps manufacturers gain a better perspective of the market and customers’ preferences.
With years of expertise in offering market segmentation solutions, Infiniti’s market segmentation solutions help personal care products manufacturers to categorize customers into appropriate segments effectively. This helps the client to tailor strategies and subsequently achieve better acquisition rates.
The Business Challenge
A leading personal care products manufacturer with offices spread across the globe was facing significant challenges in developing a unique brand positioning and reaching out to different target audiences. As a result, the client wanted to devise a robust market segmentation model to reach out to various niche markets segments and effectively sell their products. Additionally, the client wanted to devise an effective segmentation strategy to meet the needs of the consumers seamlessly.
Our Approach
To target the right customers and develop a new product strategy, the personal care products manufacturer approached Infiniti Research’s group of market segmentation specialists. Infiniti’s team of specialists carried out an extensive research including discussions and interviews with leading stakeholders in the personal care products manufacturing space. Additionally, they compiled information across various exclusive sources such as paid industry databases, newsletters, company presentations, and media platforms to cater to the demands of the specific target groups.
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Benefits of the Market Segmentation Study
- Identified the market potential opportunities and devised a robust strategy
- Gained insights on the customer behavior in terms of brand loyalty and brand attitude
- Effectively segmented the target segment based on demographics and psychographics
- Tailored products and services to address the unique needs of the target audience
- Improved competitiveness and profitability and enhance marketing and service efficiency
Benefits of Our Integrated Approach
In a span of mere 12 weeks, the client was gained actionable insights into the different segments of the personal care products market. Additionally, the client was able to identify and target the audience with common characteristics and devise an effective strategy to address their specific needs.
