While venturing into new markets, it is of utmost importance for any auto accessories store to analyze the appropriate customers with similar wants and needs. To design an effective market strategy and identify the potential target segment, leading auto accessories stores are advocating the need for a robust segmentation analysis. Through an effective customer segmentation analysis, businesses in the auto accessories space can direct their marketing efforts towards specific customer demographics. Furthermore, segmentation analysis helps businesses to offer a personalized customer experience for transforming customer satisfaction into brand loyalty.
To establish their presence in the auto accessories space, leading providers are approaching Infiniti Research. Infiniti’s segmentation analysis experts help businesses analyze and organize customers data into meaningful insights to build robust strategies for targeting the right audiences. Also, with the help of segmentation analysis, leading auto accessories providers can allocate the resources effectively and gain better ROI.
The Business Challenge
A renowned auto accessories store with a considerable number of branches spread across the globe was facing predicaments positioning their product portfolios in the Latin American market. The client further wanted to segment the market and analyze each segment separately. Furthermore, the client wanted to understand the market landscape in terms of the competitors, their product positioning and devise effective strategies to gain a competitive advantage within the market segment.
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Our Approach
To maximize profitability and leverage the use of resources in an effective manner, the client approached Infiniti Research. With years of expertise in offerings a plethora of services, the analysts carried out a qualitative research comprising of interviews to improve the end user’s experience with the product. Furthermore, to understand the market potential, the client further crafted a dashboard by collating information from various proprietary sources such as paid industry databases, company presentations, and media platforms.
Benefits of Segmentation Analysis Solution:
- Effectively defined markets and allocated resources accordingly
- Identified the target groups and aggressively marketed to these segments
- Identified potential opportunities in the market and devised an effective go-to-market strategy
- Assessed the customer behavior in terms of the customer loyalty and customer affinity
- Efficiently tailored products, services, and pricing to meets the needs of segments
Benefits of Our Integrated Approach
With the help of this segmentation analysis study, the client gained actionable insights into their customer base including the most and the least profitable customers. The engagement also helped the client understand the preferences of the target audience and effectively allocate resources. Also, the client was able to assess the buying characteristics of the customers in terms of the marketing and the sales channels and devised an effective go-to-market approach.
