Interesting 8-hour discussions on consumer segmentation today. It once again reconfirmed that cases of successful segmentation based on socio-demographic differences is almost nonexistent. Rather, the segments are based on a combination of cultural, psychological, value-based and behavioral characteristics (or "life-style" if you will). And there is not a single correct segmentation - be creative to create your, this may lead to discovery of absolutely new markets! But please, check that your segmentation is valid - any given consumer can only be on one single market segment :) The more focused you are - the more effective, though even in a specific segment you will most probably have compete with the mass-market products..
And some trivia: Did you know that Heineken sells over 90 different beer brands in Italy (the most non-beer country I can imagine)? What caught me by surprise is that Italy is the world's largest mineral water market!
(c) Prof. Troilo
SDA Bocconi
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