Market segmentation is a combination of three distinct, but equally critical, processes:
Segmentation – Using sophisticated proprietary methods, Evolution analyzes different groups, or “segments,” depending on factors like your company’s size, goals, and what types of upcoming projects are in your development pipeline. There are four parts to segmentation, and each tries to answer different questions about the market:
Accessibility – What’s the best way to communicate with the segment?
Measurability – What does the segment value in a product or service? How much buying power does it have?
Sustainability – How profitable could the segment be for your company? What sets it apart from other segments in the long-term?
Actionability – What specific actions should your company take to reach the segment and maintain an edge over competitors?
Targeting – Based on our analytical data, we identify the most financially promising groups to court through targeted long-term or short-term advertising campaigns. During the targeting stage of the segmentation-targeting-positioning (STP) process, we’ll walk you through different marketing choices to help you determine which is right to meet your objectives:
Undifferentiated – Ideal for reaching broad target segments with a single service or product
Differentiated – Ideal for targeting mixed segments with different services or products
Niche (Concentrated) – Ideal for narrow specialty targets or smaller companies with tighter budgets
Positioning – Your business strikes while the iron is hot, establishing yourself as the best and most appealing option for the segment. To find what buyers want and how you can provide it, we combine three tested positioning strategies:
functional positioning (customer’s need fulfillment)
Armed with our research and recommendations, you can optimize or develop your product’s positioning more effectively.
Evolution Consulting’s nimble service model emphasizes cutting-edge analytics, niche expertise, and most importantly, actionable recommendations that take your business from Point A to Point B (and beyond).
Evolution provides market segmentation and positioning research for pharmaceutical, financial, and consumer businesses. By giving your business clear and detailed data on patients, clients, or consumers, market segmentation research can help you target and reach underserved geographies and demographics. The result? Increased opportunities to expand strategically into the most promising markets and ultimately generate more revenue.
Evolution has comprehensive therapeutic area and methodology experience – including proprietary approaches for clients in the healthcare industry. We can design and execute research for objectives across all the phases of a product, including pharmaceutical market segmentation.
Along with conjoint analysis, ATUs, and A&Us, market segmentation is one of the many quantitative methodologies in which we’re expert. Market segmentation gives your business a clearer view of unmet needs across diverse markets. The result? You boost your ability to develop unique, game-changing solutions that set you apart from your best-equipped competitors.
Our principals and researchers have decades of combined experience with quantitative methodologies in the pharmaceutical industry. We bring the same set of skills to the consumer goods sphere – but mold them to meet the special challenges facing the CPG industry.
We speak the segmentation language. We believe in immersive, hands-on engagement from start to finish, with senior management handling your project at every step of the way. Whether you’re looking to widen your customer net, find new growth opportunities, or build your brand’s visibility, we’re ready to help you get started.
Put simply, failing to segment customers holds your company back. When different segments receive the same treatment, customer retention and satisfaction both plummet. At the same time, it gets harder to acquire new clients.
Market segmentation allows your company to focus exclusively on the most profitable segments, enable cost-reduction, and improve ROI. Additionally, it decreases your expenses by allocating your resources where they’ll be most effective. And if it’s customer satisfaction you’re after, it too can be achieved when clients feel their needs are being heard and met.
No matter how large or how small your project is, market segmentation research by Evolution can take you there.