Market Segmentation

Project status
Project posted
9 Sep 2013 09:24
Project duration (approx.)
93.0 Days
Budget (approx.)
£650 / day
Area of expertise
Analyst / Research , Marketing & PR
Consultant location
Off-site

Objectives and Key Deliverables

To establish an accurate, meaningful, evidence-based and
actionable profile of our clients target customers and our client's current members/customers in
order to:

 

•       Enable
objective prioritisation of product/marketing investments.

•       Drive
proposition and product/service development.

•       Inform
targeted campaigns and messaging.

•       Improve
marketing effectiveness. Today, this organisation lacks both a robust segmentation
model, and the quality/volume of data to inform and activate one.  Our client currently works with an ineffective, rudimentary model
based on assumption and untested hypotheses – focused on four basic career
stages: •       Stage
one: starting your career •       Stage
two: progressing your career •       Stage
three: management •       Stage
four: strategic  The primary challenges presented by this model are:  •       Its
origin lies in what, in our client's prior organisational structure, was our membership
product division, where it failed to have an impact on marketing effectiveness
or business performance. As our organisational structure has changed, it has
simply been carried forwards without full consideration of what the business
really needs. •       It
is aligned only to our client's consumer – an individual marketer. It takes no account
of our B2B relationships, or the influence of employers on individual
marketers, and therefore fails to address the realities of our market.        •       It
is based on limited (and low quality) data on which to ‘cluster’ customers or
prospects – namely age, job title/job rank and qualification history. These
data variables are largely considered an outmoded way of viewing customers, and
lack any reference to more meaningful perspectives based on needs, aspirations
and motivations (for example).



























•       It
is fundamentally flawed in the assumption that career stage alone creates
homogenous groups of customers. Not only is the clustering of customers flawed
(ie is everyone aged 35 at the same stage in their career?) but also, in
ignoring wider context such as employer capability or market maturity, makes
too many assumptions to be of use (ie is a Marketing Director in a small,
domestic business in Scotland facing the same needs, challenges and
value-context as a Marketing Director in a global, billion-dollar
corporation?). 



•       Segmentation
model for the UK marketing profession aligned to the needs, attitudes,
motivations and behaviours of our customers and consumers.

•       New
data protocols and standards, embedded into our CRM system – ensuring we
capture the right data moving forwards, and can mine our systems for greater
effectiveness.

•       An
opportunity assessment and prioritisation process established, to allow for
meaningful commercial discussions to take place based on segmentation insights.


•       A
programme, with supporting content and education, to bring our segmentation
model to life for our staff and key stakeholders across the organisation. Consultants with a background in non profit, education or professional bodies will be looked upon favourably.

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