Questions that the analysis can address:
- How can we better understand and meet the needs of a diverse customer base?
- Do different types of customers want different things?
- How do we communicate effectively with diverse customer groups?
Mindful of the fact that markets are comprised of individuals with distinct needs and preferences; our research team uses cluster analysis to understand how to better meet the needs of diverse markets. The analysis works by using survey data and other types of data to group individuals into like-minded segments.
We develop detailed descriptions of the characteristics of each segment, estimate the size of each segment, create simulation programs that classify individuals into segments based on their responses to a series of questions and provide algorithms to recreate these segments.
We use cluster analysis to develop targeted communications that appeal to distinct segments, and to assist clients in tailoring products and services to better meet the needs of the market.