Know the Basics of Quantitative and Qualitative Segmentation Research
Numerous individuals are involved in the design and implementation of segmentation research. Participation in research interests at a high level can either enhance or derail a segmentation project.
Numerous dynamics contribute to the success of segmentation research efforts, and they have received considerable attention in the fields of management, leadership, and human resource management. In other words, there are numerous resources available to assist market research teams in determining the most effective ways to collaborate with stakeholders on research projects.
The quality of research design is directly related to the quality of decision-making information available. While this is self-evident, the steps necessary to ensure the availability of high-quality information is frequently overlooked in the rush to begin a research project. Internal stakeholders may exert excessive pressure on market researchers to launch the project.
And both external and internal stakeholders are likely to believe they know what should be the focus of the research, how it should be conducted, and they frequently have strong preferences for quantitative or qualitative approaches to the market research problem.
When the initial excitement of embarking on a segmentation research project subsides, successful implementation is highly dependent on the ability of people to collaborate, the degree of autonomy established by the research team, the level of credibility according to the research team, and the team’s capacity to amass quality information in a timely manner. Prior to initiating the research project, however, market researchers must develop a well-thought-out segmentation strategy.
The following are the initial steps in developing a segmentation strategy:
● Define the segmentation challenge or issue succinctly.
● Identify alternative approaches to the segmentation research challenge.
● Select the most appropriate research strategy for the segmentation problem.
While defining the segmentation problem is a critical first step in developing a successful segmentation strategy, it is also the most likely step to be overlooked. As with any research strategy, this is the starting point for developing hypotheses. The market research team’s first task is to establish segmentation bases and descriptor variables. There is never a single optimal segmentation basis. Numerous bases can be used to address a variety of research objectives and product development decision-making problems.
