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Market segmentation is an approach that breaks down mass markets into submarkets of customers with common attitudes, needs or behaviour.
Identifying segments enables marketers to do two things:
- Customise product and services so that they are better tailored to the needs of specific customer segments
- Allocate marketing resources more efficiently
The Clever Stuff has a wealth of experience building segmentation from primary or secondary data.
Positioning statements indicate how we want customers to think of our product/service/brand relative to competitors.
How to position a product or service is one of the most important decision for a marketer.
At The Clever Stuff, we have a range of tools to evaluate current perception and give directions to marketers as to which positioning is most likely to be successful.
New Product Development
NDD research is a very broad research topic. Research objectives varies depending on what stage in the NPD process you are.
From concept screening to product optimisation and take up forecasting, The Clever Stuff has expertise in all stages of the NPD research process:
- Concept screening
- Product optimisation
- Pre-test market
Pricing and Promotion
Pricing is the most influential levers marketers can use to impact profitability. Additionally price also affect brand positioning and market value perception.
The Clever Stuff are expert at pricing research in a wide range of context and category:
- Banking, telecom, media, automotive, healthcare, FMCG, quick service restaurant
- Individual products, product range, bundling, build your own
Customer Satisfaction and Loyalty
According to Harvard Business Review, “acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.”
Customer retention has a direct impact on profitability and it is important that businesses understand what metrics to measure and track to minimise churn.
The Clever Stuff has a broad experience running customer satisfaction programmes and modelling customer satisfaction data to identify service drivers (satisfaction, dissatisfaction, loyalty, recommendation, etc)