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Customer segmentation

  • Publisert 15.08.2014
  • Sist oppdatert 18.08.2014
All markets are different. Sometimes the most relevant growth market segments are not the ones you assume. In the Customer segmentation tool, you identify your new customer segment, its traits, and its characteristics with your local partner.

This tool facilitates discussion on how your product fits into the local competitive landscape. Demands and customer requests differ from country to country, and often selling points in the domestic market differentiate a lot from the market you are about to enter. Therefore, it is important to draw on your new distributor’s knowledge and, together, identify your customers.

 

In the Customer segmentation tool, you and your partner will divide your new customer base into groups with similar characteristics and traits. For b2b products, these traits include types of organization, size, etc.; for b2c products, consumer groups with similar interests, habits, demographic profiles, etc., are traits you want to categorize.

 

  • Select the products on which you and your partner will focus.
  • Discuss which type of local customers would value your product. Remember to challenge your assumptions about segments and ask the distributor if other types of customers could see value in the product. Often, product use and value can be very different in growth markets.
  • Discuss the basic characteristics of this group. For example, it’s important for you to know if there are ten private hospitals in the country or one hundred, or if the young urban segment is growing by 2 % or 20 % per year.
  • Once you have a good understanding of the range of potential customers, prioritizing these is equally important. Remember to challenge your partner; understand which segments your partner is best suited to target.