Target Market Segmentation Helped Boost Profitability and Reduce Marketing Spend for a Retail Company – Download Infiniti’s FREE Resource to Know How
LONDON--(BUSINESS WIRE)--May 28, 2019--
Infiniti Research, a market intelligence solutions provider, has recently announced the completion of their latest free downloadable article on how target market segmentation helped a retail company to successfully drive profitability. The article provides detailed insights into the approach undertaken by the experts at Infiniti Research to boost profitability for a retail company. This downloadable resource also highlights how the target market segmentation analysis helps companies in the retail industry to reduce marketing spend and customer churn rate.
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How target market segmentation helped a retail company drive profitability (Graphic: Business Wire)
Pricing pressure, investment volatility, and customer experience management issues have increased challenges for the companies in the retail industry. Also, the ongoing transformations have changed the way major retail companies engage with their customers. Therefore, it becomes imperative for retail companies to reinvent their traditional marketing strategies and incorporate new approaches to target customer segments. With over 15 years of expertise in offering target market segmentation solution, Infiniti Research has helped many retail giants to effectively target the customer base, assess customers’ changing behaviors, and gain a leading edge in the market.
With rapid changes in market dynamics, target market segmentation analysis has become imperative for businesses to choose the right channel to reach the target customer base and attain a wider understanding of the company’s target markets. Request a free brochure to gain more insights into our services portfolio.
The business challenge : The client is a retail company, serving throughout the Midwestern United States. The client’s unstructured approach to product marketing resulted in huge losses for the company, leading to wastage of 13% of their overall marketing budget. Also, the client was facing difficulties in competitively pricing their existing and new products. With Infiniti’s target market segmentation analysis, they wanted to optimize their marketing spend and target the right customer segment. Moreover, they wanted to understand the right channel for their product promotions.
According to the experts at Infiniti Research, “By understanding customer needs and evaluating competitors, businesses can identify gaps in their products and services offerings.”
Assessing changes in customer expectations and making constant changes in marketing initiatives is important for businesses to stay competitive in the retail market. Request a free proposal to know how our target market segmentation engagement will help your company to effectively manage your marketing strategies.
The solution offered: The experts at Infiniti Research followed a 4-phased approach to target market segmentation. The approach involved behavioral, demographic, psychological, and geographical segmentation process. With Infiniti’s target market segmentation solution, the client was able to effectively segment customers with similar characteristics together. This helped them to personalize the advertising initiatives to better engage with their customers. The client was also able to enhance the customer experience and reduce churn rate by 11%.
Infiniti’s target market segmentation analysis helped the client to:
- Deliver an effective value proposition, which enticed customers to their brand
- Concentrate on online distribution channels, which was preferred more by retail customers in the Midwestern United States.
- Wondering how your business can benefit from our target market segmentation analysis? Request more information from our experts!
Infiniti’s target market segmentation analysis offered predictive insights on:
- Identifying the right marketing channel to engage with customers
- Achieving cost savings and fine-tuning advertising strategies
- Interested in achieving high growth for your business? Get in touch with us to know how our target market segmentation analysis can help.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us
View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005271/en/
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SOURCE: Infiniti Research
Copyright Business Wire 2019.
PUB: 05/28/2019 05:06 AM/DISC: 05/28/2019 05:06 AM