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Market Segmentation

FeaturesMethodologyProfilesReports Order

A market potential analysis may include:

  • A customer profile to understand where to find more customers like your existing ones live
  • Market penetration and market share reports showing performance in existing markets and expected performance in new markets as well as expected totals for each type of profile
  • Market ranking reports allowing you to prioritize resource deployment into new markets

Marketing Questions that Segmentation Answers:

  • Who are my customers - use the My Addresses
  • Where do people like my customers live - use Find People
  • How many people are in my target market in a given location - use Area Profiles
  • What kind of people live in the area around my store - use Address Profiles
  • Are my customers more like A or B - use My Address and then compare the results for two different segments
  • Are the customers who buy product 1 different from my customers who buy product 2 - use My Address and run the lists for customers who buy product 1 separately from those who buy product 2 and compare the results
  • I want to enter a new market what images should I put on my marketing pieces - use Area Profile to get a sense of who lives in this area and then use their images on the promotional materials

There are lots of ways of representing data that make it easier to use and understand. Here are three approaches that are easily run from Spectrum - the pie chart, bar chart and spreadsheet. In all three cases you can see that most people in zip code 08816 are on the upper end of the income scale - breaking into fourths with the bottom two income levels together equally the smallest 1/4 , the next 1/4 is Middle class, and then the top half are upper middle class and upper class - where Upper Class is the largest of the quarters.



Zip Code Low Income Lower Middle Class Middle Class Upper Middle Class Upper Class
08816 1262 1833 3171 3171 4610


        

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