Segmentation is a fundamental topic in marketing strategy. Appreciation of its importance has continuously grown since the 1950s. Segmentation is crucial to targeting messages, fitting preferences of different consumer groups, or creating other types of differentiated programmes. In consumer marketing, segmentation may be based on demographics, perceptions and attitudes (mental constructs more generally), and behavioural… Read More
Ambivalent Times for Watches
The global market for watches is fluctuating amid shifts in macroeconomic conditions, technological developments, and thereof adaptive changes in consumer preferences. This situation seems to put under strain particularly the Swiss watch industry. The compromising situation for the Swiss watchmakers has been evolving for some time now, at least since 2015, affecting the revenues from… Read More
Conjoint and MaxDiff: Choice-Based Methods for Measuring Consumer Preferences
Choice-Based Conjoint and MaxDiff (i.e., Maximum Difference, also known as Best-Worst scaling) are advanced methods for measuring and estimating consumer preferences by means of choice experiments and discrete choice models. Conjoint Analysis is a veteran methodology, initiated in the early 1970s, for measuring multi-attribute consumer preferences, based on ranking order or rating evaluations of product… Read More
Let Segmentation Go Deeper
Consumers may differ in their demographics, lifestyles and personality, tastes and preferences, attitudes and behaviour. Consequently, a couple of consumers who differ on any of these characteristics may experience differently the same event or activity, service episode or product usage (e.g., by the thoughts and conclusions, feelings and emotions the experience evokes in each consumer).… Read More
Designing Customer Experiences Around Personas
When mapping customer journeys, it would help to design and direct them with regard to personas of customers, ‘profile’ concepts of plausible types of customers that seem real and approachable. Having the image of a customer before one’s eyes with human traits, background, attitudes and preferences, can make it easier to plan and prepare for… Read More
Consumer / Shopper / Customer Behaviour 