What we do

 

Customer Segmentation

What was the issue?

A large international manufacturer of patient monitors had seen their share price drop in the last few years. One of the reasons given to justify this decrease was the fact the company had a monolithic type of sales behaviour and had not changed the sales message for the last 20 years. Management was aware that the customer was a big unknown and needed to understand if the traditional sales segmentation of small, medium and large hospital still resonated with the market.

How did we do it?

We constructed an online study using MaxDiff and cluster analysis as analytical tools to strive to identify the purchase drives as per type of customer, putting emphasis not only on tangible attributes but trying to understand the emotional response to tangible and non tangible drivers.

What was the result?

The research showed that purchasing and decision making followed emotional patterns which could be identify in all centres from small hospitals to large ones. The market was segmented in 5 different personality types of customer which would respond to different needs and sales messages.

Sales force was trained to identify which type of motivation would fuel the best response and pitch their sales accordingly.

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