Segmentation in a Down Economy
Chadwick Martin Bailey's Brant Cruz has a great article in this month's Quirk's Magazine. “Don’t Give Up on That Segmentation Study, Do It Smarter”
A quick excerpt: "Stock market volatility. Consumer pessimism. Economic instability. Even though the U.S. presidential election is behind us, these are still very uncertain times. When it comes to custom research, the easiest thing to do is nothing. Wait it out. But for how long? And what will the opportunity cost be if you don’t begin the process now?
Obviously, we all need to be cognizant of economic factors when deciding when to launch any project. Any information can help, whether it’s external data or indications from your customers that their sentiments have stabilized - even if that stabilization is on the pessimistic side.
For segmentations in particular, which can be especially challenging during periods of extreme uncertainty, it’s important to at least begin the process for conducting the study. I have highlighted several major concerns below, with my thoughts on their validity and how to address or even overcome those challenges. "
You can read the whole thing at: http://www.quirks.com/articles/2007/20071006.aspx?searchID=25308568 if you have a free username and password. If you don’t have one, sign up its free and a pretty decent magazine as well (also free)!
A quick excerpt: "Stock market volatility. Consumer pessimism. Economic instability. Even though the U.S. presidential election is behind us, these are still very uncertain times. When it comes to custom research, the easiest thing to do is nothing. Wait it out. But for how long? And what will the opportunity cost be if you don’t begin the process now?
Obviously, we all need to be cognizant of economic factors when deciding when to launch any project. Any information can help, whether it’s external data or indications from your customers that their sentiments have stabilized - even if that stabilization is on the pessimistic side.
For segmentations in particular, which can be especially challenging during periods of extreme uncertainty, it’s important to at least begin the process for conducting the study. I have highlighted several major concerns below, with my thoughts on their validity and how to address or even overcome those challenges. "
You can read the whole thing at: http://www.quirks.com/articles/2007/20071006.aspx?searchID=25308568 if you have a free username and password. If you don’t have one, sign up its free and a pretty decent magazine as well (also free)!
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