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jerryking : customer_segmentation   20

Fighting fires with data: How killing the long-form census hurt community planning - The Globe and Mail
JOE FRIESEN - DEMOGRAPHICS REPORTER
The Globe and Mail
Published Wednesday, May. 14 2014

Most people use the company’s data in conjunction with a mapping tool and segmentation analysis, which sorts the population into lifestyle categories such as “Middleburg Managers” and “Young Digerati,” to better understand their habits and tastes. A library, for example, found that despite having a large population of senior citizens, programs advertised to “seniors” were a bust. Having looked more closely at their income and lifestyle data, they targeted the same group as “mature adults” and had much more success.

“Often, the real power is in the melding of the data. They know things about their users, but not their neighbourhood, then they marry them,” said Doug Norris, chief demographer at Environics Analytics.

Robert Dalgleish, an executive director at the United Church of Canada, is eagerly awaiting new data sorted down to the DA level. He said more than 500 local congregations in the church use this kind of data to better understand the areas they inhabit. One puzz-ling finding was that for every identified member of the United Church in a congregation, there are nine others living within a few kilometres who never attend a service.

“The data doesn’t give us answers, but it gives us really good questions,” Mr. Dalgleish said. “It really allows congregations to drill down into their communities.”
Joe_Friesen  demographic_changes  data  mapping  local  data_melding  neighbourhoods  market_segmentation  analytics  churches  Statistics_Canada  firefighting  Environs  customer_segmentation 
june 2014 by jerryking
Using CRM Data to Segment Customers: How It Helps Sell More
April 2014 | Inside CRM |David Gillman.

Classifying the prospects is more difficult. Automated systems help. With many characteristics of current customers in the CRM database, statistical processes run over the customer master file to find key characteristics of customers in each group. Those characteristics are then back-applied to the prospect list. Some common differentiating fields might be company size, number of contacts, age of the first record, location, and source of the lead, and similar data fields that may be common in the CRM database.
CRM  market_segmentation  howto  data  customer_segmentation 
may 2014 by jerryking
Competitive Analysis for Competitive Advantage
(Charles Waud & WaudWare)
Who are my relevant competitors?
What are the criteria to determine customer value creation?
What are the priorities for competition?
Compared to the leading competitors, how do we look on each criterion?
On which criteria are we better?
On which criteria are they better?
How can we better position ourselves on our "strong" criteria?
How can we improve the customer's perception of our "weak" criteria?
Where should we allocate resources?
Where will future changes come from in my competitor's strategies?
On what key customer "value criteria" will they change?
How can we anticipate these changes and "reposition" our strategy most effectively?
Ivey  frameworks  competitive_advantage  market_segmentation  Five_Forces_model  value_chains  competitive_strategy  strategy  products  product_strategy  competitive_intelligence  experiece_curves  cost_analysis  comparative_advantage  customer_segmentation 
december 2012 by jerryking
Consumer Segments in Urban and Suburban Farmers Markets
Volume 13, Issue 2, 2010| International Food and Agribusiness Management Review | by Gabriel Elepua and Michael A. Mazzoccob
farmers'_markets  market_segmentation  agriculture  agribusiness  urban  suburban  customer_segmentation 
october 2012 by jerryking
How You Slice It Smarter Segmentation for Your Sales Force
March 2004 | HBR | by Ernest Waaser, Marshall Dahneke,Michael Pekkarinen, and Michael Weissel.

Medical-equipment supplier Hill-Rom accelerated its growth by segmenting customers in a new way and tackling their most pressing problems.
market_segmentation  HBR  medical_devices  sales_teams  customer_segmentation 
july 2012 by jerryking
Bottom-Feeding from Blockbuster Businesses
March 2003 | Harvard Business Review | David Rosenblum, Doug Tomlinson, and Larry Scott.

Unprofitable customers are the pariahs of the business world. Marketing experts encourage companies to analyze the economics of their customer portfolios and ruthlessly weed out buyer segments that don’t generate attractive returns. Loyalty experts stress the necessity of aiming retention programs at the “good” customers—the profitable ones, that is—and encouraging the “bad” ones to buy from competitors. And customer-relationship-management software provides ever more sophisticated means for identifying poorly performing customers and culling them from the ranks.

On the surface, the movement to banish unprofitable customers seems eminently reasonable—what company, after all, can afford to waste precious resources courting and serving customers that don’t provide any payback? But writing off a customer relationship simply because it is momentarily unprofitable is at best rash and at worst counterproductive. Customers are scarce, and every one should be approached as a potential asset. Executives shouldn’t be asking themselves, How can we shun unprofitable customers? They need to ask, How can we make money from the customers that everyone else is shunning?

When you look at apparently unattractive segments through this lens, you often see what others are blind to: opportunities to serve those segments in ways that fundamentally change customer economics.
HBR  business_models  underserved  Bottom_of_the_Pyramid  blockbusters  overlooked_opportunities  customer_segmentation  customer_profiling 
june 2012 by jerryking
What Customers Want
JULY 7, 2003 | Fortune | by Larry Seiden and Geoff Colvin
To increase overall profitability, smart companies retain and
grow their most profitable customers and acquire more of them.
They fix, close, or sell their least profitable customers. And they
organize in a nontraditional way, around customer segments...
A winning value proposition is the one that best meets the full
set of customer needs, including price. That is, certain critical
elements of the experience deliver on the customers’ most important
needs better than the competition. This creates differentiation
and the potential for superior customer profitability—a mutually beneficial value exchange. Your goal is to create mutually beneficial value exchanges with customer segments that offer the greatest economic profit potential. Creating, communicating, and executing competitively dominant value propositions that earn exceptional customer profitability involves a sixstep process we’ve identified at leading companies and dubbed value proposition management.

Step 1: Figure out the needs
of your most profitable customers
Step 2: Get creative
Step 3: Test and verify your hypotheses
Step 4: Tell customers how great
your value propositions are
Step 5: Apply the best value
propositions on a large scale
Step 6: Begin anew.
customers  customer_acquisition  customer_experience  customer_lifetime_value  customer_profitability  customer_segmentation  Dell  Geoff_Colvin  Michael_McDerment  mutually_beneficial  RBC  value_propositions 
april 2012 by jerryking
Cash Cows: Burger Joints Call Them 'Heavy Users' -- but Not to Their Faces
January 12, 2000 | THE WALL STREET JOURNAL | By JENNIFER ORDONEZ

The heavy user accounts for only one of five fast-food patrons -- but about 60% of all
visits to fast-food restaurants. By this definition, the heavy user accounted for roughly $66 billion of the
$110 billion the National Restaurant Association says was spent on fast food last year in the U.S.
Definitions of the heavy user vary, but by any measurement, Mr. Sheridan stands out. He spends as
much as $40 a day at fast-food restaurants. He sometimes visits them more than 20 times a month -- a
qualifying number for heavy-user status, according to a survey done by marketing firm Porter Novelli....Unlike frequent fliers and preferred shoppers, heavy users get little in the way of special treatment or
freebies. At fast-food restaurants, they stand in the same lines as everyone else, indistinguishable from
light users.
fast-food  hamburgers  McDonald's  Burger_King  KFC  customer_segmentation  cash_cows  disproportionality 
october 2011 by jerryking
Seth's Blog: The circles (no more strangers)
Posted by Seth Godin on May 17, 2010

Consider this hierarchy: Strangers, Friends, Listeners, Customers,
Sneezers, Fans and True Fans. One true fan is worth perhaps 10,000 times
as much as a stranger. And yet if you're in search of strangers, odds
are you're going to mistreat a true fan in order to seduce yet another
stranger who probably won't reward you much.
Seth_Godin  customer_loyalty  segmentation  market_segmentation  marketing  superfans  customer_segmentation 
june 2010 by jerryking
Luxury Institute Segments Wealthy Consumer Market;
Marketer-friendly Format of Fed Data Provides Actionable
Insights for Banks, Brokers, Realtors, Luxury Goods Firms, Travel
Providers, Wealth Managers, and More
Business Wire. New York: Jun 8, 2006. pg. 1
ProQuest  luxury  high_net_worth  market_segmentation  data  travel  customer_segmentation 
march 2010 by jerryking
Too many pots
Sept. 2003 | Profit. | by Rick Spence. Abel and Cain fell
into a common trap: targeting the broadest market possible. By trying to
please too many people at once, they were unable to make deep
connections with customers and event sponsors. Sure, their potential
market was huge, but as Abel admits, "We weren't providing enough
value." Niche markets pay better than mass markets; it's a classic
entrepreneurial lesson, but one that many people learn the hard way. If
one were starting a beverage company today, find the niches Pepsi and
Coke don't own - as Cott Corp. did with bargain-priced house brands.
Unlike the markets Cain and Abel had previously wooed, the people who
attended these events had pressing information and self-development
needs, and were willing to pay for events that fulfilled those needs.
"Specializing opened up markets that we could never reach before," says
Abel. "There turns out to be no shortage of niche markets. The closer
you look, the more you see."
ProQuest  Rick_Spence  entrepreneur  market_segmentation  specialization  targeting  lessons_learned  partnerships  value_propositions  niches  Pepsi  Cott  Coca-Cola  customer_segmentation  mass_markets  emotional_connections  market_intelligence  private_information 
february 2010 by jerryking
Introduction: Customer Focus - HBR.org
May 2007 | HBR | Customers are the real employer—the people
who fund our paychecks, the only guarantors of our jobs. Because the
customer’s power is very real, the dynamics of business drive everything
toward commoditization. As surely as springtime melts snowbanks,
markets erode profits. A company can respond to melting margins in one
of four ways. It can surrender, giving up differentiation and competing
on efficiency and cost. It can consolidate power by buying its rivals,
figuring that the biggest snowbanks survive longest. It can innovate,
leaving behind the commoditized old and making money from that which is
still fresh and profitable. Or it can differentiate not just its
offerings but its approach to customers as well: It can cleverly define
segments of customers and sell only to those for whom it can create
especially valuable offerings or work with individual customers to
combine its products and services into unique packages, often described
as “solutions.”
HBR  customer_focus  commoditization  customer_centricity  consolidation  innovation  differentiation  bespoke  personalization  customer_segmentation  value_propositions  solutions  solution-finders  packagers 
october 2009 by jerryking
Creating A Killer Product
10.13.03 | Forbes Magazine | by Clayton M. Christensen & Michael E. Raynor.

Three in five new-product-development efforts are scuttled before they ever reach the market. Of the ones that do see the light of day, 40% never become profitable and simply disappear.

Most of these failures are predictable--and avoidable. Why? Because most managers trying to come up with new products don't properly consider the circumstances in which customers find themselves when making purchasing decisions. Or as marketing expert Theodore Levitt once told his M.B.A. students at Harvard: "People don't want to buy a quarter-inch drill. They want a quarter-inch hole." ...Managers need to segment their markets to mirror the way their customers experience life--and not base decisions on irrelevant data that focus on customer attributes. Managers need to realize that customers, in effect, "hire" products to do specific "jobs."...Why not put in tiny chunks of real fruit to add a dimension of unpredictability and anticipation--attacking the boredom factor. A thicker shake would last longer. A self-service shake machine that could be operated with a prepaid card would get customers in and out fast.

Improvements like this would succeed in building sales--but not by capturing milk shake sales from competing quick-service chains or by cannibalizing other products on its menu. Rather, the growth would come by taking business from products in other categories that customers sometimes employed, with limited satisfaction, to get their particular jobs done. And perhaps more important, the products would find new growth among "nonconsumers." Competing with nonconsumption often offers the biggest source of growth in a world of one-size-fits-all products. ...One option would be for RIM to believe its market is structured by product categories, as in: "We compete in handheld wireless devices." WRONG!!!!!!!!!!!!!...But what if RIM structured the segments of this market according to the jobs that people are trying to get done? Just from watching people who pull out their BlackBerrys, it seems to us that most of them are hiring it to help them be productive in small snippets of time that otherwise would be wasted, like reading e-mails while waiting in line at airports....Features that do not help customers do the job that they hire the BlackBerry for wouldn't be viewed as improvements at all. ...Brands are, at the beginning, hollow words into which marketers stuff meaning. If a brand's meaning is positioned on a job to be done, then when the job arises in a customer's life, he or she will remember the brand and hire the product. Customers pay significant premiums for brands that do a job well.
Clayton_Christensen  Michael_Raynor  Innosight  prepaid  innovation  market_segmentation  customer_experience  arms_race  branding  product_development  education  Colleges_&_Universities  Theodore_Levitt  disruption  new_products  customer_segmentation  observations  nonconsumption  hiring-a-product-to-do-a-specific-job  one-size-fits-all  BlackBerry 
september 2009 by jerryking
Finding the Right Job For Your Product
Spring 2007 | MIT Sloan Management Review | by Clayton M.
Christensen, Scott D. Anthony, Gerald Berstell and Denise Nitterhouse.
What is the "job" the product is being hired to do? Segment according to
this.
market_segmentation  Clayton_Christensen  hiring-a-product-to-do-a-specific-job  Innosight  innovation  Scott_Anthony  ProQuest  customer_segmentation 
august 2009 by jerryking

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