- The study identified five customer segments based on business focus and values.
- The segments did not agree with initial hypotheses and the client was able to tweak their final segmentation strategy.
The study indicated:
Five customer segments based on their business focus and values described as:
- Total Value Buyers
- Price Buyers
- Efficiency/Automation Buyers
- Quality Buyers
- “Keep It Easy” Buyers
The segments did not completely agree with the initial hypotheses, which resulted in “tweaking” the final segmentation strategy based on the research.
AMG Research conducted follow-up surveys with respondents to further validate the new segmentation strategy.
A major supplier of molecular diagnostic systems wanted to re-segment its target market. The market included medium and large volume hospital laboratories, reference labs, and public health facilities.
The research objective was to obtain customer information to segment the market based on customer behavior/motivation and what customers value. The key information to be obtained included demographics, what customers value, focus of their business (e.g., return on investment versus cost containment), and current product usage.
The goal was to develop a segmentation strategy based on the drivers for purchase behavior.
AMG Research conducted a web-based survey with 122 labs out of a target market of 450 labs. Both customers and non-customers were surveyed.
AMG Research utilized a research technique called Maximum-Difference Scaling (MaxDiff) via a web-based survey to understand the relative value of 17 different drivers in the purchase decision. The MaxDiff scaling exercise was able to better differentiate drivers that were truly important in the purchase decision. Additional questions were asked to better understand customer practices and behavior.
The factors were grouped into five value categories using cluster analysis. Using demographics and behavior practices, each of the segments were described and profiled.
A follow-up survey was also conducted to validate the segmentation strategy.