The marketing strategists of our international client are always looking for new markets, customers and distribution channels. Within the scope of the strategic analyses, they identified a potentially highly interesting segment in the German market – but the knowledge of the opportunities and risks in this area was not detailed enough to be able to make a decision with far-reaching implications. Too little was known about customer and consumer behaviour in this sub-market, information about the position of the competition was not accurate enough and the prospects of success of specific market entry strategies were too unclear . For this reason, the lifestyle brand engaged us to design and conduct a corresponding target group study .
insidery implemented the study design, representative for the target segment with a total of over 5,000 participants, in several online panels. The intelligent sampling and quota management of the target group survey ensured a high degree of data quality. Within only one week all required quotas were filled and the analyses were ready to start. A key component of this was the typologization of the segment into potential buyers, rejecters, trialists and indecisive participants – including an intuitive description of the respective characteristics of these types.
In addition, insidery provided insights into the consumer behavior, their loyalty to the competition and the attractiveness of marketing strategies. Using suitable statistical methods, the strength of the potential customer relationship was also modelled and depicted in an easily understandable way using indices. Insights must follow a clear guiding principle, especially when a large amount of important information is involved. In order to meet our client’s need to share the results and its conclusions directly, long-term and objectively within the company, insidery produced not only a report but also a concise video, which leads through selected topline results and conclusions.
The project provided our stakeholders with a very clear picture of the potential market segment as well as the competitive environment and served them with the relevant insights and background information for a go-to-market strategy. The results were incorporated into the strategic template for the management so the executives could make decisions based on all relevant facts and figures – and already know beforehand what will be crucial when entering the market.
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