Question: Is the process for segmenting the market for toothpaste the same as the process for segmenting the market for payroll services?
At a very, very high level, the answer is yes. In both cases, the researcher has to clarify project goals (why are we doing the segmentation and how will it be used), design the methodology, generate hypotheses, gather data, analyze data, create the segmentation model, name the segments, and create deliverables.
But that’s a pretty high level.
Once we embark on the reality of progressing through those research steps, we quickly realize that B2B segmentation studies are very different than consumer ones (see free video link below). Here are two out of the many reasons why:
- B2B studies often have “hard to find” populations. Finding people who are authentic, qualified and willing to participate in research can be very challenging for many B2B studies. This can restrict our methodology and data analysis options.
- B2B studies have to address a nuanced combination of a person’s attitudes and a company’s policies. For example, a company employee (and decision maker) may have specific brand preferences or product desires. But company policies and purchasing processes may conflict with those. Without careful attention to such dualities, the research could deliver results that are out of touch with the brutal realities of how money is spent.
Segmenting a B2B market is very different than segmenting a consumer market. And frankly, can be much harder. This is why, in the Research Rockstar segmentation class, we include both consumer and B2B examples. Other organizations offering segmentation training focus on consumer markets.
Want a pure “B2B only” focus? Our segmentation class can be booked as a private training session; in these cases, we modify the examples and demonstrations to your areas of interest. To inquire about private group training, please contact Sales@ResearchRockstar.com or call 508.691.6004 ext 701. Private training fees start at $1,200, and vary by group size.
Click here to watch a free video on the special challenges of B2B segmentation.
Join us at Camp Rockstar, a summer camp for market researchers! Our Market Segmentation class is one of eight classes being held at summer camp this year! All classes are taught live, in a virtual classroom by camp counselors Kathryn Korostoff, Jeffrey Henning, and special guests.