Customer Analysis & Segmentation
“Customer” is what makes the business possible. In our view it is the most crucial component of any business and organization. Only customers can generate profit; products and operations generate costs. “Customer” is probably the scarcest asset of a company, also compared to capital, which can be borrowed rather easily and inexpensively.
Whether an organization is private or public, it must have a thorough understanding and insight into its customers needs and wants. This understanding may be obtained by means of systematic and continuous customer investigations, including structural and behavior characteristics. Such an understanding will constitute the foundation of the definition of socalled Key Buying Criteria (KBC), and Customer Segments.
KBC are typically some central criteria that motivate the buying decisions: e.g. price or quality.
Customer Segments are categories or classes of customers, and may be of various complementary types, such as Business Segments, Behavioral Segments, Operational Segments, Satisfaction Segments, Socio-Demographic Segments or Psycho-graphic. Business Segments describe the actual business value of a customer or a customer segment versus its potential value. Behavioral Segmentation will articulate the key behavior patterns relevant for the business, for instance time and place for buying product X.
Successful segmentation makes it possible to adjust offerings and operations towards defined segments. At Momentus Management Consulting we employ a mix of advanced qualitative and quantitative analytical methods, that are relevant for the given situation; yet it is important that the use of methods does not become an end in itself but a mean to reach needed results.
Momentus Management Consulting can support you in the formulation of customer strategies, aiming for a profitable acquisition and retention of your future customer base.
