Needs based customer segmentation

Description:

The slide presents a model for "Needs Based Customer Segmentation," aimed at categorizing customers based on their purchase decisions influenced by price and non-price factors over time. The visual representation on the slide features a two-dimensional graph with the horizontal axis differentiating purchase decisions based on non-price factors from those primarily influenced by price. The vertical axis represents the directness of customer purchase decisions, ranging from indirect to direct decision-making influence.

Key elements of the slide include:

1. The title "Needs Based Customer Segmentation," indicates the focus of the model.
2. An annotation stating that the slide is editable to suit specific requirements.
3. Four quadrants labeled A to D, represent different customer segments within the market. These segments vary in terms of price sensitivity and decision-making directness.
4. Two text boxes on the right side offer insights into customer behavior. The top box suggests that customers who adopt later (likely corresponding to Quadrant D) tend to make decisions based on price, and businesses should target this segment with direct pricing strategies. The bottom box discusses early adopters (corresponding to segments A and B), highlighting that these customers, both direct and end customers, are less price-sensitive and make decisions based on non-price factors.

Use Cases:

The slide's flexibility and applicability extend to various industries. Here are seven industries and their specific use cases for this model:

1. Retail:

Use: Tailoring marketing strategies based on customer segmentation.

Presenter: Marketing Manager.

Audience: Sales and Marketing Team.

2. Consumer Electronics:

Use: Developing product pricing and promotional campaigns.

Presenter: Product Manager.

Audience: Marketing and Strategy Teams.

3. Automotive:

Use: Aligning sales approaches with customer purchasing behaviors.

Presenter: Sales Strategist.

Audience: Dealership Managers and Sales Staff.

4. Financial Services:

Use: Segmenting clients for personalized service offerings.

Presenter: Client Relationship Director.

Audience: Customer Service and Sales Representatives.

5. Real Estate:

Use: Crafting targeted sales pitches for properties.

Presenter: Real Estate Developer.

Audience: Real Estate Agents and Brokers.

6. Healthcare:

Use: Strategizing patient outreach and services based on needs.

Presenter: Healthcare Administrator.

Audience: Hospital Staff and Care Coordinators.

7. Travel and Tourism:

Use: Customizing travel packages and promotions.

Presenter: Marketing Director.

Audience: Travel Agents and Tour Operators.