Kannon’s objective is not to study the market, but help grow markets. We look for actionable client solutions, whether that means developing new capabilities or revitalizing existing ones.
- Clients come to Kannon when they:
- Face market share uncertainty
- Consider new investment opportunities
- Confront new and/or growing competitive threats
- Need a point of differentiation in the marketplace
- Want to redefine core products and channels
- Seek a marketplace-driven process for allocating resources
- Lack the mechanism to read and react to marketing changes
- Foresee pending legislation or technology that will restructure their industry and competition
One of the cornerstones of many growth strategies is customer segmentation.
Customer segmentation is the starting point for a prioritization process that identifies which customers to target and offers a blueprint for a more focused portfolio of associated products, services, and sales channels for meeting their needs most profitably.
Segments can be defined by a range of variables, including demographics, lifestage or lifestyle, and product usage. Business-to-business segments can be based on such variables as SIC codes, annual purchase volumes, etc. The goal is to select attributes, or drivers, that are relevant to particular customers, products, organizations or initiatives.
However, perhaps the best way to segment the market, either consumer or business, is by attitudes and needs. In that way, an effective marketing strategy would aim at serving customer needs and wants better than competitors do.
Once priority market segments have been identified, typically based on the segments’ overall attractiveness in the market and the client’s competitive positioning within the segments, the company’s current products, as well as new concepts and products already under development, are aligned across the segments based on current or potential usage.