Upload
pavan-soni
View
45
Download
3
Embed Size (px)
Citation preview
Personas, Market Sizing and Segmentation
Pavan Soni
Innovation Evangelist and Researcher
www.pavansoni.com
Topics covered
• Innovation starts with Discovery
• Consumer versus customers
• Segmentation, targeting, and positioning
• Market research techniques
• Product targeting and positioning
• Conjoint analysis
• Buyer personas
Marketing: Broad perspective
4Source: Brian K. McCarthy
Segmentation Targeting Positioning
5Source: http://www.consumerpsychologist.com/cb_Segmentation.html
Customer segmentation logic
Dividing market into specific homogenous clusters
✓Name (indicative of objective)
✓Needs/ wants (wish to address)
✓Characteristics (demographics/ geographic)
✓Value proposition offered (for your customer)
✓Goals (for your firm)
6
▪ Demographics (age, race, religion, gender, family size, ethnicity, income, education level),
▪ Geography (where they live and work),
▪ Psychographic (social class, lifestyle and personality characteristics) and
▪ Behavioral (spending, consumption, usage and desired benefits
Market research techniques
7Source: http://www.mymarketresearchmethods.com/an-overview-of-market-research-methods/
Conjoint analysis (for New Product Development)
9
Conjoint analysis aims to find the optimum positioning between low-price-low-quality and high-price-high-quality in terms of price and features by quantifying the trade-offs and compromises customers take in decision making.
Buyer personas Buyer personas are fictional, generalized representations of your ideal customers.
13
✓Demographics✓Roles and positions✓Day in life scenario✓Pain points✓Values and goals✓Information sources ✓Expected experience ✓Overcoming
objections/ queries
NameJob TitleCompany SizeRole
Demographics• Age:•Gender:• Salary:• Location:• Education:• Family:
Goals & Challenges• Primary Goal:• Secondary Goal:• How We Help:• Primary Challenge:• Secondary Challenge:• How We Help:
Values & Fears• Primary Values:• Primary Fears of Doing Business With You:• How We Help:• Primary Challenge:• Secondary Challenge:• How We Help:
Hobbies/Interests•Hobby:•Hobby:• Interest:• Interest:
Source: https://crazyeyemarketing.com/blog/how-to-develop-a-marketing-persona-when-you-dont-know-where-to-start/
Buyer personas (template)
In a B2B context (product design)Elements of personas
• Persona Group (i.e. web manager)
• Fictional name
• Job titles and major responsibilities
• Demographics such as age, education, ethnicity, and family status
• The goals and tasks they are trying to complete using the site
• Their physical, social, and technological environment
• A quote that sums up what matters most to the persona as it relates to your site
• Casual pictures representing that user group
15
References (1/2)
• How to Create Detailed Buyer Personas for Your Business• The Complete, Actionable Guide to Marketing Personas• Building Perfect Personas• Creating personas• Customer Segmentation & Why it Matters• Segmentation, Targeting, and Positioning• Segmentation strategies • An Overview of Market Research Methods• Primer on Conjoint analysis• Software of Conjoint Analysis
19
References (2/2)
• Market Research Techniques
• Marketing: Segmentation and Targeting (Video)
20