Type of Approach | Segmentation Criteria |
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Geographic | nations, states, regions, cities, neighborhoods, zip codes, etc. |
Demographic | age, gender, family size, income, occupation, education, religion, ethnicity, and nationality |
Psychographic | lifestyle, personality, attitudes, and social class |
Behavioral | user status, purchase occasion, loyalty, readiness to buy |
Decision maker | decision-making role (purchaser, influencer, etc.) |
Identifying Problems, Objectives, and Questions | |
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Core business problem Dan needs to solve | How to get more people to spend more money at Bookends |
Research objectives | 1) Identify promising target audiences for Bookends; 2) Identify strategies for rapidly increasing revenue from these target audiences |
Initial research questions | Who are Bookends’ current customers? How much do they spend? Why do they come to Bookends? What do they wish Bookends offered? Who isn’t coming to Bookends, and why? |
Identifying Data Types, Timing and Budget, Data Collection Methods, Analysis, and Interpretation | |
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Types of data needed | 1) Demographics and attitudes of current Bookends customers; 2) current customers’ spending patterns; 3) metro area demographics (to determine types of people who aren’t coming to the store) |
Timing & budget | Complete project within 1 month; no out-of-pocket spending |
Data collection methods | 1) Current customer survey using free online survey tool, 2) store sales data mapped to customer survey results, 3) free U.S. census data on metro-area demographics, 4) 8–10 intercept (“man on the street”) interviews with non-customers |
Analysis plan | Use Excel or Google Sheets to tabulate data; Marina (statistician cousin) to assist in identifying data patterns that could become market segments |
Interpretation and reporting | You and Dan will work together to comb through the data and see what insights it produces. You’ll use PowerPoint to create a report that lays out significant results, key findings, and recommendations. |