Group 1: Budget Focused
Group 2: Spenders
Group 3: Focused on Now
Group 4: Future Planners
Segmenting customers is an important strategy in marketing that allows businesses to tailor their products or services to specific groups. For instance, an insight could be that one group of customers is particularly price-sensitive.
Therefore, businesses could offer discounts or cheaper alternatives to this segment to cater to their needs. Another group might value high-quality, premium offerings, so businesses could focus on promoting their high-end products to this group.
Ultimately, by identifying shared characteristics among customers, businesses can develop more effective marketing strategies tailored to each segment's preferences and behaviors.