Market segmentation

Service Description

Market segmentations have lately been one of the hard nuts to crack in dividing the market into product categories, such as a product’s function or price perhaps, or dividing the customer base into target demographics, such as age, gender, or income level. Some of the new frontiers are the use of latent class segmentation methods, these are methods that use probability/likelihood to predict the classification of a consumer to a certain group, based on patterns in multiple variables (such as attitudes and needs or buying behaviors. Case A large bank wanted to understand the impact of digital banking on their customer base, and average value per customer, and long-term impact on the business, while this looked like a typical research question, we applied latent class segmentation using the concept of core members to analyze not only the clients base but the market in general.