Segmentation or cluster analysis is a crucial technique in marketing that divides a group of diverse people or companies into smaller, more homogenous segments based on various characteristics and criteria. Segmentation analysis aims to understand better and target specific customer groups. Through segmentation, businesses can tailor their products, services, and marketing strategies to meet each segment's unique needs and preferences. At boobook, we use various analytical segmentation methods, such as latent class clustering, Hierarchical Bayes clustering, Cluster Ensemble, K-means, etc. The data, as well as the required outcome, drive method choice. Apart from choosing the most potent methodology, we also pay a lot of attention to ensuring the segments can be tackled by various business teams, a challenge which many segmentation exercises fail upon.
At boobook, our core values shape our culture and drive our approach to solving complex business problems. These values are the foundation of our success and define who we are as a team.
The path to purchase encompasses the entire journey from recognizing a need to using the acquired product, and through market research, we identify key triggers and touchpoints to inform our marketing and commercial strategies.
This pricing method presents customers with varying price points for a product and asks their willingness to purchase, resulting in a demand curve that identifies optimal pricing for maximizing sales, revenue, and profit.
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