Align FSC's Market Segmentation Approach to Strategic Marketing Planning
In a highly competitive market it is nearly impossible to build and maintain share by trying to be "all things to all people."
Align FSC clients open their doors to everyone, but they focus on carefully chosen target segments where they can develop sustainable competitive advantages.
The cornerstone of Align FSC's approach is identifying attractive customer segments and prioritizing resources to improve the profitability of households served.
| | We utilize a time-proven methodology combining primary and secondary
research with our proprietary geo-demographic model . This approach allows us to determine the size, growth rate and marginal contribution potential of segments in the client’s market. Blending this quantitative approach with our professionals' assessment of the client's capabilities provides the perspective necessary to set priorities. Once the priorities are established, we define the integrated offering required to create exceptional value and move market share for those priority groups. |
6-Step Process
Align FSC's approach to segmentation is a six-step process which can be tailored to a specific institution's management philosophy, unique market characteristics and particular customer base.
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The 6 Steps to Market Segmentation
- Defining the basis for segmentation
- Describing the behavior of the segments
- Profiling the market and the customer base
- Performing financial analysis
- Prioritizing the segments
- Developing strategy and executing
The methodology progresses through the major steps of determining the basis for segmentation, sizing the market, determining the financial contribution of each of the segments, ranking the segments according to appeal to the financial institution, and applying the segmentation strategy to the various marketing mix variables (product development, pricing, promotion planning, and delivery system design).
Click here to Download our "Quick Hit" Market Segmentation Framework Product Profile