A company might make a lot of sales. Advertising could be well received. And customers seem to be happy.
But the marketplace can be a brutal place if you are negligent. Even when you are doing well today, you cannot take your brand and your customers for granted. New products enter the market all the time, building their brand awareness, and then pushing old brands to the side. There are many examples of how brands compete in the market, exploring opportunities in neglected segments, making the right strategy, and using their positions in niche markets to build up a strong challenge to the market leaders.
Your business could do better by digging further, asking questions like: Who are the most loyal customers? Where are they located? What are their characteristics? Is it possible to cross-sell your other products?
Analyzing your market segments can go a long way to improve your bottom line and to maintain your market position.
Our online platform and community of respondents make answering those questions easier. Our technology is designed to make sure that companies can understand the demographics of their customers better.