Understanding the market within which you compete is a critical foundation for business success.
At CoreData, we provide a range of services aimed at helping you develop a more detailed and nuanced picture of your target market and the relative position you hold within that market.
Whether you’re interested in better understanding the broader market characteristics, benchmarking yourself against key competitors or tracking the performance of an entire market at an aggregate level, CoreData will help.
Market Segmentation
Segmenting your target market to identify naturally occurring ‘tribes’ means you walk away with a more focused company, higher profitability and stronger growth over the long term.
Using multivariate analysis techniques such as cluster analysis, we are able to develop advanced market segmentation systems that reveal tribes with divergent characteristics.
The differences in behavior and perspective among these tribes needs to be understood intimately – which means that an effective segmentation model ultimately needs to transcend its fundamental algorithmic mechanics and actually come to life.
At CoreData, we’ll help you establish these diverse groups so you are able to gain a deep understanding of your market, focus the development of your product and service and develop effective retention strategies.
Performance Benchmarking
Knowing what your clients think about you is essential. But in today’s competitive market understanding how you are positioned against the competition is just as important.
Our performance benchmarking provides you with two key reference points against which to measure yourself: those you compete with for business and the broader market in which you operate.
CoreData has the skills and experience to highlight your relative position in the market over time by reliably benchmarking you against your peers across key product or service metrics and identifying opportunities for improvement. Examples include service level experience of clients, product performance comparisons and functionality analytics.
Market Indexations
While our performance benchmarking services tell you how, as a business, you are positioned in the market, our market indexations tracks the performance of an entire market at an aggregate level.
Our market indices allow you to benchmark particular consumer behavioral traits and attitudes over time, helping you monitor the changing sentiment or financial health of the broader market.
While these changes may have strategic implications for your business, the indices can also be used to start a conversation with your clients and prospects or generate debate in the media about evolving consumer sentiment and circumstances.