20/20 Segmentation – New Product & Market Accelerator Strategies Workshop
This customized hands-on workshop works with your team and their market knowledge to applying QDI’s segmentation and value management tools to accelerate your segmentation planning. We capture and structure your team’s market knowledge to identify segment opportunities, knowledge gaps and the key actions to gain consensus towards a segment strategy.
Why clients ask for the 20/20 Market Segmentation New Product & Market Accelerator Workshop:
- Aggressive goals, tight timelines and insufficient existing clarity of understanding
- New product management / sales / marketing teams and the need to form a cohesive working group quickly – using the same tools and concepts to communicate about issues and opportunities
- Already considering growth opportunities, but need to jump-start the planning effort and to focus resources on the strategy, knowledge gaps and delivery of results
What clients get from the 20/20 Market Segmentation New Product & Market Accelerator Workshop
- A jump start to your most critical strategic issues to attack
- Get a fresh understanding of your market…..
- Get a fresh perspective on your customers
- Target the best opportunities
- Team members learn a common marketing segmentation framework
- They apply QDI’s tools to your business in a customized workshop with your marketing team to your markets
- They work with QDI’s consultants who coach your team on the use of QDI’s Value Management Process and Tools to create actionable strategies for your business
- Using your own data
- Customized workshop to your own segment and strategy issues
- Pre-plan using a workbook designed for your team members that organizes what they know prior to the workshop
- Full-day workshop that focuses on creating new insights for your business
- Identify potential segment strategies for growth and what you have to do to validate them
What the 20/20 Market Segmentation program entails:
- Pre-planning – a day with QDI consults to collect data about your information and fine tune the workshop for you
- Workshop homework to guarantee full attendee involvement and usefulness of the results
- QDI will develop planning assignments for your team – based on the pre-planning done with your management team
- Your staff will prepare materials for the workshop
Workshop findings report, including key findings, next steps, and potential work streams, and review of this via conference call.
Who should attend—a product team – product managers, sales, market and product development. (6-10 people) – best to focus on one portion of the business – because the conversations are very specific, targeted based on what knowledge you bring to the workshop.
20/20 Market Segmentation Course Learning Objectives
- Understand the concept of Structural Segmentation and how to use it to answer the question of whether a company should serve various markets or segments of the market
- Understand the concept of needs or Behavioral Based Segmentation and how to use it to define a segment and the value proposition and offering to each segment of a market
- Understand the concept of Sales Effectiveness Segmentation and how to create screening processes that target sales and marketing efforts for greater sales effectiveness (capturing a greater percent of the value of an offering) / efficiency (reducing sales cost as a percent of sales).
Exercises in the workshop (Modified based on your needs)
Assess the existing Structural Segmentation
- Market definition (usually starting with a product category and a defined customer segment)
- Segment Exploration – your customers – competitors’ customers – no-one’s customers
- Market flow analysis
- Buyer / OEM / Channel analysis
- End – user analysis
- Porter Analysis of the Buyer’s/Channel’s businesses
- Market flow analysis
- Create a needs / Behavioral Segmentation
- Understand customer(s) experience
- Identify / categorize needs
- Segment customers into needs-based groups
- Create and apply a Sales Effectiveness Segmentation
- Define segment-based targeting criteria
- Clarify sales stages and account development strategies for sales effectiveness
- Clarify message / value proposition for the segment
Agenda (Modified based on your needs)
Segmentation Overview
- Create or capture more value – growing revenue and reducing costs
- Sales / Marketing Process for creating and capturing value
- Value Management
- 3 Levels of Segmentation
- Structural – which markets to serve
- Needs/Behavioral – what products and services to offer
- Sales Effectiveness – how to target customers
Case Studies
- Fuel efficiency truck tire
- Marine engine sercice
- Delivery truck
- Engineered Valves
Structural Segmentation
- Tools for deciding to play
- Core Market Segmentation
- Market Flow
- Buyer’s / OEM / Channel Strategy
- End-users Strategy
- Market Dynamics (Porter’s Five Forces)
- Review of homework / exercise to define a (or test the existing) Structural Segmentation
- Selection of a market / level for needs segmentation
Needs / Behavioral Segmentation
- Tools
- Value Model
- Life Cycle Assessment
- Expectations, Attitudes, and Beliefs Model
- Life Cycle of product / service interactions
- Clusters / Buckets of Needs / Value / Behavioral Based Segments
- Test of a Quality Segmentation
- Review the homework
- Market definition for the Exercise
- Applying the tools to create customer groups
- Bucket / Cluster customer needs into segments
- Segmentation Quality Test
- Assessing the confidence in this segmentation
- Using the segmentation
- Value proposition by segment
- Aligning offer, sales, marketing by segment
- Organizational thoughts
Sales Effectiveness Segmentaiton
- How to use Sales Effectiveness Segmentation
- Review the homework / Exercise: Creating a Sales Effectiveness Segmentation to improve targeting
Summary
- Using the segmentations
- Using the tools to create segmentations that drive value creation and capture
- Next Steps