Solutions
Consumer Segmentation - Market Segmentation
Age Group: 25-30, Gender: Male
Education: Graduate
Profession: IT, Salaried
Income: 10-12 lakh per annum
Age Group: 25-30, Gender: Female
Education: Graduate
Family Status: Married
Part time job (Salaried)
Are these really homogeneous target audiences?
Even among same income, age group and professional background, they are different consumers with different purchase behaviour
People are different - two consumers at the same age, with the same income and professional background, will make different decisions on products to buy and services to avail.
Who will drive for the same price the second-hand luxury brand automobile rather than a brand new middle-class sedan?
Who will buy higher priced clothing items fewer times, because they last long rather than purchasing many, cheaper and trendy items?
Who will go for a 'less risky' Fixed Deposit investment than be inclined to sail with higher returns on waves of (calculated) market risks?
Consumer Lifestyle Affinity (or psychographic segmentation) decodes the psychological aspects influencing consumer purchase behaviour such as attitudes towards expenditures, products and services that a person values to spend money for, the opinions and perception of brands and different types of products.
A brand positioning or campaign that excites the second group might completely bore the first group – and the other way around. If you really want to influence people, you need to know what drives them.
MMS.IND uses data experiences of more than 80 different collection touch-points - transaction-based data, household survey, and qualitative market research data in AI-driven calculations to cluster people by similar product/brand purchase behaviour into 12 major lifestyle classes. Here the summary, high-level description for two groups:
U1 – ESTABLISHED URBAN ELITE
“The world is our playground”
Wealthy, educated families. Attended (inter)national leading educational institutes. Accustomed to international luxury and quality standards.
Global mind-set.
Sophisticated orientations in style and taste.
Self-confident. Individual, liberal attitudes. Financially secure.
Highly brand conscious. Shop for status, not for price.
Memberships in selected Private Clubs. Outdoor dining, exquisite restaurants.
U4 – CONSERVATIVE URBAN MIDDLE CLASS
“Don’t take risks and cherish what you have”
Focusing on safeguarding their achievements.
Seeking a pleasant and sheltered life without risks and extremes. Eager on social relations with their community and neighbourhood society. Celebrating festivals with great enthusiasm. Predominantly mainstream Indian college education. Typically upper-class salaried jobs. Critically comparing prices and services.
National brands and values meet their spending consciousness.
KARMA - Enhancement of INDIVIDUALS by consumer profile
Karma is explained in different ways: Karma is the law of cause and effect. Karma is action, whether physical or mental, and each action has a consequence. Karma in simple words "is getting what you give" or reaping what you sow.
Knowing a consumer’s spend capacities, orientations and product preferences, supports sales managers to gain a better understanding of his / her expectations, what best to offer.
We have called our consumer profiling service 'Karma' for the reason that actions to understand your customers and prospects better will in return increase their loyalty, and result in more connected customers being satisfied with your products and services.
The MMS.IND Master Universe of Indian Consumer database contains high-precision socio-economic and lifestyle profiles of Indian consumers: Monthly income, psychographic segmentation and additional consumer propensities in more than 18 spend categories: Automobile // Insurance & Investment // Loans (Personal, Home, Automobile) // Consumer Goods // Health Insurance // Home Interior // Personal accessories // White Goods & Brown Goods // Electronic Consumer Goods // Real Estate // Apparel // Food // Travel and more.
Examples:
Example of individual consumer-level enrichment
geomarketeer - the Consumer data market dialog platform
What is Geomarketeer?
Geomarketeer is a granular market segmentation analysis tool. It supports companies in India with geo-location based intelligence, using micro-market focused data and tools to sustainably grow their business. By delivering this information on Software as a Service (Saas) platform, Geomarketeer allows organisations of any size to quickly get started with market research and data backed insights.
By subscribing to the platform, marketeers can sit in the office and understand every nook and corner of the country:
- Visualise, analyse and understand relationships on micro-segmented geographies by market potential and profile of your customers in them
- Experience patterns and trends in India consumers and their geographical relation.
- Easy-to-use Online System
- Subscription to geographies you need
- 'Private Room' - Users create their own private access login: No third party involved for analytics, or having access to user‘s data space
- Data queries in real time
- Uploading Data: Analytics networking company own and external market data.
- Generate location reports
