ANALYTICS
ICM were approached by a major player in the home improvement market to update their market segmentation. Their segmentation was over three years old and there had been substantial market change during that period.
ICM’s solution was to deliver a detailed questionnaire to our NewVista panellists, and thereby interview 3000 recent buyers of home improvement products. A factor analysis was then applied to the output, the results of which were used as an input for a cluster analysis.
These advanced analysis techniques enabled ICM to resegment the home improvement market. We were then able to determine the relative value of each segment and understand the key drivers and barriers to choice by segment.
The outcome was that our client used the segmentation to help shape the corporate strategic plan for the next three years.
