What They Say
Strategy Analytics, still my least favourite international technology analyst company, have, nevertheless, published a new segmentation concept on how consumers are now buying and has defined the following segments:
- Aspiring Techno (21%) – A younger demographic who love the technology lifestyle, identify with tech products, and are often early adopter but balance adoption with economic realities and social disruption concerns.
- Practical Individualists (22%) – A mature, confident, and well-established group who will use tech products for the benefits they deliver but are not excited by the tech lifestyle or materialism in general.
- Cautious Followers (16%) – A group that enjoys aspects of the tech lifestyle, appreciates product quality, but has ongoing concerns about economic and social uncertainty that make them later adopters.
- Reserved Traditionalists (23%) – The oldest group with lower incomes and lowest interest in the tech lifestyle and values. This group tends to be the latest adopter with significant price sensitivity.
- Confident Embracers (19%) – A group with classic early adopter behaviors and who fully embrace the tech lifestyle values. A younger, economically strong group confident about the future and the good life through technology.
The first in a number of reports is available for download here. SA plans to apply the segmentation to its analysis of the smartphone market, among others.
What We Think
When I was a full-time marketeer, segmentation was a topic I spent a good amount of time on. I have long believed that creative and thoughtful segmentation was a key element in developing robust and successful marketing strategies. The SA segments look quite close to the classic innovator, early adopter, early majority, late majority and laggard segments used in classic product life cycle models.
One element that I like about the SA analysis is that it recognises the big difference in the way that markets break down on a regional basis. (BR)
