“They can now plug their own segment definitions into NPD data to understand both the “what” and “why” of each segment’s purchase behavior." says George Terhanian, president, solutions for NPD.
Chicago, Illinois (PRWEB) November 17, 2015
The NPD Group, a leading provider of global market information, announced it is introducing a new analytic service that integrates clients’ consumer segmentation schemes with the sales and market share “data of record” in every industry and country in which NPD offers survey-based consumer tracking services. NPD will also offer primary research to clients that would like to develop entirely new segmentation schemes. This is the latest addition to NPD’s expanding portfolio of solutions that leverage its unique data assets to help manufacturers and retailers understand and optimize performance.
The new service will enable clients to view industry sales and market share at the category and brand level for each of their consumer segments. By revealing who is buying, what they are buying, where they are buying, and more, the service enhances the value of segmentation as a basis for guiding decision making across multiple functions including marketing, sales, insights, and product development.
“Our clients recognize that good business strategy requires them to divide the market into segments, to learn all they can about consumers in the most appealing ones, and to then develop products, services and marketing strategies that resonate,” said George Terhanian, President, Solutions for NPD. “They can now plug their own segment definitions into NPD data to understand both the “what” and “why” of each segment’s purchase behavior. They’ll know immediately how effective they are at reaching and appealing to key segments.”
NPD’s growing store of consumer tracking data provide sales and market share information, as well as the context and motivations underlying all purchase decisions, in 16 industries in the Americas, Europe, and APAC. NPD also offers a wide range of custom research services, including advertising testing and tracking, choice studies, positioning research, pricing optimization studies, concept testing, and pre-market sales forecasting–all of which can incorporate its clients’ consumer segmentation schemes.
About The NPD Group, Inc.
The NPD Group provides market information and analytic solutions that drive better decision-making and better results. The world’s leading brands rely on us to help them get the right products in the right places for the right people. Practice areas include apparel, appliances, automotive, beauty, consumer electronics, diamonds, e-commerce, entertainment, fashion accessories, food consumption, foodservice, footwear, home, mobile, office supplies, retail, sports, technology, toys, video games, and watches / jewelry. For more information, visit npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup.