Project: Customer Segmentation and Purchasing Behavior Analysis
As part of a comprehensive market analysis project, I led an investigation into customer segmentation and purchasing behavior within the snacks industry. By leveraging data analytics techniques, I identified key customer segments and their corresponding purchasing patterns to drive strategic decision-making. The project encompassed:
Segment Identification: Through data mining and segmentation analysis, I identified three primary customer segments with significant sales contributions: "Older Families - Budget," "Young Singles/Couples - Mainstream," and "Retirees - Mainstream."
Purchasing Behavior Insights: I uncovered valuable insights into purchasing behavior, including frequency of purchases and preferred product attributes such as pack size and brand preference. Notably, "Older Families" and "Young Families" emerged as segments with higher purchase frequencies.
Marketing Strategy Recommendations: Based on the analysis, I proposed targeted marketing strategies to capitalize on the identified segments. Recommendations included personalized offers for high-frequency segments, health-focused marketing for "Young Singles/Couples," and pricing strategies tailored to customer preferences.
Brand Promotion and Inventory Optimization: The analysis revealed opportunities for brand promotion, particularly for the popular "Kettle" brand chips, and optimization of inventory based on prevalent pack sizes (175g and 150g).
This project culminated in actionable insights and recommendations aimed at enhancing sales performance and customer satisfaction within the snacks market. By implementing these strategies, businesses can effectively target key customer segments and maximize revenue potential.