Segment sizing and forecasting is a laborious task, as is finding basic data for product development plans. Now there is a quick and easy way to establish current and future product demand by volume and value, per capita consumption, usership and usage for a specific demographic, lifestyle and attitudinal consumer segments that saves both time and money. It furthers industry efforts to identify the most profitable consumer segments for both current and new products.
Says Jennings, "The strength of the SSPM is the speed and flexibility of its current and forecasted volume and value segment sizing functionality and the fact that the total brand or category forecasts it generates are built up from different rates of growth in key segments. To this end, it assists marketers in their evaluation of the relative ROI of targeting various consumer segments; in determining how much to allocate to targeting those segments; and in estimating future product Volumes and Values, PCC, Usership and Usage"
It achieves this by facilitating a quick estimate of the value and volume size of specified products of various key demographic and psychographic segments - as determined by the user - and their potential change in the future. The forecasts are executed by projecting a continuation of the trends that have actually taken place over the last four to five years in each of the segments. It also indicates what is driving the changes in each of those segments. Population dynamics are incorporated and are based on the latest projections from the international company IHS.
The regular industry financed AMPS surveys are the current source, as coverage is national and incorporates most categories, brands and demographics as well as 80 attitudinal statements. Besides national sample coverage, AMPS also has the advantage of both personal and household perspective functionality.
The model can easily be adapted to use other sources such as Homescan , TGI or Marketers own Continuous Tracking or regular Habits Studies
SSPM Output is in easy-to-read, trended format and shows Consumer Segment Volume, Value, PCC, Usership and Usage. Projections are presented in individual years for the next 10 years and can easily be modified by the user. To simplify reports, users can decide which specific years and exactly how many years they want to see.
It can be used for any category/brand. It is currently operational for FMCG but could be adapted for readership/media, motor, appliances, financial or retail. It could be used for other African countries provided AMPS has been used for at least four years in that country.
For more information, contact Ross Jennings on 0126674807, 0828011615 or moc.liamg@tlusnocjssor
