Strategy Analytics announces new perspectives on consumer adoption behaviors affecting tech market potential and growth developed in China, the US, and UK.
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Figure 1. Strategy Analytics New Actionable Tech Buyer Segments (Graphic: Business Wire)
“Strategy Analytics’ tech clients often use demographic or stage-of-life segmentation approaches and have complained that the approaches are not actionable. Our new research has succeeded in identifying underlying behavioral patterns important to tech product adoption using consumer attitudes and perceptions. These patterns form the basis for a new reference segmentation Strategy Analytics will be using for analysis going forward.“ said Harvey Cohen, President, Strategy Analytics.
Joy Ganvik, Vice President, Consumer Insights Practice, noted “Consumers demonstrate clear patterns associated with technology as a lifestyle and framework for living that affect adoption propensity and willingness to pay within these segments. These latent needs and associated multi-dimensional analysis will define buyer behaviors for products including EV’s, 5G services, Autonomous Vehicles, Smartphones, and Video Services.”
The segments are:
- 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.
Strategy Analytics will be publishing a series of reports with deep-dives into six topics within this research covering Electric Vehicles, Autonomous Vehicles, 5G services, Smartphone Replacement, Video Entertainment, and the Residential Worker” said Harvey Cohen.
A complimentary copy of the first report “Improving Success in New Consumer Technology Product Marketing – Identifying Target Segments can be downloaded here (https://marketing.strategyanalytics.com/IdentifyingTargetSegments)
About Strategy Analytics
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.