Solutions - Market Segmentation & Persona Development

Segmentation of the Premium Exercise Equipment Market

The Challenge

A premium exercise equipment brand had conduced a segmentation with Lux early in their journey. However, so much time had passed that they wanted to conduct a segmentation refresh, especially as the market had changed so much since the original. The market now had more established brands and products in the market, increased awareness in the category, and changes to technology and the nature of exercise options.

The Solution

Lux conducted IDIs followed by an online survey. Interviews allowed us to gain a foundational understanding of the current market and landscape before diving into the main Segmentation online survey and help us revise and adjust the attributes list prior to designing the quantitative survey. After the results of the quant phase have been discussed, an additional ODB provided greater color to enhance the understanding of the brand’s revised segmentation.

The Outcome

At the end of the segmentation research, the brand received a segmentation typing tool, along with a PPT deliverable and presentation that helped determine differentiating attitudes, behaviors and lifestyle approaches for the different segments created through the k-means cluster segmentation analysis, explore potential channels to connect with target segments through marketing and communications and understand how established segments fit withinthe brand’s purchase journey.

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