Overview of Fast Food Restaurants in the US
Despite the weakening global economy and growing awareness of health risks, the fast food industry has managed to flourish. The rise in globalization and urbanization has hugely impacted the lifestyle of the consumers as they are heavily reliant on healthy fast food restaurants for quick and easy meal options. Additionally, individuals today are seeking inexpensive and fast breakfasts from healthy fast food restaurants. An upsurge in population and the subsequent urbanization is important in terms of market growth as it would give fast food restaurants the scope for growth and market expansion.
Importance of Customer Segmentation
A powerful customer segmentation strategy is a fundamental aspect that helps build strong marketing initiatives for products and services. It is defined as the process of segmenting customers into homogenous groups based on their choices; thus, helping in addressing issues through specific marketing strategies.
The importance of customer segmentation lies in the fact that it allows businesses to reach out to end-users with specific requirements.
Types of Customer Segmentation
In order to enhance personalization across all channels and achieve a better customer understanding, you need to assure that you’re incorporating these three types of customer segmentation into every marketing campaign.
- Demographic segmentation
- Geographic segmentation
- Lifecycle segmentation
Request a free proposal to gain in-depth insights into the scope of customer segmentation for the fast food industry.
About the Client
The client is a leading fast food restaurant with retail units spread across 17 countries. The healthy fast food restaurant client is based out of the United States.
The client, a leading player in the fast food industry in the U.S, was looking to gain a detailed understanding of the different consumer personas so as to ramp up their marketing initiatives.
The client wanted to achieve the following goals:
- Identify market segments with the greatest profit potential.
- Distinguish market segments based on their interest in value-added services.
- Understand different customer personas.
As a result, the client approached Quantzig to better understand the importance of customer segmentation in analyzing consumer behavior and preferences with regards to their product portfolio.
Want to know more about the importance of customer segmentation for fast food restaurants? Speak with our analytics experts today.
The customer analytics experts at Quantzig conducted a comprehensive market survey to analyze the underlying factors influencing the client’s market growth. By doing so, the fast food restaurant was able to prioritize their product development initiatives with the corresponding roadmaps that were produced based on the approved market segments. Furthermore, understanding customer behavior with respect to their offerings presented them with an edge while generating personalized marketing initiatives for each target market.