Health product consumers demystified in new study
November 30, 2011 | Alicia Androich and Kristin Laird | Comments
Toronto agency Bensimon Byrne and research company The Gandalf Group have created a new segmentation model for their Consumerology reports that they hope will allow marketers to find areas for growth in new markets.
Over the last three years, the companies have jointly conducted 21,000 interviews and released 14 Consumerology reports on a range of topics from environment to the economy to retirement.
They have now used this three-year pool of data to segment Canadian consumers in ways that look beyond surface demographics.
Two key drivers were used to differentiate Canadian consumers: life goals (which affect what they buy and why) and economic orientation (which affects how they interact with the economy, are they optimistic or pessimistic, etc.). From there, three segments were identified: runners, walkers and spectators.
Runners put greater emphasis on material demonstrations of wealth, and are more positive about the economy than other segments. According to Bensimon Byrne, they make up 29% of Canadian consumers, are younger to middle aged and 60% are male. One-third are first-generation Canadians, 60% went to university, and 41% are from large urban areas.
Walkers’ priorities in life are centred around home and family, and they don’t aspire to achieve materialistic distinction. They focus on value, price and guarantee. They represent 47% of Canadian consumers, are middle aged to older and 60% are female. Very few are first-generation Canadians, 45% attended university and 23% are in large urban centres.
The last segment, Spectators, make up 24% of the Canadian population and are strongly focused on price and bargain. This segment is 60% male, 45% went to university, and 46% are in rural/small urban areas.
Bensimon Byrne and Gandalf have started applying this model to specific product categories. The research partners recently used it to study the health product category to better understand consumer consumption, perceptions and behaviours related to over-the-counter medications and health supplements.
Here are some examples of the latest Consumerology findings:
• 91% of female Runners use over-the-counter medication on a monthly basis
• 20% of Runners use OTC products to improve daily performance, compared to 8% of Walkers and 10% of Spectators
• 65% of make Runners use health supplements on a weekly basis