Strategy Research Solutions Group
Strategy Research Solutions Group provides customized, strategic research and consulting services to clients looking for help with market segmentation, detailed product design and market simulation, pricing strategy, brand value, and in other strategic areas.
Market segmentation is the process of identifying customer or potential customer subgroups that respond or are expected to respond differently to marketing variables including product, price, place (distribution) and promotion. The term market segmentation has been closely linked with the term “target marketing.” However, there are important differences between the two. While market segmentation involves dividing the market into subgroups as noted above, target marketing is the process of identifying the most attractive market segmentations and designing marketing strategies to reach them. DSS has probably done more market segmentation work in the health care space, particularly health insurance, than any other research firm.
Conjoint Analysis / Discrete Choice
This growing family of techniques offers the only true quantitative approach to understanding what people will do in response to different product, service, and program offerings.
Health Insurance Exchanges
To maximize your opportunities under PPACA (health care reform), you need to understand what employers are likely to do and how your products will perform with consumers in the individual and small group health insurance exchanges.
Brand value, product design, pricing and risk-based segmentation all come into play within these exchanges. The objective is to get noticed amongst the wide array of competitive products, differentiate your offering on dimensions that are most relevant to the market and attract the best customers available.
DSS has conducted studies that attack each of these aspects independently and in unison to help our clients optimize their exchange strategies.
Virtual Insurance Market™
How your plan designs are presented to consumers can be more important than the specific benefits they contain. As carriers battle for the minds and wallets of consumers, the likelihood of being seen may be more dependent upon the decisions made by the insurance marketplace developers than the benefits being offered. DSS can help you find out what factors will help or hurt your products’ positioning and move you to the forefront in any comparisons.
Key Drivers of Satisfaction
With many highly correlated items influencing member satisfaction levels and likelihood to re-enroll, a key driver model is needed to quantify the contribution each item makes to overall satisfaction and to rank order these predictors from best to worst. DSS employs numerous approaches to identifying key drivers, depending upon the questionnaire used, the constituents surveyed, sample size and other factors. We frequently use average-over orderings approaches such as Kruskal's and Theils, a combination of factor analysis and regression and structural equation modeling along with many others. Regardless of the methodology employed, it is critical to present the results in a clear and meaningful way in order to be actionable for senior management and department managers who will be responsible for using the results to target changes within the organization.
DSS has worked with claims data on many occasions to create predictive models of health risks, to better understand product preferences in relation to health risks and to segment markets based on current and future risk levels. Predictive modeling involves identifying those demographic factors, behaviors, attitudes and characteristics that contribute to or best predict current and future health risks for individuals and populations in general. Using multi-year medical claims paired with third-party or primary research data, we are able to construct models that can categorize health risks for each individual and identify which unhealthy behaviors are most easily corrected or circumvented. When using third-party data, general models can be developed for application to new members and entire membership files with minimal effort.