News & Announcements
FOR IMMEDIATE RELEASE
Copernicus Introduces World's First Market Segmentation Audit
January 25, 2010 (Boston, MA)—Copernicus Marketing Consulting and Research announces the world’s first market segmentation audit.
This timely consulting service thoroughly examines a company’s or brand’s market segmentation and target selection processes to help marketers understand the strengths and weaknesses of their current practices. The Copernicus marketing segmentation audit uses a comprehensive evaluation tool covering 12 dimensions, 80 factors, and nearly 300 different measurements so marketers can pinpoint trouble spots to salvage an existing strategy or make future efforts more relevant and useful.
According to Kevin Clancy, Chairman of Copernicus, “more often than not, even after a heavy investment of time and resources, marketers can’t make heads or tails out of the results of a market segmentation exercise when it comes to selecting which group or group of buyers to prioritize or, very importantly, figuring out how to market to them.”
“While their most recent market segmentation produced some interesting customer segments, CEOs and CMOs complain that they just can’t figure out how to use it to make a decision,” he says.
Explains Peter Krieg, CEO of Copernicus, “marketers will save themselves a lot of time, money, and mental energy if they figure out what’s good and bad about the market segmentation they’ve got and get a better understanding of how they got there.”
The Copernicus audit service examines a market segmentation in terms of 12 critical dimensions including:
- Customer/segment profitability
- Overall research design
- Positioning and advertising strategy
- Media planning
- New product development
- Marketing plan implementation
Following a thorough review of marketing plans and marketing research, and interviews with marketing and brand management, each dimension receives a score from “0” (a practice that requires a major overhaul) to 100 (a world-class best practice). Marketers can see the averaged score for each dimension and for the market segmentation and target selection approach overall.
Henry Gamse, Copernicus’ resident market segmentation guru, maintains “a market segmentation audit will pay for itself many times over if marketers can use results to change the habits that have rendered segmentation research useless in the past. Doing a market segmentation audit before going ahead with the next study will ensure that the fruits of your labors do a whole lot more than take up space on your bookshelf.”
For more information on how to audit your market segmentation and targeting practices, tune in to a free upcoming webcast given by Kevin Clancy on Tuesday, February 9, at 1 pm. You can register at http://www.copernicusmarketing.com/consult/webcasts.shtml.
Copernicus has had direct involvement with more than 300 market segmentation exercises for B2B and B2C companies around the world. The firms used two decades-worth of marketing study and consulting practice; the opinions of leading marketing academics such as Phil Kotler and a cross-section of CMOs and marketing research directors; and a comprehensive review of existing literature on best practices to develop the elements of its market segmentation audit.
Read the complete release for more information at http://www.prweb.com/releases/2010/02/prweb3532174.htm
For more information, contact:
Ami Bowen
(617) 449-4179 or ami.bowen@copernicusmarketing.com