Copernicus Introduces World's First Market Segmentation Audit

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Marketers often hope doing market segmentation research will help them make better marketing decisions. Yet very often, when the results come in, the segments don't offer the kind of guidance marketers need. Rather than just do another segmentation, auditing your market segmentation practices for strengths and weaknesses can help break the cycle of segmentation frustration.

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.

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 market 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 groups 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 market segmentation audit 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 segmentation guru maintains "a market segmentation audit will pay for itself many times over if marketers can use results to guide important marketing decisions. 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 getting more from your market segmentation research, download the free ebook, "Yes You Can! Get More Out of Segmentation Research" or contact Chuck Sakany at (772) 234-6604 or chuck.sakany@copernicusmarketing.com.

Kevin Clancy will also give a free webcast on how to do a market segmentation audit on February 9 at 1 pm. 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 firm used two decades-worth of marketing study and consulting practice, the opinions of leading marketing academics such as Phil Kotler along with 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.

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