Custom Market Research
The Phoenix Market Management Approach
- Understand what decisions need to be made
- Determine what data and information is required
- Select appropriate data collection methodologies
- Collect the data, appending additional external data to create a formal analytical view and information repository
- Develop and execute specific models to generate the required performance indicators
- Deliver the results and assist in interpretation and any implementation procedures
- Track results and return on investment
Segmentation and Targeting
- How do I identify who my most profitable customers are? Which prospects are most attractive?
To answer these questions, Phoenix uses advanced statistical techniques such as Latent Class and Bayesian techniques to uncover heterogeneity in consumer attitudes, preferences, behavior, and demographics. Through these techniques we can help you identify the most profitable/attractive segments for targeting.
Prospect Attraction and Customer Migration
- How do I convert a prospect to a customer? How do I migrate a high potential customer to a Most Valuable Customer?
To answer these questions, Phoenix has developed a proprietary Performance Model that:- Identifies Vulnerable Customers - those customers at risk of defecting - and where these 'at risk' consumers are likely to go.
- Diagnoses how you can reduce the size of the Vulnerable Customer Segment.
- Optimizes the number of customers fully committed to you.
- Identifies Available Prospects - customers of competitors which you have the potential to acquire.
Acquisition, Cross-Sell & Retention Modeling
- How do I prioritize my prospects based on potential to convert to a customer? How do I identify and rank order the right customers to cross-sell to?
To answer these questions, Phoenix uses state-of-the-art techniques to develop exceptionally accurate models that address your key objectives, e.g. new customer prospecting, cross-selling initiatives, customer retention, and at risk models.
Customer Satisfaction and Loyalty Driver Modeling
- What attributes of customer service are most important in retaining customers? Do these attributes differ by market segment? By delivery channel?
To address these issues, Phoenix uses sophisticated statistical models - including Path Analytic Techniques and Structural Equations Models - to determine the direct and indirect influences of various product and service performance attributes on Customer Loyalty and mediator variables such as Value, Reputation and Customer Satisfaction.
Market and Category Assessments
- How attractive is the category I compete in? What does my target market look like? How big is the market that my brand competes in? Who are the best customers in terms of profitability and predisposition to my brand? Who are the category leaders in terms of positioning and market share? Who am I really competing against?
Using quantitative research and modeling, Phoenix can give you a better understanding of your brand's marketing challenges. We will help you zero in on the prospects that are most available to you, and the customers that are most profitable to your bottom line. We will help you forecast and set sales and growth goals based on current market conditions.
Competitive Intelligence and Positioning Analysis
- What is happening in terms of product development, advertising, and promotions in my category? Which of my competitors should I watch? How am I priced relative to them, and how price elastic is the market?
By conducting primary and secondary research, Phoenix can give you the competitive intelligence you need to monitor your competitor's market behavior. Whether its price, promotions, or new product introductions, we give you a complete picture of the competitive landscape so you are knowledgeable and armed with the intelligence you need to win in this increasingly competitive business climate.
Cultural Insights into Tomorrow’s Mainstream
- What about the fact that America’s increasingly diverse population necessitates responsive changes in the marketing practices of US corporations?
Demographic changes over the last 40 years have profoundly altered the ethnic and cultural complexion of the United States and continue to unfold at a rapid pace. Census figures demonstrate that ethnic populations – primarily Latino, African American, and Asian American – are continually the fastest growing consumer markets in the country.
For the past 18 years, Phoenix has been at the forefront of tracking these changes throughout the nation. As a respected leader in ethnic marketing services, we have communicated our vision and provided strategic direction to over 200 blue chip clients – helping companies effectively reach high-potential customers in these emerging high-value market segments.
Metric Alignment
- How do I know that any customer data findings are consistent with internal operational data?
Phoenix assists clients in aligning metrics by reviewing all client data: customer surveys, focus groups, complaints, operational performance data and financial performance. Reports detail which customer measures are most important, how they relate to internal metrics, what gaps may exist, and what actions should be taken to close those gaps.
Phoenix offers end-to-end guidance to support current and future marketing decisions and strategies. We employ state-of-art research methods and advanced analytics to address a broad array of marketing issues. Every consulting engagement reflects a fundamental commitment to integration, objective measurement, clarity, and business results.
Our Custom Market Research includes:
- Exploratory Research: surfacing new ideas which will be developed into specific concepts
- Ethnography: our unique approach to tracking a "day in the life" of the target audience.
- MindMapping™: our trademarked method which employs pictures and music to surface deep emotional insights into the target audience's perceptions of a category, brand or specific topic.
- Concept Screening:testing a battery of concepts surfaced during the Exploratory Research phase
- Qualitative Screening: a new method of prioritizing concepts for further quantitative analysis.
- Quantitative Screening: our fast feedback analysis which provides on-site quantitative research results within a 1-2 hour session.
- Product & Program Features, Pricing and Messages Tradeoffs and Forecasts: developing sound revenue forecasts associated with different elements of the marketing mix, using Advanced Analytics.
- The Phoenix List Op scoring process is patent pending and results in a direct marketing list of the highest propensity buyers from which to mail / call. Descriptive demographic, attitudinal and financial behavior information is also provided.
- Database Classification Models
Phoenix uses CART, MARS, Mixed and Nested Logit Models, Bayesian methods, Nearest Neighbor Models and hybrid modeling techniques to develop exceptionally accurate models that can be utilized to meet your key objectives, e.g. new customer prospecting, cross-selling initiatives, customer retention, and at-risk-models. - Advanced Segmentation Techniques
Phoenix uses Latent Class and Bayesian techniques to uncover heterogeneity in consumer attitudes, preferences, behavior, and demographics. Through these techniques we can help you identify the most profitable and attractive segments for targeting. - Marketing and Media Mix Models
Phoenix deploys sophisticated Econometric and Time Series Techniques such as ARIMA and PDL Models to derive the impact of each element of the marketing or media mix. - Choice Modeling
Our Marketing Science Team designs and analyzes Discrete Choice Experiments and Menu-based Models to quantify the impact of varying features, pricing and brand equity on consumer choice behavior at the individual level. Phoenix also uses Maximum Difference Scaling to assess relative importance of numerous attributes as well as the magnitude of differences in importance between attributes. - Product Line Optimization
Phoenix uses TURF and Bundle Optimization Analysis to determine the line of products that will maximize consumer appeal (reach) with the fewest varieties offered and also measure the incremental value to overall reach of each variant tested. - Brand and Customer Equity Driver Analysis
Phoenix uses Path Analytic Techniques, Structural Equations Models, and Linear and Nonlinear Regression Techniques to determine the influence of various attribute on Brand Equity and Customer Loyalty. - Perceptual Maps
Understand how consumers perceive you in the marketplace relative to your competitors. Phoenix will apply the right mapping technique — Multi-dimensional Scaling, Correspondence Analysis, Canonical Discriminant Analysis, and or Quadrant Analysis — for your specific needs.
- Program Tracking and ROI: tracking the performance of the new product or program once it has launched and matching performance against forecasts.
- Pilot Market Testing & Tracking
- Multi-Market Test and Control Tracking
- Customized Performance Tracking
| Market Research Divisions | Opportunities | Hot Topics |
|---|---|---|
| Advertising & Brand Analytics Division | track and quantify the effect of "live advertising" across multiple categories | consumer reactions to brands and advertisements |
| Affluent Marketing Service | track trends and attitudes of the affluent market | ...large brokers continue to dominate market for serving affluent |
| Automotive Division | appeal, purchase clusters, web browsing patters | Concept X | Consumer Insights Division | new product development and analysis, customer satisfaction, buying decision assessment and brand segmentation | ...Walmart and Best Buy are the preferred retailers when it comes to electronic gaming purchases |
| Credit Card Portfolio Tracking & Analysis | view data on a quarterly basis regarding consumer use of credit cards satisfaction with cards and issuers as well as brand and marketing awareness | credit card holders’ attitudes and preferences |
| Cultural Access Group | Unmatched ethnic and cultural expertise about the new mainstream markets | ...Hispanics are 33% more likely to buy toys than non-Hispanics |
| ESP Consulting | Consumer Business Payments Research | Check 21, The Future of Technology |
| List Optimization Division | find the highest propensity buyers to mail/call | ListOp is patent pending |
| Travel & Leisure Division | Electronic Gaming SCORES™, Hotel SCORES™, Hotel BASE™ | ...more men than women are happy with their marriages |