Embedding Segment-Based Insights with Marketing
 

Embedding Segment-Based Insights with Marketing

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Embedding Segment-Based Insights with Marketing Embedding Segment-Based Insights with Marketing Presentation Transcript

  • growth team m e m b e r s h i p™A three-page excerpt from our 16-page Best Practice Guidebook:Embedding Segment-Based Insightswithin MarketingThe contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved.
  • growth team m e m b e r s h i p™ 1 Best Practice Guidebook Embedding Segment-Based Insights within Marketing BP Challenge Solution INDUSTRY Energy BP’s Consumer Insights team* must ensure that a new The Consumer Insights team develops an end-to-end REVENUE (2011) global consumer segmentation study’s insights are process that uses segment-based insights to drive $386.45 billion USD incorporated into the company’s decision-making. marketing initiatives. Solution Components Applicability to Executive Functions Build a Solicit Conduct Brand the Prioritize Embed Segment Segmentation Stakeholder Segmentation Segmentation Segments » Attributes » Team » Input » Research » Study » R&D/ Innovation Corporate Sales Strategy Leadership Marketing Marketing CEO Corporate Development BP’s Key Lessons Learned Investors/ Market Market Finance Research Research • Establish a cross-functional advisory committee for the segmentation study that includes members from the Competitive Intelligence relevant branches of business. • Understand and account for the cultural differences that exist across or even within various countries, especially in their use of scales. People from certain parts of the world and certain ethnic groups tend to rate concepts and statements more highly than others (“high rater effect”), which can potentially tilt segmentation results. READ MORE » * The Consumer Insights team is a global market research team that oversees BP’s global segmentation efforts, brand health studies, consumer satisfaction tracking studies, and communications evaluation.The contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved.
  • growth team m e m b e r s h i p™ best practice guidebook 2 Contents Overview Page . . . . . . . . 3 HEADQUARTERSLondon, United Kingdom Build a Segmentation Team . 4 GEOGRAPHIC FOOTPRINT Global OWNERSHIP Public Solicit Stakeholder Input . . . 5 EMPLOYEES (2011) 83,400 Conduct Segmentation Research . . . . . . . . . . . 6 Prioritize Segments . . . . . 7 Brand the Business Results Resources Required Segmentation Study . . . . . 8 • Surpassed volume targets • Advisory committee Embed Segment Attributes . 9 • Increased market share • Executive sponsor (Global Retail Marketing Business Results . . . . . . .13 Head) • Increased fuel transactions Key Lessons Learned . . . . .14 • Three-member, full-time segmentation team • Strengthened consumer brand ratings • Market research vendor Supporting Tools & Resources . . . . . . . . .15 • Customized portal to host segmentation study results and all study-related documentation Agenda Excerpt from Global Marketing Team Workshop . . . . . 15 Country-Level Segmentation Decision-Making Process . . . . . . . . . . 16 Contact the Growth Team Membership™ (GTM) GTMresearch@frost.com www.gtm.frost.com twitter.com/Frost_GTMThe contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved. Source: BP; Growth Team Membership™ research.
  • growth team m e m b e r s h i p™ best practice guidebook 3 BP develops a process that uses segment-based insights to drive marketing initiatives End-to-End Segmentation Study Process study objective In 2006, BP’s Consumer Insights team embarks on a new segmentation study designed to pinpoint the drivers of consumer behavior, prioritize BP target segments, and provide consumer insights that help differentiate the BP brand from competitors. Conduct Build a Solicit Stakeholder Prioritize Brand the Embed Segment Segmentation Segmentation Team Input Segments Segmentation Study Attributes Research Objective Objective Objective Objective Objective Objective Assemble internal and Consider stakeholder Collect consumer data Identify and target the Generate awareness Instill in stakeholders external experts to feedback in determining most profitable and of the study objectives a deep understanding lead the segmentation the study design high-growth segments and results of segments’ defining study attributes Key Activities Key Activities Key Activities Key Activities Key Activities Key Activities • Select company • Identify and • Conduct qualitative • Group segment- • Brand the study • Develop an array specialists in project interview key segmentation based data by with a consistent of segment-based management, stakeholders research in 7 consumer behaviors, logo and template deliverables that methodology, and countries attitudes, values, for all related meet stakeholders’ communications • Conduct and needs communications varying needs as well as an quantitative • Prioritize the • Conduct country- experienced research in 15 highest value by-country segmentation countries segments interactive external vendor workshopsThe contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved. Source: BP; Growth Team Membership™ research.
  • growth team m e m b e r s h i p™ Please contact us to learn how to access the full Best Practice Guidebook or for information on Growth Team Membership.™ Email us GTMresearch@frost.com Visit us online www.gtm.frost.com Follow us on TwitterThe contents of these pages are copyright © 2012 Frost & Sullivan. All rights reserved.