The conversion model: A strategic market segmentation system based on customer commitment and potential to change
Technical Report
·
OSTI ID:102709
- Market Facts, Inc., Arlington Heights, IL (United States)
Deregulation of utilities will require providers of electric power to put the issue of competition at the top of their strategic planning agenda. The companies that will flourish in this new competitive environment are those that have strongly committed customers and potential to grow. {open_quotes}Commitment{close_quotes} is the complex psychological bond between a customer and a brand (or choice); it is critical to measure because it is the foundation of loyalty and brand equity. The Conversion Model is an established, validated strategic research tool that measures customer commitment and potential to change. It was designed to help marketers devise strategies to strengthen the commitment of current customers and to acquire new customers. The Model helps companies protect and grow their businesss by first quantifying the commitment of current customers and the potential to convert competitors` customers. Further, the Model provides managers with actionable insights about the demographic, behavioral and attitudinal factors that characterize customers who are secure in their commitment, those who are vulnerable to being lost, the non-customers who can be won over and those who are unavailable.
- Research Organization:
- Electric Power Research Inst., Palo Alto, CA (United States); Synergic Resources Corp., Bala-Cynwyd, PA (United States)
- OSTI ID:
- 102709
- Report Number(s):
- EPRI-TR--104558
- Country of Publication:
- United States
- Language:
- English
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