Using segmentation insights to sell energy products to the mass market. Final report
- Hagler Bailly Consulting, Inc., Madison, WI (United States)
Energy services companies face a future in which their marketing and sales functions will become more critical. Technology sales to mass market customers will be one of the ways in which retail energy service providers will be able to directly generate incremental revenue, increase the demand for their core product (electricity), and enhance customer loyalty. But selling energy products to the mass market can be difficult. Great products do not always win, and implementation (i.e., how providers approach the market) is at least half the game. One of the tools available to technology marketers is market segmentation. Segmentation methods can help by dividing large markets into groups of potential customers characterized in terms of how likely they would be to buy new products, and further subdivided according to the factors that influence their decision to buy or not buy. By understanding and targeting these groups differentially, marketing efficiency is enhanced, as is the likelihood of success of a given sales program. Ultimately, however, while market segmentation methods are potentially powerful, they are also notoriously difficult to use. This report summarizes the segmentation options available to energy product marketers, and provides a summary analysis of the relative advantages and disadvantages of commonly used options.
- Research Organization:
- Electric Power Research Inst., Palo Alto, CA (United States); Hagler Bailly Consulting, Inc., Madison, WI (United States)
- Sponsoring Organization:
- Electric Power Research Inst., Palo Alto, CA (United States)
- OSTI ID:
- 355076
- Report Number(s):
- EPRI-TR--111895
- Country of Publication:
- United States
- Language:
- English
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