Detailed Market Research Can Help Dealers Plan Growth - Tire Review Magazine

Detailed Market Research Can Help Dealers Plan Growth

Ever wondered what customers really think of your business or tire brands? Or what drives their tire buying decision? Or where your true growth and profitability opportunities lie?

Now you can find that out – and so much more – with MetroScan, a highly detailed study of both national and local markets produced by well-known industry research firm Marketplace Insights.

In a new marketing and sales partnership, Tire Review has joined forces with Marketplace Insights to broaden the reach of the research offering to tire dealers and tire companies across North America. Marketplace Insights provides the data used by Tire Review each month in its Business Barometer feature.

Marketplace Insights has offered the proprietary research service to the tire industry for several years, and is now expanding its sales and marketing efforts in partnership with Tire Review. Dozens of tiremakers and dealers have relied on MetroScan studies to uncover needed market intelligence, test brand awareness and image efforts, address pricing issues, explore untapped markets, consider distribution channel mix, enhance customer loyalty initiatives, examine new product or service opportunities and examine their competition.

More specifically, tire dealers can benefit from MetroScan by learning:
• If they are connecting with active tire buyers and current customers
• If their advertising/promotion investment is working
• What consumers want from their tire/service store
• How the tire brands and services offered are resonating with active buyers
• How consumers “see” a dealer’s store – and the competition
• How a dealer should adjust product and marketing strategies
• Where a dealer stands in terms of awareness, market share, customer satisfaction and opportunities
• What specific actions can be taken to improve results and enhance growth opportunities

To uncover this information, Marketplace Insights conducts live surveys of recent tire buyers in 30-plus major markets across the U.S. (Canadian markets can be added by request). Those surveyed are asked about their specific buying experience, how they prepared for it, how they view various tire brands and retailers, whether they feel they received value for the price paid, their awareness of the retailer and tire brands, how the retailer they chose stacks up against competitors, and much more.

Marketplace Insights conducts similar studies on a national scale for tiremakers and marketers, and offers some customization to them to obtain specific market intelligence.

All data is compiled and carefully analyzed by senior industry professionals, and a comprehensive detailed report – usually 70 to 80 pages in length – complete with custom analysis and recommendations is delivered. Marketplace Insights will even arrange to meet with its clients to review the report in greater detail.

“We are extremely excited about working with Tire Review, which is the most recognizable and trusted publication in the industry,” said John Montgomery, president and CEO of Marketplace Insights. “Their input, market knowledge, and marketing and sales capability will help us take MetroScan to the next level.

“Marketplace Insights offers a level of tire/service-specific experience, expertise and real-world knowledge that no other firm can match,” Montgomery said. “There are many non-tire specific firms and those with far less experience out there. We have spent more than 30 years in the tire industry, and we are totally dedicated to the tire industry – and that means we know your business and understand what value to the customer really means.”

“MetroScan is truly a unique and incredibly powerful tool for tire companies and dealers alike,” said David Moniz, Tire Review publisher. “We have worked with John and his team for the last five years, and have watched how MetroScan has helped countless dealers gain a better understanding of their market, their customers, their products, their competition and their opportunities.

“Tire Review has always been about helping its readers – everyone in the tire industry – improve their profitability,” he said, “and this is another way we are working to live up to our promise. How better to improve the sales and profit forecast for a tire dealer or marketer than by opening the door to a treasure trove of vital market intelligence?”

For dealers, MetroScan research can isolate just tire or vehicle service customers, or a combination of both. With the new partnership, an affordable pricing structure with multi-year options is available to make it more cost effective for dealers of all sizes.

For tire companies or large retail or distribution companies, national and regional studies are available with multi-year pricing options.

“While we know MetroScan will deliver timely, relevant and actionable information for any size company – from a single location dealer to a national brand or chain – conducting the study over multiple years allows clients to really track their performance in the market, how customers may be shifting preferences, where competition is gaining or losing favor, how brands continue to perform, the real impact of advertising investments and so much more. We felt it was important to make that option available to better help our clients succeed,” Montgomery said.

The national 2010 MetroScan study, which includes over 13,000 interviews with recent tire and automotive service buyers, is now available for purchase.

For more information, contact John Montgomery at 920-487-8020 or [email protected].

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