ATLANTA, Nov. 8, 2005 (PRIMEZONE) -- Utilities have embraced market research as a vital tool in customer satisfaction. Why? The establishment of customer-driven products, services and programs results in customer satisfaction improvements. According to Chartwell's latest report, Market Research at Utilities, the process must begin with an understanding of the utility's customers to determine how to satisfy them, what products/services will appeal to them, and what branding strategies will have an effect.
According to utility sources Chartwell interviewed, market research involves gaining an intimate understanding of your own company, the customer, others serving the marketplace and how your utility fits in. The majority of utilities use at least one or two market research tools, according to Chartwell survey data of 87 utilities revealed in the new report. However, other tools are less widely used in the industry at this time. For example, 55% often conduct customer surveys for market research purposes and another 40.3% sometimes do. However, only 23% of utilities often use another common and valuable tool -- market segmentation. While 40% sometimes use market segmentation, more than two-thirds of utilities currently don't use this tool at all.
Market Research at Utilities discusses a wide variety of market research strategies and profiles market research efforts at a variety of utilities including Portland General Electric, Xcel Energy, KeySpan Energy, Progress Energy, Pepco and more. The 38-page report also includes specific survey data and 10 graphs.
Market Research at Utilities, which is available from Chartwell for $395, is part of The Chartwell Utility Marketing Research Series, which focuses on utility products, services, marketing and communications.
The Research Series is a 12-month membership that includes a data summary and report and accompanying database based on Chartwell's extensive annual utility survey; regular in-depth reports and case studies covering specific products/services or marketing-related issues; one-on-one consultation with Chartwell research staff on topics covered; profiles of vendors poised to help utilities in this arena; and more.
For information on membership in The Chartwell Utility Marketing Research Series or the individual report, Market Research at Utilities, contact Bill Grist at (800)432-5879, (404)237-9099 or bgrist@chartwellinc.com; or visit www.chartwellinc.com or Chartwell's Energy Library at www.energylibrary.com.
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Chartwell Inc. seeks to provide a better understanding of technologies, issues and management practices in the utility and retail energy services industry through best practices case studies and quantitative research.