Comprehensive analytics to understand optimal product pricing and relative volume in the current marketplace
As a new entrant to the US marketplace, IHS Markit can help validate your product pricing and volume assumptions as you develop your go-to-market strategy.
You may have a major refresh to an existing nameplate in the cycle plan or a slowing sales pace. Evaluating the vehicle line within its competitive set to understand potential pricing or variable marketing actions is key to identifying a pricing strategy.
Each study has a custom model built to meet the client’s specific needs. Starting with a baseline understanding of the current performance from IHS Markit’s comprehensive datasets, we take into consideration competitive vehicle sales, geographic patterns, and transaction details.
The study’s output is a custom elasticity equation delivered with corresponding volume expectations.
Do you make it easy for customers to interact with your brand and seamlessly purchase your vehicles?
Understanding the path your customers take helps you focus your efforts on reaching them when they are entering the market – from initial consideration to research to purchase. IHS Markit can help remove customer pain points and make it as convenient as possible for the customer to interact with your brand, leading to increased sales.
IHS Markit Vehicle Buyer Journey Studies provide key metrics and insights on the path consumers take when researching, shopping, and purchasing their vehicles.
Each study is designed with qualitative and quantitative inputs to provide a comprehensive picture of the automotive customer’s journey. The study results identify process improvement areas and focus your efforts on streamlining customer engagement.
Identifying key drivers that impact customer retention
Understanding the key drivers of customer retention is critical for automakers. IHS Markit is the leading provider of analytics and can provide insights that help you design a retention strategy or measure the progress of current retention efforts. Our Automotive Customer Retention Studies are designed to meet your specific needs by combining experienced-based drivers with market and environmental drivers. We use regression analysis to understand how important each of these drivers are to customer retention when customers returned to market. We help ensure that you are investing in the most impactful areas to improve retention.
Can you identify which customers have long-term value for your brand?
The industry average for brand loyalty is 55%, leaving the remaining 45% up for grabs. Identifying a customer’s long-term potential for your brand is important when evaluating private incentives or after-warranty assistance.
By creating a custom customer lifetime value index, IHS Markit can identify untapped potential in your customer base. Each index is created to fit your unique needs.
Combining IHS Markit proprietary datasets with select customer datasets, our data scientists determine which factors are statistically significant and group customers that have the greatest impact on the long-term growth of your brand.
Utilizing these findings, IHS Markit can create a custom model to score your marketing permissible database.
Tap into the purchasing power of specific ethnic and demographic consumer groups
IHS Markit arms you with the critical information you need to engage diverse ethnic and demographic markets within the United States. Our data, combined with our automotive expertise, enable you to target growing, lucrative ethnic and gender markets for new/used vehicles, parts and service, and other automotive related promotions. With our Automotive Diversity Market Data, discover:
- What's selling? (Make, model, engine size, etc.)
- Who's buying? (Ethnicity, gender, age, income)
- Where to reach them? (State, MSA, ZIP code, etc.)