Polk Launches Clunker Clusters
July 29 2009
In the US, automotive research specialist R. L. Polk & Co. has introduced a segmentation system tying in with the much-discussed 'Cash for Clunkers' vehicle disposal initiative.
The agency already offers a marketing list solution helping clients to target consumers eligible for the recently signed Consumer Assistance to Recycle and Save (CARS) program. The new offer uses modelling techniques to find households that are not only likely to qualify for the CARS program voucher, but should also have the money to buy a vehicle. CARS-eligible consumers go into one of three segments:
- those likely to have the financial means to afford a monthly payment on a new vehicle.
- those likely to require some additional financial incentives to do so
- those unlikely to go for the deal either through lack of finance or based on previous habits.
'As the CARS program begins to take hold in the market, it's important that we provide our customers with the most comprehensive solution for their marketing program needs' comments Lonnie Miller, Director of Industry Analysis for Polk, adding that the solution 'helps our customers determine the most cost-effective opportunities for reaching customers with the highest purchase potential, saving them time and money.'
In putting the solution together, Polk found that around 50% of households that are likely to own a 'clunker' may be able to afford to buy another car in additionm, and may keep the clunker as an extra vehicle, according to Polk Analytic Consultant Dan Zetu. 'It is important for OEMs and dealers to clearly communicate their value proposition to convince consumers to dispose of the clunker and purchase one of their vehicles rather than one from a competing dealer.'
Polk is a privately held global firm based in Southfield, MI and with operations in Australia, Canada, China, France, Germany, Japan, Spain, the UK and US. Web site:
www.polk.com/cashforclunkers .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.
