JD Power Essay Example | Topics and Well Written Essays - 750 words - 1

JD Power - Essay Example Now, how does one define the specific market segments of JD Power consumers? Basically, the company provides pertinent market research to its clients spanning a myriad of different industries, including automotives, real estate, insurance, and telecommunications. If it is to be broken down, the company has two main target markets – everyday consumers and corporate business entities. Everyday consumers utilize the customer satisfaction ratings and market research studies of the company in order to make better- informed decisions regarding their purchases and transactions, using the culled consumer information data as a reference point. They make use of the service by simply going to the company’s consumer website, where they can look for the specific industry that concerns them at the moment. From there, the market research data and research surveys would be readily available for instant viewing. Consumers in all likelihood use the product every time they are in need of a figure-backed opinion concerning an upcoming purchase. They could compare how the product or service stacked up in the court of public opinion, and could use it as an additional tool towards making an informed and well-researched decision. Corporations and businesses make up the other major market segment of the company. They seek the consumer data culled by JD Power for their own internal use. The companies buy the comprehensive research provided by JD Power and utilize it in accordance with their own business interests.2 This is a process that occurs every time a new product or service is launched; the companies would want to know how it is received in the marketplace. Armed with this information , these client companies would be well-informed as to what their succeeding strategies would be. Now, why did JD Power and Associates choose to concentrate on these two main target markets? Obviously the consumers do not pay anything for the research that is