Kurt Peters , Executive Editor
BOSTON – June 27, 2005 – Compete, Inc., the leading predictive analytics firm, today announced that Hyundai Motor America has selected Compete to provide insight into the online research and shopping behavior of consumers and to assist in improving the efficiency of its marketing expenditures. Hyundai cars and sport utility vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 665 Hyundai dealerships nationwide.
“Hyundai looks to Compete to quantify in-market consumer behavior so that the company can guide and enhance their marketing campaigns in real time,” said Lincoln Merrihew, managing director of Compete’s Automotive Practice. “Hyundai can now make more timely and impactful decisions on its advertising and incentive programs. This kind of insight is crucial to any company looking to reach sales, profit and market share goals.”
Compete provides Hyundai with a source of actionable insight into those consumers who are at a critical point in their purchasing decision, enabling Hyundai to identify and reach target customers in real time. The insights are presented within the context of the market overall, and efforts by Hyundai and rivals to influence the market, including advertising and incentive spend. Hyundai uses Compete as one source of information to best determine whether to increase advertising spending or alter incentives for its products, on an ongoing basis, within the context of the automotive economic climate.
“We have found Compete`s insights into consumer behavior to be an invaluable addition to the portfolio of tools we deploy to optimize our marketing mix,” said John Krafcik, vice president of product development and strategic planning. “Compete helps us to make informed decisions about our marketing and conversion tools in real time, enhancing our bottom line results.”
Hyundai Motor America, based in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sports utility vehicles are distributed in the United States by Hyundai Motor America and are sold and serviced through more than 660 dealerships nationwide. For more information, visit www.hyundainews.com.
About Compete, Inc.
Compete provides the earliest indication of actual consumer behavior available, which gives clients the information needed to improve the effectiveness of customer acquisition, servicing, cross-sell and retention. Compete has proven that online data on consumer behavior is a predictive indicator of total demand and purchase intent – both offline and online. Compete leverages its database of the daily behavior of more than 10 million online consumers to offer predictive analytics, which Compete`s industry experts interpret to provide clear recommendations for action. Since launching its services Compete has provided major auto manufacturers, financial services companies and wireless carriers with a unique vantage point on their customers and competitors not previously available. For more information visit http://www.compete.com.
Donna M. Murno
Racepoint Group, Inc.