Growth Team MembershipTM:     European Union     Market Research           and  Competitive Intelligence        Priorities...
What is Growth Team Membership™?The Growth Team Membership™ (GTM) is anannual subscription program that supportsindividual...
Table of Contents                                                               Growth Team MembershipTM Research         ...
Summary of Findings                                       Growth Team MembershipTM Research Factors in current business en...
Summary of Findings continued                                Growth Team MembershipTM ResearchKey Challenges facing Market...
Summary of Findings continued                        Growth Team MembershipTM ResearchSurvey Population •   The survey was...
Impact ofBusiness Environment Factors     on Market Research             and   Competitive Intelligence           Strategy
Top Five Business Environment Factors                                                                                     ...
Business Environment Impact on Market Research and CompetitiveIntelligence                              Growth Team Member...
Key Challenges FacingMarket Research Executives
Top Three Key Market Research Challenges                                                                                  ...
Top Three Key Market Research Challenges: root-cause                                                                      ...
Market Research Function Effectiveness                                                                                    ...
Conclusions and Implications                                  Growth Team MembershipTM ResearchBusiness EnvironmentBoth se...
Respondent Demographics
Demographics: Enterprise Type                                                                 Growth Team MembershipTM Res...
Demographics: Business Model                                                             Growth Team MembershipTM Research...
Demographics: Company Revenue                                                                           Growth Team Member...
Demographics: Top Five Participating Industries                                                                           ...
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Growth Team Membership:European Union Market Research and Competitive Intelligence Priorities- Survey Results

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Growth Team Membership:European Union Market Research and Competitive Intelligence Priorities- Survey Results

  1. 1. Growth Team MembershipTM: European Union Market Research and Competitive Intelligence Priorities: Survey Results June 2009
  2. 2. What is Growth Team Membership™?The Growth Team Membership™ (GTM) is anannual subscription program that supportsindividual executives in the eight functions (CEO’sGrowth Team) that CEOs rely on to shape andexecute their growth strategy.GTM offers growth-focused research, events andservices designed to increase the effectiveness,productivity and impact of these executives. If you have any questions or comments, please contact us at GTMResearch@frost.com 2
  3. 3. Table of Contents Growth Team MembershipTM Research PageSection 1: Summary of Findings …………………………………..……………….…..4Section 2: Business Environment Factors….............................……………………..8Section 3: Key Market Research Challenges………………………………………...11Section 4: Conclusions and Implications……………………..……………………....17Section 5: Respondent Demographics……………………..…………………...…....18Note: Due to the low response rates of competitive intelligence executives wecould not include their Key Challenges. The content of these pages are © 2009 Frost & Sullivan. All rights reserved. 3
  4. 4. Summary of Findings Growth Team MembershipTM Research Factors in current business environment shaping Market Research and Competitive Intelligence plans in 2009Respondents identified the following as the top five environmental factors:1.Global economic downturn (44%)2. Emerging global markets (44%)3. Corporate restructuring (28%)4. Increasing need for product/service innovation (22%)5. Decreasing customer demand (22%) 4
  5. 5. Summary of Findings continued Growth Team MembershipTM ResearchKey Challenges facing Market ResearchRespondents identified the following top three challenges:1. Ensuring that the research portfolio/agenda contains the right balance of strategic and tactical issues (33%)2. There was a tie for second: • Ensuring internal client/stakeholders integrate research insights into their decision making (17%) • Ensuring high quality contributions from suppliers/agencies (17%)3. Enhancing market research’s capabilities to provide consultative support to internal clients/stakeholders (18%)The effectiveness of the Market Research Function• Half of the respondents (50%) rated the effectiveness of their function as “Average,” while 33% rated it as “Above Average” 5
  6. 6. Summary of Findings continued Growth Team MembershipTM ResearchSurvey Population • The survey was sent to Market Research and Competitive Intelligence executives in the European Union • The number of respondents was 29Respondent Demographics • 67% work in a B2B company while 25% work in a hybrid (B2B and B2C) • 67% work in a private company while 25% work in a public company • The largest set of respondents (33%) was from companies with revenues from €696 million to €7 billion • The Healthcare and Life Science(25%), and Information and Communication Technologies (25%) industries had the largest number of respondents 6
  7. 7. Impact ofBusiness Environment Factors on Market Research and Competitive Intelligence Strategy
  8. 8. Top Five Business Environment Factors Growth Team MembershipTM ResearchMarket Research’s and Competitive Intelligence’s dominant concern is split between the recession (44%) and the opportunitiescreating through emerging global markets (44%). The recession’s effects in decreasing customer demand and drivingcorporate restructuring are also evident. Respondents also recognize a demand for greater new product/service innovation. Decreasing customer demand 22%Increasing need for product/service 22% innovation Corporate restructuring 28% N=18 Global economic downturn 44% Emerging global markets 44% 0% 10% 20% 30% 40% 50%Please indicate the two business environment factors that have the most impact on your 2009 Market Research and Competitive Intelligence plans. 8
  9. 9. Business Environment Impact on Market Research and CompetitiveIntelligence Growth Team Membership Research TMThe global economic downturn, the increase in competition, the resulting decrease in customer demand and corporaterestructuring were clearly negative influences on 2009 planning. Two of the top five factors were judged to have astrongly positive impact as they provided opportunities to stimulate growth via innovation and by tapping into emergingglobal markets. Business Environment Positive Impact No Impact Negative Impact Emerging global markets 72% 17% 11% Global economic downturn 6% 11% 83% Corporate restructuring 6% 11% 83% Increasing need for product/service 72% 17% 11% innovation Decreasing customer demand 0% 24% 77% (N=18)Please indicate the impact that each of the following forces have on your 2009 Market Research and Competitive Intelligence plans. 9
  10. 10. Key Challenges FacingMarket Research Executives
  11. 11. Top Three Key Market Research Challenges Growth Team MembershipTM ResearchMarket Research executives’ challenges focus primarily on the need to address and balance strategic and tactical issues.Respondents identify the difficulties in ensuring the quality of suppliers’ deliverables. They also struggle to get stakeholders toembed data and insights into decision making. Finally, executives recognize the need for Market Research to take aconsultative stance with stakeholders. • Ensuring that the research portfolio/agenda contains the right Challenge One balance of strategic and tactical issues (33%) • Ensuring that internal clients/stakeholders integrate research insights Challenge Two into their decision making(17%) • Ensuring high-quality contributions from suppliers/agencies (17%) Challenge Three • Enhancing market research’s capabilities to provide consultive support to internal clients/stakeholders (18%) (N=12)Please indicate the top three challenges shaping your Market Research decision-making in 2009. 11
  12. 12. Top Three Key Market Research Challenges: root-cause Growth Team MembershipTM ResearchThe majority of the respondents indicates that process or staff are the predominant root-causes of their top three challenges.Staff was reported as the root-cause for the challenge of balancing a portfolio of both strategic and tactical requests. Challenge Staff Technology Process 1. Ensuring that the research portfolio/agenda contains the 100% 0% 0% right balance of strategic and tactical issues 2a. Ensuring internal clients/stakeholders integrate research 33% 0% 67% insights into their decision making 2b. Ensuring high-quality contributions from 0% 33% 67% suppliers/agencies 3. Enhancing market research’s capabilities to provide 50% 0% 50% consultative support to internal clients/stakeholders (N=12)For the top three challenges you selected above, please indicate whether the root-cause of the challenge is staff, technology or process. 12
  13. 13. Market Research Function Effectiveness Growth Team MembershipTM ResearchHalf of the market research respondents (50%) rated the effectiveness of their function as “Average,” and 33% rate theirfunction’s effectiveness as “Above Average.” Exceptional 8% Above Average 33% N=12 Average 50% Below Average 8% 0% 10% 20% 30% 40% 50% 60%Please asses the overall effectiveness of your function as compared to other firms in your industry. 13
  14. 14. Conclusions and Implications Growth Team MembershipTM ResearchBusiness EnvironmentBoth sets of executives are concerned about the current economic environment and the resultingdecrease in customer demand and corporate restructuring. However, emerging global marketsand innovation are seen as positive developments for both functions.Key Market Research ChallengesMarket Research’s primary challenge revolves around the difficulties of ensuring their portfolioaccommodates both strategic and tactical projects given limited resources. Other challenges focuson enhancing the function’s role, by supporting stakeholders’ decision-making processes andacting as an internal consultant to the firm. Finally, as Market Research is heavily dependent uponits agencies and is dealing with constrained resources, it is imperative that agency contributionsare truly value adding.Addressing the root-causes of these challenges necessitates Market Research strengthening theirprocesses and upskilling their staff.Moving ForwardThe Growth Team MembershipTM is focusing its Best Practice Guidebooks to address the keyissues that have been identified in this survey.If you have any questions or comments please contact us at GTMResearch@frost.com 14
  15. 15. Respondent Demographics
  16. 16. Demographics: Enterprise Type Growth Team MembershipTM Research The majority of the respondents work in a private company Enterprise Type 8% 25% N=24 67% Public Private Venture CapitalPlease indicate the type of enterprise best represents your organisation. 16
  17. 17. Demographics: Business Model Growth Team MembershipTM Research An overwhelming majority of respondents work in B-to-B companies Both B-to-B and B-to-C 25% B-to-C 8% N=24 B-to-B 67% 0% 10% 20% 30% 40% 50% 60% 70% 80%Please indicate which of these options best describes your business model. 17
  18. 18. Demographics: Company Revenue Growth Team MembershipTM Research The majority of the respondents are in companies with revenues of €696 Million + 40% 33% 29% 30% 20% N=24 10% 8% 8% 0% 0% Below 70 million Euros 70 million to 347.99 348 million to 695.99 696 million to 7 billion More than 7 billion Euros million Euros million Euros EurosPlease indicate which of these company revenue ranges best represent your organisation. This should include all divisions, business units, and facilities. 18
  19. 19. Demographics: Top Five Participating Industries Growth Team MembershipTM Research Half of the respondents are in either the Healthcare and Life Sciences or Information and Communication Technologies industries Automotive and Transportation 7%Chemicals, Materials and Food 7% Energy and Power Systems 14% N=28Information and Communication 25% Technologies Healthcare and Life Sciences 25% 0% 10% 20% 30%Please indicate which of these Industry categories best describes you organisation. 19
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