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Research Insights That Rock

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Research Insights That Rock …

Research Insights That Rock
How to structure research that makes sense as part of your business development, strategic planning
Marketing Jam '09
Saurage Research, Inc.

Published in: Business

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  • 1. Research Insights that Rock Susan Saurage-Altenloh February 2009
  • 2. Question #1 What do you want to know about your customers and how they make choices? dh h k hi ? Nothing. I really don’t care anymore Something more recent than 2003? Yes! Everything: Inquiring minds want to know! 2
  • 3. Question #2 How well do you convert research learnings into action plans and business development? i i l db i dl ? Awful: it’s just too difficult. It gets done. done Barely. Bravo! It drives our bottom line. 3
  • 4. Question #3 If you could get hear your customers’ thoughts without breaking the bank, wouldja? ih b ki hb k ldj ? YES. I YES In a Probably, P b bl heartbeat. but how? Tempting. Tempting Go away. I’ve away I ve Maybe I can given up. budget for it. g 4
  • 5. Susan’s research playlist… • Clarify what competitive positioning is and how to gauge it for your own business • Learn how to choose research that generates insights • Discover tools that reveal how customers elect to use you or your competition • Learn how to leverage this new knowledge for stronger positioning…in any economy 5
  • 6. Definition: Positioning • Noun: The place held by a product/service in the client’s mind…relative to other competing products • Verb: Efforts to create an image or identity in the minds of the target market…to convey product value to customers 6
  • 7. Definition: Marketing Research • Quantitative – Measurable, structured projectable Measurable structured, projectable, expressed in numeric form – Format: Statistics. – It asks: How many? • Qualitative – Subjective, exploratory, open-ended – Format: Metaphors, symbols, stories – It asks: What? Why? • Competitive Intelligence – Gathering, analyzing, and managing external information th t affects plans, decisions, operations if ti that ff t l d ii ti – Format: Interviews, info retrieval, market analytics – It asks: Status, history 7
  • 8. Defining the Target Market Why position to attract only a unique segment of the market rather than use a ‘shoot-for-the-middle’ strategy? • You are more likely to have an impact – H l you make a d t iin th markett Help k dent the k – Provides your business with an identity – Gives new customers a reason to consider you. • You are more able t d f d your business Y bl to defend bi – Strong market position is difficult to topple – Loyal client base is not easily dissuaded • You can organically grow your niche – Referrals, word of mouth, social networking 8
  • 9. The Basics of Market Positioning • Define the market – relevant buyers • Define the product space – attributes and dimensions • Clarify perceptions of each product on relevant attributes • Determine each product’s current location in the product space • Position your product 9
  • 10. Case 1 – Defining the Space • Define the market – relevant buyers • Define the product space – attributes and dimensions • Clarify perceptions of each product on relevant attributes • Determine each product’s current location in the product space • Position/reposition the product 10
  • 11. Case 2 – Creating a Brand • Define the market – relevant buyers • Define the competitive space – attributes and dimensions • Clarify perceptions of selected components on relevant attributes • Determine new development’s current location in the product space • Position the brand 11
  • 12. Case 3 – Repositioning • Define the market – relevant buyers & users • Define the competitive space – attributes and dimensions • Clarify perceptions of each competitor on relevant attributes • Determine each competitor’s current location in the product space • Position/reposition the offering 12
  • 13. Case 4 – Redefining Process • Define the market – relevant buyers • Define the competitive space – attributes and dimensions • Clarify perceptions of services on relevant attributes • Determine each competitor’s current location in the product space • Reposition the organization 13
  • 14. Tools that Rule • With customers: – Simple onsite surveys p y – Roundtables, lunch & learns – Direct ask, IDIs – Online surveys (if permitted) • With external markets: – Quantitative surveys Online, phone, email, Online phone email direct mail – Qualitative surveys Focus groups, IDIs, OQR, ethnography • With internal markets: – Roundtables, lunch & learns – Direct ask, IDIs –E l Employee e-pollsll 14
  • 15. What are the next steps? • Understand your space • Understand your market • Know how clients and prospects perceive you • Identify where your product fits currently • Move it where the fit allows you to be unique 15
  • 16. Research You Can Use … Rocks! You can contact me at ssaurage@SaurageResearch.com or on Facebook. Read my blog: www RealitySpikes com www.RealitySpikes.com http://twitter.com/RealitySpikes 16
  • 17. About the Presenter Susan Saurage-Altenloh specializes in designing research strategies and producing results that meet clients' information needs – completely and exactly. Susan has gathered actionable data for a client list that includes nationally known medical facilities, large manufacturers and refineries, prominent financial institutions, municipal and national governmental agencies, and advertising/ marketing firms. The most notable ones – Tenet, Conoco, Cameron, the EPA, HP/Compaq, Chicago Board of Trade, BP, Exxon, Dow, Siemens Transmission Products and McDonald’s – include several Fortune 500 companies. companies Susan has authored several articles appearing in national and regional business publications and regularly appears on television as an expert in market information and research trends She is a graduate of the MBA program at University of Texas at Austin trends. and graduated Magna Cum Laude from Houston Baptist University. You can contact Susan at ssaurage@SaurageResearch.com or on Facebook. Read her blog: www RealitySpikes com www.RealitySpikes.com http://twitter.com/RealitySpikes 17

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