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1
Trend Management
in Practice
Shaping Change –
Dr. Carolin Durst, Dr. Michael Durst,
Matthias Saffer, ITONICS GmbH, 2016
2
//
//
//
//
01 Background
02 Goals of the Study
03 Structure of the Study and Participants
04 Results and Conclusion
Content
3
Background
Shorter product lifecycles
Rapid technological progress
Companies need to respond to trends and to
anticipate changes in a proactive manner
4
 Insights into the current
status of trend management
in companies
Goals of the Study
1. Which sources
of information
are used for
trend research?
2. Which methods
do companies use
to investigate and
identify trends?
3. How do
companies
document and
assess trends?
5. Which software
is used for trend
management?
4. How is trend
management
embedded in an
organization?
?
?
??
?
?
??
5
Structure of the Study and Participants
Expert interviews
• Six interviews conducted
between May and June 2016
Online survey
• Questionnaire based on expert
interviews
• Conducted between July 15 and
August 5, 2016
• 57 participants, 37 data sets
(after data cleaning)
SME
n=13
Large Corporations
n=24
35% 65%
6
Structure of the Study and Participants
Participants of the
online survey are from
a wide variety of
industries
Automotive29,7%
SME
n=13
Large Corporations
n=24
Banks, Finance,
Insurance
5,4%
Building Industry8,1%
Chemicals8,1%
Service Sector5,4%
Energy & Raw
Materials
2,7%
Manufacturing18,9%
Retail10,8%
Information &
Communication
2,7%
Food Sector2,7%
Others5,4% ?
7
1. Which sources of
information are
used for trend
research?
8
Results: Data Sources used for Trend
ResearchC…D…
95.80%
83.30%
75%
71%
84.60%
46.20%
61.50% 61.50%
91.90%
70.30% 70.30% 67.60%
Large Corporations (n=24) SME(n=13) Total (N=37)
Symposia,
congresses, trade
fairs
Print media External reports/
studies
Download the
complete study for
free
Multiple
responses
9
Results: Data Sources used for Trend
Research
A broad range of external
and internal data sources
are used for trend research
10
”Internal sources tend to favor incremental
innovation, i.e. the optimization of existing
processes.
The external perspective shows trends and
technologies which we currently not yet or not
fully have on our radar.”
11
A proactive scanning of the
external business
environment is essential
for an early identification
of trends!
Conclusion
12
2. Which methods do
companies use to
investigate and
identify trends?
13
Results: Methods for Trend Research and
Trend IdentificationC…D…
87.50% 87.50%
83%
79%
100.00%
84.60%
92.30%
76.90%
91.90%
86.50% 86.50%
78.40%
Large Corporations (n=24) SME (n=13) Total (N=37)
Informal
exchange
Formal
exchange
Expert
interviews
Download the
complete study for
free
Multiple
responses
14
In practice, a broad range of methods is
generally applied for trend research.
Qualitative methods are used in particular for
the analysis of expert interviews or customer
opinions.
15
Specific software support
enables automated data
analysis, e.g. algorithms,
machine learning
 Trends can be identified
faster and more
purposefully!
Conclusion
16
3. How do
companies
document and assess
trends?
17
Results: Formats of Trend Documentation
C…D…
66.70%
37.50% 38%
42%
61.50%
30.80% 30.80%
15.40%
64.90%
35.10% 35.10%
32.40%
Large Corporations (n=24) SME (n=13) Total (N=37)
Profile Report Portfolio/ matrix Download the
complete study for
free
Multiple
responses
18
Trend knowledge is
usually stored in trend profiles,
reports or portfolios.
19
50%
of the respondents stated that the
trend knowledge is documented
locally and only accessible for
specific employees!
20
Results: Types of Trend Documentation
C…D…
83.30%
37.50%
29%
33%
38.50%
46.20%
23.10%
7.70%
67.60%
40.50%
27.00%
24.30%
Large Corporations (n=24) SME (n=13) Total (N=37)
PowerPoint Excel SharePoint Download the
complete study for
free
Multiple
responses
21
Trends are for the most part documented in
static documents generated with Excel or
PowerPoint.
Third-party software is mostly
used by large corporations.
22
Results: Criteria for trend evaluation
C…D…
75.00%
79.20%
71% 71%69.20%
53.80%
61.50%
38.50%
73.00%
70.30%
67.60%
59.50%
Large Corporations (n=24) SME (n=13) Total (N=37)
Industry sector
relevance
Company
relevance
Market potential Download the
complete study for
free
Multiple
responses
23
Trends are most frequently evaluated
in terms of their relevance (for the company
and the industry sector) or maturity level.
In practice, trends are often evaluated
at very irregular intervals and only if
necessary.
24
A regular evaluation and
update of trends is difficult
due to static documentation.
 In particular, short-lived
trends need to be continuously
monitored and reassessed time
and again!
Conclusion
25
4. How is trend
management
embedded in an
organization?
26
The organizational set-up is an indicator
on how well trend management is
institutionalized and implemented in
companies.
27
Results: Institutionalization of the Trend
ManagementC…D…
54.20% 54.20%
46%
17%
61.50%
46.20%
7.70% 7.70%
56.80%
51.40%
32.40%
13.50%
Large Corporations (n=24) SME (n=13) Total (N=37)
Via individual
persons
Marketing or
strategy
department
Independent
project group
Download the
complete study for
free
Multiple
responses
28
At the majority of companies who participated
in the survey trend management has not (yet)
been institutionalized.
Mostly trend management belongs to
the marketing or strategy departments.
Outsourcing of trend management plays
only a minor role.
29
For a functioning trend
management, all process
steps and the tasks and
roles involved must be
implemented and
communicated!
Conclusion
30
5. Which software is
used for trend
management?
31
Results: Use of Trend Management Software
C…D…
62.50%
29.20%
8%
23.10%
61.50%
15.40%
48.60%
40.50%
10.80%
Large Corporations (n=24) SME (n=13) Total (N=37)
Yes No No answer
32
Advantages of Trend Management Software
Real-time
Continuous communication,
documentation and update of
trend knowledge
Flexibility
Location-independent and
collaborative trend evaluation
Automation
Automatic scanning of databases
and topic mining
33
Results: Current Use of Trend Management
C…D…
80.00%
66.70%
53% 53%
66.70%
100.00%
33.30% 33.30%
77.80%
72.20%
50.00% 50.00%
Large Corporations (n=15) SME (n=3) Total (N=18)
Collect trend
information
Document
trends
Evaluate
trends
Download the
complete study for
free
Multiple
responses
34
Third-party trend management
software is mainly used for collecting
trend information and for documentation
purposes.
35
The majority of the
respondents regards a
dedicated trend management
software to be key for a
holistic, structured and
purposeful trend
management!
Conclusion
36
Are you interested in the detailed Study?
You can download the complete study for free:
https://www.itonics.de/company/publications
37
Nuremberg
Emilienstr. 9
D-90489 Nuremberg
+49 911 600 60 550
Berlin
Wallstr. 15a
D-10179 Berlin
+49 30 57702200
Kathmandu
Hanumansthan, Anamnagar
Kathmandu 44600, Nepal
+977 1 4239294
New York City
80 Pine Street, Floor 24
New York, NY 10005
+1 212 7523011
www.itonics.de contact@itonics.de
ITONICS GmbH
© 2017 ITONICS GmbH
All rights reserved. For further information, see www.itonics.de/imprint. This content contains general information and does not
replace a personal consultancy session.
Copyright images: Icon vector created by Freepik

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ITONICS - Trend Management in Practice

  • 1. 1 Trend Management in Practice Shaping Change – Dr. Carolin Durst, Dr. Michael Durst, Matthias Saffer, ITONICS GmbH, 2016
  • 2. 2 // // // // 01 Background 02 Goals of the Study 03 Structure of the Study and Participants 04 Results and Conclusion Content
  • 3. 3 Background Shorter product lifecycles Rapid technological progress Companies need to respond to trends and to anticipate changes in a proactive manner
  • 4. 4  Insights into the current status of trend management in companies Goals of the Study 1. Which sources of information are used for trend research? 2. Which methods do companies use to investigate and identify trends? 3. How do companies document and assess trends? 5. Which software is used for trend management? 4. How is trend management embedded in an organization? ? ? ?? ? ? ??
  • 5. 5 Structure of the Study and Participants Expert interviews • Six interviews conducted between May and June 2016 Online survey • Questionnaire based on expert interviews • Conducted between July 15 and August 5, 2016 • 57 participants, 37 data sets (after data cleaning) SME n=13 Large Corporations n=24 35% 65%
  • 6. 6 Structure of the Study and Participants Participants of the online survey are from a wide variety of industries Automotive29,7% SME n=13 Large Corporations n=24 Banks, Finance, Insurance 5,4% Building Industry8,1% Chemicals8,1% Service Sector5,4% Energy & Raw Materials 2,7% Manufacturing18,9% Retail10,8% Information & Communication 2,7% Food Sector2,7% Others5,4% ?
  • 7. 7 1. Which sources of information are used for trend research?
  • 8. 8 Results: Data Sources used for Trend ResearchC…D… 95.80% 83.30% 75% 71% 84.60% 46.20% 61.50% 61.50% 91.90% 70.30% 70.30% 67.60% Large Corporations (n=24) SME(n=13) Total (N=37) Symposia, congresses, trade fairs Print media External reports/ studies Download the complete study for free Multiple responses
  • 9. 9 Results: Data Sources used for Trend Research A broad range of external and internal data sources are used for trend research
  • 10. 10 ”Internal sources tend to favor incremental innovation, i.e. the optimization of existing processes. The external perspective shows trends and technologies which we currently not yet or not fully have on our radar.”
  • 11. 11 A proactive scanning of the external business environment is essential for an early identification of trends! Conclusion
  • 12. 12 2. Which methods do companies use to investigate and identify trends?
  • 13. 13 Results: Methods for Trend Research and Trend IdentificationC…D… 87.50% 87.50% 83% 79% 100.00% 84.60% 92.30% 76.90% 91.90% 86.50% 86.50% 78.40% Large Corporations (n=24) SME (n=13) Total (N=37) Informal exchange Formal exchange Expert interviews Download the complete study for free Multiple responses
  • 14. 14 In practice, a broad range of methods is generally applied for trend research. Qualitative methods are used in particular for the analysis of expert interviews or customer opinions.
  • 15. 15 Specific software support enables automated data analysis, e.g. algorithms, machine learning  Trends can be identified faster and more purposefully! Conclusion
  • 16. 16 3. How do companies document and assess trends?
  • 17. 17 Results: Formats of Trend Documentation C…D… 66.70% 37.50% 38% 42% 61.50% 30.80% 30.80% 15.40% 64.90% 35.10% 35.10% 32.40% Large Corporations (n=24) SME (n=13) Total (N=37) Profile Report Portfolio/ matrix Download the complete study for free Multiple responses
  • 18. 18 Trend knowledge is usually stored in trend profiles, reports or portfolios.
  • 19. 19 50% of the respondents stated that the trend knowledge is documented locally and only accessible for specific employees!
  • 20. 20 Results: Types of Trend Documentation C…D… 83.30% 37.50% 29% 33% 38.50% 46.20% 23.10% 7.70% 67.60% 40.50% 27.00% 24.30% Large Corporations (n=24) SME (n=13) Total (N=37) PowerPoint Excel SharePoint Download the complete study for free Multiple responses
  • 21. 21 Trends are for the most part documented in static documents generated with Excel or PowerPoint. Third-party software is mostly used by large corporations.
  • 22. 22 Results: Criteria for trend evaluation C…D… 75.00% 79.20% 71% 71%69.20% 53.80% 61.50% 38.50% 73.00% 70.30% 67.60% 59.50% Large Corporations (n=24) SME (n=13) Total (N=37) Industry sector relevance Company relevance Market potential Download the complete study for free Multiple responses
  • 23. 23 Trends are most frequently evaluated in terms of their relevance (for the company and the industry sector) or maturity level. In practice, trends are often evaluated at very irregular intervals and only if necessary.
  • 24. 24 A regular evaluation and update of trends is difficult due to static documentation.  In particular, short-lived trends need to be continuously monitored and reassessed time and again! Conclusion
  • 25. 25 4. How is trend management embedded in an organization?
  • 26. 26 The organizational set-up is an indicator on how well trend management is institutionalized and implemented in companies.
  • 27. 27 Results: Institutionalization of the Trend ManagementC…D… 54.20% 54.20% 46% 17% 61.50% 46.20% 7.70% 7.70% 56.80% 51.40% 32.40% 13.50% Large Corporations (n=24) SME (n=13) Total (N=37) Via individual persons Marketing or strategy department Independent project group Download the complete study for free Multiple responses
  • 28. 28 At the majority of companies who participated in the survey trend management has not (yet) been institutionalized. Mostly trend management belongs to the marketing or strategy departments. Outsourcing of trend management plays only a minor role.
  • 29. 29 For a functioning trend management, all process steps and the tasks and roles involved must be implemented and communicated! Conclusion
  • 30. 30 5. Which software is used for trend management?
  • 31. 31 Results: Use of Trend Management Software C…D… 62.50% 29.20% 8% 23.10% 61.50% 15.40% 48.60% 40.50% 10.80% Large Corporations (n=24) SME (n=13) Total (N=37) Yes No No answer
  • 32. 32 Advantages of Trend Management Software Real-time Continuous communication, documentation and update of trend knowledge Flexibility Location-independent and collaborative trend evaluation Automation Automatic scanning of databases and topic mining
  • 33. 33 Results: Current Use of Trend Management C…D… 80.00% 66.70% 53% 53% 66.70% 100.00% 33.30% 33.30% 77.80% 72.20% 50.00% 50.00% Large Corporations (n=15) SME (n=3) Total (N=18) Collect trend information Document trends Evaluate trends Download the complete study for free Multiple responses
  • 34. 34 Third-party trend management software is mainly used for collecting trend information and for documentation purposes.
  • 35. 35 The majority of the respondents regards a dedicated trend management software to be key for a holistic, structured and purposeful trend management! Conclusion
  • 36. 36 Are you interested in the detailed Study? You can download the complete study for free: https://www.itonics.de/company/publications
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