Market Research

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Feasibility - Taking a Product and / or Service to Market

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Market Research

  1. 1. Market Research / Intelligence Feasibility - Taking a Product and / or Service to Market Anand Subramaniam
  2. 2. “If anything goes bad, I did it. If anything goes semi-good, we did it. If anything goes really good, then you did it. That's all it takes to get people to win football games for you.” - Paul Bear Bryant 2
  3. 3. Highlights  Market Entry Strategies  Market Research  Market Data Intelligence  Market Research Data - Examples 3
  4. 4. Market Entry Strategies
  5. 5. Market Entry - New Entrant Challenges Internal External Constraints Constraints • Time constraints • Market Data – Access / Availability • Resource limitations • Competition • Financial pressure 5
  6. 6. Entry Strategy – Market Data Market Competitive Economic Regulatory Competency Dynamics Landscape Outlook Environment / Capability SWOT Analysis Risk / Opportunity Analysis Summary / Conclusion Market Opportunity Description Market Entry Strategies Detailed Role-out Plan Technical Road Map Contingency Plan and Finance Budget 6
  7. 7. Market Entry Strategies - depends on.. Market Entry Strategies Vision and Mission Pricing Objectives Brand and communication Overall Strategy Sales and distribution Positioning Products and services Value proposition Customer service Brand Launch phasing Target segments 7
  8. 8. Market Entry Launch - depends on.. Program & Project Management Office Business Plans & Budgets Market Entry Strategy Network Deployment Regulatory Support Back-end Support Product roadmap Vendor interactions Interconnect Customer Service Advertising Site Acquisition Negotiation Billing Distribution Reporting Regulatory Customer service Installation Support Stakeholder Management / Communication Corporate / Operational - KPIs 8
  9. 9. Market Research
  10. 10. Market Research Channel Customer Research & Decision Value-chain Dynamics Analysis Country Research Market Competitor Researc Analysis h Channel Price Partner Analysis Market Selection Sizing & Segmentation 10
  11. 11. Customer Decision Dynamics  Customer base analysis  Drivers of customer loyalty  Research on specific customers  Key decision makers / influencers  Database of customer procurement  Customer usage & brand perception  Customer decision-making process  Recommended best practice in marketing, sales & post-sales support 11
  12. 12. Country Research  Scenario forecasting  Development of country plans  Legal / regulatory issues analysis  Government relations strategy formulation 12
  13. 13. Price Analysis  Price trend analysis  Product price gap analysis  Product price positioning  Product price & specification database 13
  14. 14. Market Sizing & Segmentation  Market sizing  Market forecasting  Market trend analysis  Future price inflexion points  Market segmentation  geographic region  channel type  price band  customer segment 14
  15. 15. Channel Partner Selection  Profiling Channel Partners  Potential Channel Partner - SWOT analysis  Evaluation and recommendation for business partnership negotiations NB – please refer to my power-point slides on “Channel Program” for further details 15
  16. 16. Competitor Analysis  Competitor operations  Competitive environment  Competitor infrastructure  Analysis & forecast of competitor financials  Competitor strategy, targets and tactical plans  Benchmarking from competitor best practices  Recommendations on competitor threat response 16
  17. 17. Channel Research / Value Chain Analysis  Channel drivers  Channel analysis  Channel mapping  Vendor alignments  Brand perceptions  Identities of key channels  Channel loyalty and satisfaction  Satisfaction levels with principals  Current competitor-channel relationship analysis 17
  18. 18. Market Data Intelligence
  19. 19. Market Intelligence Continuous Process for gathering data Product Business Character- Practices stics Market Intelligenc e Availability Competenc of Data for y& Decision Capabilities Making Market Intelligence = Strategy + Tactical 19
  20. 20. Why Market Intelligence? Provides Extends Reduces Business Business Business Information Reach Risk Take the industry “pulse” Locate potential new Measure the cost of business partners Market Research vs. the cost of Strategy / Raise client awareness of Prepare client to Business Failure innovative start-ups, implement innovative trailblazers, and first solutions movers Forecast the impact that tomorrow’s solutions will have on a company’s required skills, processes) Share best practices 20
  21. 21. Transforming Data into Intelligence Data Facts and information you’ve discovered Findings Information that answers market research question or objective Analysis Using statistics to get means, distributions, correlations, etc Information Observations from your analysis Conclusion Summary of findings Recommendation Informed suggestions for actions 21
  22. 22. Market Intelligence - Process Input Customer Requirements Information Task Task Sizing Task Assessment Sources Definition Needs Priorities Information Resources Focus Resources Data Research Information Identify Market Competitor /Product / Information Gathering / Players Market/ Data Gathering Analysis / Analysis Teaming / Competition Strengths / Weakness' Market Potential Prioritisation / Threats Competitor Strategies / Profiles Market Position Performance Information Lessons Output Success Use Learned Win / Loss What Does it mean Decision Market Direction Communicate Findings Strategic Direction Frequency of dissemination Source- Competitive Horizons 22
  23. 23. Market Research Data - Examples
  24. 24. Data - Market / Competition  Industry / Market Assessments  Competitor Profiles  Market Decomposition Map  Company Background: Overview,  Industry segments and sub-segments History  History  Top Competitors  Key Market Drivers & Segment Trends  Reported Segments  Key Competitors / Market Share • Offerings, Key Competition,  Forecast • Impacting Trends, Key Financials  Related Segments: • Company Financial Health  Best Practices / Benchmark • Facility Risk Appraisals  Company visits and interviews • Mergers/Acquisitions/Divestitures  Case studies • Key Programs  Emerging Trends • Prime Contract Awards  Demand Trends  Technology Trends  New Market Players/Entrants  New Market Players / Entrants  New entrants & explanations why they could enter the market  Revenue Size / Outlook  Current size of the industry and  Forecasting expected future size  Industry Growth, Market Shares  Recommendations for Action 24
  25. 25. Data - Market / Product / Support / Test  Product Data  Support Data  Product features and functions  Warranties  Information on the performance and  Repair histories interface characteristics  Policies & procedures on repair and  Applicable regulatory commercial and replacement, upgrades, support after "de facto" standards withdrawal from manufacturing  Product differentiating factors  Date specific products will no longer be  Cost-driving factors produced or supported  Market Acceptance Data  Test Data  Annual sales  Test methodology and results.  Product maturity  Test data provider (supplier or other  Returns on warranty lab).  Other data related to whether the  Used to validate claims regarding product meets your needs product performance.  Existing test data may eliminate / reduce need for further testing.  Request information on regulatory or third party testing or certification 25
  26. 26. “I came, I saw, I conquered.” - Julius Caesar 26
  27. 27. Good Luck http://www.linkedin.com/in/anandsubramaniam 27

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