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6 strategic market intelligence myths, demystified


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6 strategic market intelligence myths, demystified

  1. 1. 6myths about strategic market intelligence… demystified<br />frederic de meyer<br />institute for future insights<br /><br />
  2. 2. #1 strategic market intelligence is costly<br />Frederic De Meyer – i4fi<br />Not necessarily ! <br />Dependent on the type of decision you need to make, strategic intelligence can be costless <br />…paid services on top can be useful as endorsement<br />Decision area<br />
  3. 3. #2 you need an external agency to gather strategic data<br />Frederic De Meyer – i4fi<br />(free statistics)<br />Not necessarily ! <br />The internet is loaded with free data and market insights… a thorough and systematic search can do a great part of the job!<br />(professional organizations –technology examples)<br />(free market insights)<br />
  4. 4. #3 strategic market intelligence is complex<br />Frederic De Meyer – i4fi<br />Hell no, not always ! <br />Very often the bleeding obvious is omitted… bottom line thinking and simple cross-checks can do miracles !<br />
  5. 5. #4 interpreting market data is easy<br />Frederic De Meyer – i4fi<br />Our addressable market is growing with 10%. So, provided we keep the same market share, our turnover will grow with 10% as well<br />Hell no, not always ! <br />Simple conclusions often hide some inconvenient truths… the devil is in the detail !<br />Even if we keep the same market share in each of our markets, our overall share and turnover might decline<br />
  6. 6. #5 strategic intelligence = 200 slides per question<br />Frederic De Meyer – i4fi<br />Don’t ask for them ! <br />Ask for that single chart that exactly answers your question and helps you make that one decision…<br />(but think about it thoroughly before you do)<br />
  7. 7. #6 data needs to be 100% accurate to make decisions based on them<br />Frederic De Meyer – i4fi<br />No it doesn’t ! <br />There is no such thing as 100% accurate data… <br />furthermore, you shouldn’t mind if the data is 80%, 82.5% or 84.7332% accurate, just as long as you can make successful decisions based on them!<br />illusion / delusion<br />?<br />A<br />A<br />A<br />Strategic options: A, B, C, D, E<br />A<br />A, C<br />A, C<br />A, C, D<br />A, B, C, D<br />
  8. 8. helping you anticipate the future !<br />