Dee Davey, Owner of Creative Ideas Marketing talks to LA2M (Lunch Ann Arbor Marketing) group about how to do basic market research in order to better understand customers' needs.
This document describes a business intelligence and consulting firm called MIKPO. MIKPO provides research, analytics, and intelligence services to financial institutions, consultancies, and other businesses. Their services include financial research and analytics, business intelligence, and research and consulting. They have a global team and delivery capabilities. Their goal is to increase clients' capabilities, reduce costs, and provide customized services to satisfied clients.
MarketsandMarkets is a full-service market research and consulting firm that produces 120 syndicated reports per year covering over 10 industries. They plan to launch industry and country-specific market trackers comprising around 60,000 reports annually, which will form one of the world's largest business intelligence resources. They provide syndicated research, consulting services, and sponsored research studies to strategic clients.
"Physiotherapy at home" considers a possible alternative to physiotherapy treatments at a healthcare facility.
Travelling to a healthcare facility can be expensive, time-consuming and create unnecessary exposure to other patients, among other factors.
Our proposal is to use consumer technology to allow patients to receive some forms of physiotherapy treatment through the web. Team Albatross created a system where healthcare professionals create exercises targeting specific parts of the body and monitor patients performing these exercises in real-time. We created this working prototype in 24-hours.
Team Albatross is George Goh and Liu Xiaohui.
The document summarizes a workshop on idea management and evaluating business opportunities. It discusses:
1) The entrepreneurial process including opportunity discovery, evaluation, assembling resources, and exploiting opportunities.
2) Criteria for evaluating opportunities such as unique value proposition, revenue model, industry analysis, risks, and team capabilities.
3) Tools for industry and idea evaluation including market research, competitor analysis, and SWOT analysis. Examples are provided to demonstrate how to apply these evaluation frameworks.
Software Product Management in Web 2.0Suhas Kelkar
This document outlines the course objectives and content for a 12-hour course on software product management. The course will introduce students to key concepts like requirements gathering, writing business cases, product pricing, branding, and innovation. It will also cover frameworks for managing and marketing technology products. The course is divided into four 3-hour sessions that will address topics such as pricing models, prioritizing features, creating product roadmaps, and product management in agile and web 2.0 environments.
Is there a market for my new product nf programme 2012 mirc athloneGreg Byrne
The document provides information about a market research and validation workshop for startups with new products. It discusses the purpose of conducting market research and validation for startups to develop and test their business model. The workshop will cover conducting secondary and primary market research in 7 steps across 2 stages to gather information about the company, product concept, business model, industry context, competitors, collaborators, and customers to validate the business model.
This document discusses the importance of conducting market research before starting a new business venture. It defines market research as the systematic gathering and interpretation of information about potential customers, competitors, and the business environment. The key functions of market research are to identify customer needs and market size, discover new market opportunities, and develop strategic marketing plans to gain a competitive advantage. The document provides examples of conducting market research for a donut shop and raincoat business. It outlines factors to consider such as market segmentation, trends, supply and demand. Guidelines are presented for performing reliable and measurable market research through surveys.
This document provides an overview of marketing and outlines the key components of developing an effective marketing plan. It discusses the 4 Ps of marketing - product, place, price, and promotion. It emphasizes the importance of market research and defining the target market. The document then details the critical elements that should be included in a marketing plan such as goals, objectives, strategies, budget, and tactics. Finally, it provides homework assignments and resources for small businesses to further develop their marketing.
This document describes a business intelligence and consulting firm called MIKPO. MIKPO provides research, analytics, and intelligence services to financial institutions, consultancies, and other businesses. Their services include financial research and analytics, business intelligence, and research and consulting. They have a global team and delivery capabilities. Their goal is to increase clients' capabilities, reduce costs, and provide customized services to satisfied clients.
MarketsandMarkets is a full-service market research and consulting firm that produces 120 syndicated reports per year covering over 10 industries. They plan to launch industry and country-specific market trackers comprising around 60,000 reports annually, which will form one of the world's largest business intelligence resources. They provide syndicated research, consulting services, and sponsored research studies to strategic clients.
"Physiotherapy at home" considers a possible alternative to physiotherapy treatments at a healthcare facility.
Travelling to a healthcare facility can be expensive, time-consuming and create unnecessary exposure to other patients, among other factors.
Our proposal is to use consumer technology to allow patients to receive some forms of physiotherapy treatment through the web. Team Albatross created a system where healthcare professionals create exercises targeting specific parts of the body and monitor patients performing these exercises in real-time. We created this working prototype in 24-hours.
Team Albatross is George Goh and Liu Xiaohui.
The document summarizes a workshop on idea management and evaluating business opportunities. It discusses:
1) The entrepreneurial process including opportunity discovery, evaluation, assembling resources, and exploiting opportunities.
2) Criteria for evaluating opportunities such as unique value proposition, revenue model, industry analysis, risks, and team capabilities.
3) Tools for industry and idea evaluation including market research, competitor analysis, and SWOT analysis. Examples are provided to demonstrate how to apply these evaluation frameworks.
Software Product Management in Web 2.0Suhas Kelkar
This document outlines the course objectives and content for a 12-hour course on software product management. The course will introduce students to key concepts like requirements gathering, writing business cases, product pricing, branding, and innovation. It will also cover frameworks for managing and marketing technology products. The course is divided into four 3-hour sessions that will address topics such as pricing models, prioritizing features, creating product roadmaps, and product management in agile and web 2.0 environments.
Is there a market for my new product nf programme 2012 mirc athloneGreg Byrne
The document provides information about a market research and validation workshop for startups with new products. It discusses the purpose of conducting market research and validation for startups to develop and test their business model. The workshop will cover conducting secondary and primary market research in 7 steps across 2 stages to gather information about the company, product concept, business model, industry context, competitors, collaborators, and customers to validate the business model.
This document discusses the importance of conducting market research before starting a new business venture. It defines market research as the systematic gathering and interpretation of information about potential customers, competitors, and the business environment. The key functions of market research are to identify customer needs and market size, discover new market opportunities, and develop strategic marketing plans to gain a competitive advantage. The document provides examples of conducting market research for a donut shop and raincoat business. It outlines factors to consider such as market segmentation, trends, supply and demand. Guidelines are presented for performing reliable and measurable market research through surveys.
This document provides an overview of marketing and outlines the key components of developing an effective marketing plan. It discusses the 4 Ps of marketing - product, place, price, and promotion. It emphasizes the importance of market research and defining the target market. The document then details the critical elements that should be included in a marketing plan such as goals, objectives, strategies, budget, and tactics. Finally, it provides homework assignments and resources for small businesses to further develop their marketing.
It’s important to understand the potential impact that a new disruptive technology might have on the marekt. The role of the Market Opportunity Analysis (MOA) is to help guide the process of better understanding of the most important market segments, how fast the opportuity is growing, what are the key sustainable differentiations and why are these important. Finally, the purpose of the MOA is to, on one hand, describe the key value propostions and to profile the most important use cases and how best to acquire customers.
We have prepared the following template which describes the MOA process and how outlines the factors for successfully growing market share. Our IRG MOA PowerPoint takes you through the key steps for learning about emerging market opportunities and using that learning to influence strategic decision making.
The document provides guidance for marketing in startups. It discusses the current economic environment which favors proven revenue streams and fast payback periods. It distinguishes strategic from tactical marketing and emphasizes the importance of understanding customers through conversations to develop and refine product concepts. The document advises marketing a solution to a well-defined customer problem and testing hypotheses directly with prospective customers.
This document provides an introduction to marketing presented by Dr. Brian Monger. It discusses:
1. MAANZ International, the organization providing the presentation, which has operated for over 25 years offering marketing courses, memberships, and publications.
2. An overview of marketing, defining it as the exchange of value between parties to satisfy human wants. Marketing plays a significant role in society and effective management is essential for organizational success.
3. The key components of any organization's business including a market, a value proposition/product, operations, and management to produce and offer a product for exchange.
Cesse 2012 Management Institute Nikki Walker - Bringing It All TogetherPeter Turner
The document provides strategies for organizations to successfully grow globally. It outlines 5 strategic priorities: 1) business strategy and risk assessment, 2) finding right partners, 3) defining customer needs and product relevance, 4) selecting the right business or operational model, and 5) choosing the right markets. It then discusses managing risks in global expansion, including tangible risks related to markets, operations, and strategy, as well as intangible risks related to vision, culture, and processes. The document concludes by outlining actions an organization can take to foster a global mindset.
The document discusses strategic marketing decisions and outlines the evolution of marketing from Marketing 1.0 to Marketing 3.0. It then covers key aspects of strategic marketing like analyzing markets and competitors, formulating strategies and programs, and implementing marketing activities both covertly through research and analyses and overtly through the marketing mix. Market-driven strategies are also discussed which begin with understanding customer needs and forming a distinctive value proposition.
What makes up a good Competitive Intelligence program - Brian Groth - Feb 2013Brian Groth
Brian Groth’s view of some of the items that make up a good Competitive Intelligence program, which covers Overview & Approach, Getting Started, Supporting Sales & Marketing, and Taking your CI program further.
Marketing management involves applying marketing techniques and managing a firm's marketing resources and activities. The document discusses key marketing concepts like the marketing mix of product, price, place, and promotion. It explains the difference between sales and marketing, the scope of what can be marketed, and core marketing concepts like identifying customer needs and managing relationships in markets. The marketing process and external factors that influence marketing are described. Traditional and expanded views of the marketing mix are also presented, along with insightful quotes about marketing.
The document discusses lead generation and lead nurturing strategies for B2B sales. It begins by noting that today's B2B buyers are resistant to sales messages and too busy. It then outlines a buying process model and defines lead generation as building relationships by identifying the right contacts and initiating memorable conversations. The rest of the document provides steps and examples for developing a lead nurturing program, including understanding audiences, developing relevant messages, creating educational content, developing nurturing tracks, and measuring results. It concludes with a case study showing improved lead nurturing results.
This document discusses translating market research into product strategy. It begins by outlining the agenda, which includes the role of a product manager, market research techniques, and a product strategy model called value curves. It then discusses various market research techniques like surveys, social media insights, and secondary research that can provide inputs for product strategy. A key part of the strategy is identifying elements of performance and value that are important to customers through value curves, which help position a product competitively by focusing on desired elements. The document provides examples of how companies like Samsung used this approach to improve their market share. It also discusses applying these techniques to an online pharmacy company in India.
This document discusses how market intelligence can improve university planning and strategic marketing. It explores how market intelligence enables strategic and operational decision making. The document outlines key aspects of market intelligence like identifying customer requirements, understanding competitors, and gathering primary and secondary data. Finally, it emphasizes communication, asking the right questions, and balancing internal and external perspectives when using market intelligence.
Marketing de productos e innovaciones de alta tecnologíaGeneXus
This document discusses barriers and challenges to successful marketing in technology businesses. It notes that many technology companies believe their products are so innovative that marketing is not needed or that customers do not understand the technology. However, the document argues that both great technology and great marketing are needed for success. It outlines that marketing involves strategic planning, understanding customer needs, and tactical activities. While standard marketing tools can be difficult to apply to technology businesses, the document provides recommendations for successful approaches including developing marketing competencies, understanding customer industries, and targeting early adopter customer segments.
The document provides an overview of marketing concepts including definitions of marketing, the evolution of marketing approaches over time, key terminologies, and debates around whether marketing creates or satisfies needs. It discusses segmentation, targeting, and positioning (STP) as part of the marketing strategy, and the 4Ps (product, price, place, promotion). It also covers topics like SWOT analysis, situational analysis including environmental and internal analysis, marketing objectives and programs, budgets, and controls. The document is intended to educate attendees on fundamental marketing concepts and strategies over the course of a multi-hour workshop.
Formulating Your E-commerce Marketing StrategySavaş Şakar
Formulating Your E-Commerce Marketing Strategy discusses how to develop an effective e-commerce marketing strategy. It begins with establishing a business mission, objectives, and marketing objectives in a hierarchical structure. It then discusses determining e-commerce marketing strategy based on traditional marketing objectives as well as market-related technology issues. The document provides examples and tips for elements of an e-commerce strategy such as market segmentation, information products, site design, advertising, customer service, and pricing.
The document discusses several key marketing concepts:
1. It defines marketing as satisfying needs through exchange processes, with the goal of making selling unnecessary.
2. The marketing mix, or 4Ps (product, price, place, promotion), are controllable activities to produce a desired response from customers.
3. Marketing research helps identify problems and opportunities to improve decision making related to products, pricing, distribution, and promotion.
The document provides information on why business plans are important and what they should include. A business plan defines the business realities, reveals weaknesses, and allows stakeholders to understand the business. It should be prepared by the business owner and include an executive summary, company description, products/services, marketing plan, operations, management structure, funding needs, financial projections, and appendices. The business plan is presented to investors to gain their confidence in the business and investment opportunity.
This document provides an overview of marketing concepts. It begins by defining marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services. It then discusses key marketing terms like the marketing mix, marketing management, and the 4Ps of marketing. Several sections explain core concepts in more depth, such as the differences between sales and marketing, the scope of products that can be marketed, and frameworks for understanding customers and their needs. The document also covers strategic marketing and planning, discussing topics like the marketing environment, marketing objectives, and the components of a marketing plan. It aims to give the reader a well-rounded introduction to fundamental aspects of marketing.
Chapter 4 Conducting Marketing Research and Forecasting Demanddona_sia
Marketing research involves systematically designing, collecting, analyzing and reporting data to address marketing problems and objectives. Developing the research plan defines data sources, instruments, approaches, sampling plans and contact methods. Measuring demand involves estimating total market potential, area market potential, industry sales and market share. Forecasting future demand utilizes surveys, sales force opinions, expert opinions, past sales analysis and market testing.
This document provides an overview of marketing concepts for bankers. It defines marketing as the process of planning and executing ideas, goods, and services to create exchanges that satisfy goals. Marketing management involves choosing target markets and growing customer value. The marketing mix consists of the 4 Ps - product, price, place, and promotion. Additional concepts covered include the scope of products and services that can be marketed, the 4Cs customer framework, and differences between sales and marketing. The document emphasizes understanding customer needs and creating value as core to a customer-centric approach.
It’s important to understand the potential impact that a new disruptive technology might have on the marekt. The role of the Market Opportunity Analysis (MOA) is to help guide the process of better understanding of the most important market segments, how fast the opportuity is growing, what are the key sustainable differentiations and why are these important. Finally, the purpose of the MOA is to, on one hand, describe the key value propostions and to profile the most important use cases and how best to acquire customers.
We have prepared the following template which describes the MOA process and how outlines the factors for successfully growing market share. Our IRG MOA PowerPoint takes you through the key steps for learning about emerging market opportunities and using that learning to influence strategic decision making.
The document provides guidance for marketing in startups. It discusses the current economic environment which favors proven revenue streams and fast payback periods. It distinguishes strategic from tactical marketing and emphasizes the importance of understanding customers through conversations to develop and refine product concepts. The document advises marketing a solution to a well-defined customer problem and testing hypotheses directly with prospective customers.
This document provides an introduction to marketing presented by Dr. Brian Monger. It discusses:
1. MAANZ International, the organization providing the presentation, which has operated for over 25 years offering marketing courses, memberships, and publications.
2. An overview of marketing, defining it as the exchange of value between parties to satisfy human wants. Marketing plays a significant role in society and effective management is essential for organizational success.
3. The key components of any organization's business including a market, a value proposition/product, operations, and management to produce and offer a product for exchange.
Cesse 2012 Management Institute Nikki Walker - Bringing It All TogetherPeter Turner
The document provides strategies for organizations to successfully grow globally. It outlines 5 strategic priorities: 1) business strategy and risk assessment, 2) finding right partners, 3) defining customer needs and product relevance, 4) selecting the right business or operational model, and 5) choosing the right markets. It then discusses managing risks in global expansion, including tangible risks related to markets, operations, and strategy, as well as intangible risks related to vision, culture, and processes. The document concludes by outlining actions an organization can take to foster a global mindset.
The document discusses strategic marketing decisions and outlines the evolution of marketing from Marketing 1.0 to Marketing 3.0. It then covers key aspects of strategic marketing like analyzing markets and competitors, formulating strategies and programs, and implementing marketing activities both covertly through research and analyses and overtly through the marketing mix. Market-driven strategies are also discussed which begin with understanding customer needs and forming a distinctive value proposition.
What makes up a good Competitive Intelligence program - Brian Groth - Feb 2013Brian Groth
Brian Groth’s view of some of the items that make up a good Competitive Intelligence program, which covers Overview & Approach, Getting Started, Supporting Sales & Marketing, and Taking your CI program further.
Marketing management involves applying marketing techniques and managing a firm's marketing resources and activities. The document discusses key marketing concepts like the marketing mix of product, price, place, and promotion. It explains the difference between sales and marketing, the scope of what can be marketed, and core marketing concepts like identifying customer needs and managing relationships in markets. The marketing process and external factors that influence marketing are described. Traditional and expanded views of the marketing mix are also presented, along with insightful quotes about marketing.
The document discusses lead generation and lead nurturing strategies for B2B sales. It begins by noting that today's B2B buyers are resistant to sales messages and too busy. It then outlines a buying process model and defines lead generation as building relationships by identifying the right contacts and initiating memorable conversations. The rest of the document provides steps and examples for developing a lead nurturing program, including understanding audiences, developing relevant messages, creating educational content, developing nurturing tracks, and measuring results. It concludes with a case study showing improved lead nurturing results.
This document discusses translating market research into product strategy. It begins by outlining the agenda, which includes the role of a product manager, market research techniques, and a product strategy model called value curves. It then discusses various market research techniques like surveys, social media insights, and secondary research that can provide inputs for product strategy. A key part of the strategy is identifying elements of performance and value that are important to customers through value curves, which help position a product competitively by focusing on desired elements. The document provides examples of how companies like Samsung used this approach to improve their market share. It also discusses applying these techniques to an online pharmacy company in India.
This document discusses how market intelligence can improve university planning and strategic marketing. It explores how market intelligence enables strategic and operational decision making. The document outlines key aspects of market intelligence like identifying customer requirements, understanding competitors, and gathering primary and secondary data. Finally, it emphasizes communication, asking the right questions, and balancing internal and external perspectives when using market intelligence.
Marketing de productos e innovaciones de alta tecnologíaGeneXus
This document discusses barriers and challenges to successful marketing in technology businesses. It notes that many technology companies believe their products are so innovative that marketing is not needed or that customers do not understand the technology. However, the document argues that both great technology and great marketing are needed for success. It outlines that marketing involves strategic planning, understanding customer needs, and tactical activities. While standard marketing tools can be difficult to apply to technology businesses, the document provides recommendations for successful approaches including developing marketing competencies, understanding customer industries, and targeting early adopter customer segments.
The document provides an overview of marketing concepts including definitions of marketing, the evolution of marketing approaches over time, key terminologies, and debates around whether marketing creates or satisfies needs. It discusses segmentation, targeting, and positioning (STP) as part of the marketing strategy, and the 4Ps (product, price, place, promotion). It also covers topics like SWOT analysis, situational analysis including environmental and internal analysis, marketing objectives and programs, budgets, and controls. The document is intended to educate attendees on fundamental marketing concepts and strategies over the course of a multi-hour workshop.
Formulating Your E-commerce Marketing StrategySavaş Şakar
Formulating Your E-Commerce Marketing Strategy discusses how to develop an effective e-commerce marketing strategy. It begins with establishing a business mission, objectives, and marketing objectives in a hierarchical structure. It then discusses determining e-commerce marketing strategy based on traditional marketing objectives as well as market-related technology issues. The document provides examples and tips for elements of an e-commerce strategy such as market segmentation, information products, site design, advertising, customer service, and pricing.
The document discusses several key marketing concepts:
1. It defines marketing as satisfying needs through exchange processes, with the goal of making selling unnecessary.
2. The marketing mix, or 4Ps (product, price, place, promotion), are controllable activities to produce a desired response from customers.
3. Marketing research helps identify problems and opportunities to improve decision making related to products, pricing, distribution, and promotion.
The document provides information on why business plans are important and what they should include. A business plan defines the business realities, reveals weaknesses, and allows stakeholders to understand the business. It should be prepared by the business owner and include an executive summary, company description, products/services, marketing plan, operations, management structure, funding needs, financial projections, and appendices. The business plan is presented to investors to gain their confidence in the business and investment opportunity.
This document provides an overview of marketing concepts. It begins by defining marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services. It then discusses key marketing terms like the marketing mix, marketing management, and the 4Ps of marketing. Several sections explain core concepts in more depth, such as the differences between sales and marketing, the scope of products that can be marketed, and frameworks for understanding customers and their needs. The document also covers strategic marketing and planning, discussing topics like the marketing environment, marketing objectives, and the components of a marketing plan. It aims to give the reader a well-rounded introduction to fundamental aspects of marketing.
Chapter 4 Conducting Marketing Research and Forecasting Demanddona_sia
Marketing research involves systematically designing, collecting, analyzing and reporting data to address marketing problems and objectives. Developing the research plan defines data sources, instruments, approaches, sampling plans and contact methods. Measuring demand involves estimating total market potential, area market potential, industry sales and market share. Forecasting future demand utilizes surveys, sales force opinions, expert opinions, past sales analysis and market testing.
This document provides an overview of marketing concepts for bankers. It defines marketing as the process of planning and executing ideas, goods, and services to create exchanges that satisfy goals. Marketing management involves choosing target markets and growing customer value. The marketing mix consists of the 4 Ps - product, price, place, and promotion. Additional concepts covered include the scope of products and services that can be marketed, the 4Cs customer framework, and differences between sales and marketing. The document emphasizes understanding customer needs and creating value as core to a customer-centric approach.
Similar to Market Research 1 2 3, for LA2M, Lunch Ann Arbor Marketing (20)
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
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Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
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Market Research 1 2 3, for LA2M, Lunch Ann Arbor Marketing
1. Creative IDeas Marketing
Interim Marketing and Service Product Management
Market Research 1-2-3
For LA2M, 22nd October 2008
Dee Davey l Creative Ideas Marketing
www.creativeideasmarketing.com
dee.davey@creativeideasmarketing.com
Creative IDeas Marketing
Interim Marketing and Service Product Management
2. Market Research 1-2-3 Outline
Dee Davey, Owner of Creative Ideas Marketing talks
to LA2M (Lunch Ann Arbor Marketing) group about
how to do basic market research in order to better
understand customers' needs:
1. Why
2. What (to do) - Situation Analysis
1. Internal Discovery
2. External Market & Competitive Review
3. Test / Validate Understanding
3. How
Creative IDeas Marketing
Interim Marketing and Service Product Management
3. Why Do Market Research?
Know / Understand Customer Needs
• Match Core Competencies to customer need
• Offer right things to the right customers for the right reasons
• Ensure you can make $ (Is market big enough for our idea?)
• Will customers buy? How are we different / better?
• Build Brand
• Build Messaging
• Build Product / Service
Creative IDeas Marketing
Interim Marketing and Service Product Management
4. Why Do Market Research?
Know / Understand Customer Needs
• Customer Drivers
• Customer Buying Behaviors
• Size of Customer Opportunity
• Core Competencies
• Value Offered
Identify Need & Match to Business Capability
Creative IDeas Marketing
Interim Marketing and Service Product Management
5. Market Research – The What
Situation Analysis / Market Research
1. Internal Discovery
• Customer needs, issues, drivers, benefits most valued
• Competencies, capabilities
2. Market & Competitive Analysis
• Market size, growth
• Economic, bargaining power
• Industry, competitive
• Environmental, technological,
• Political, legislative .
3. Validate Understanding
• Customers, Partners, Stakeholders
• Industry Leaders, Media, Other
Creative IDeas Marketing
Interim Marketing and Service Product Management
Proprietary & Confidential 5
6. Market Research – The What
Situation Analysis / Market Research
1. Internal Discovery
• What do we know?
• What don’t we know?
2. Market & Competitive Analysis
Market
• Is there a market? How big?
Offer
• What is out there? What in similar industries?
Competition
• What can we learn? .
3. Validate Understanding
Creative IDeas Marketing
Interim Marketing and Service Product Management
Proprietary & Confidential 6
7. Situation Analysis
• Internal Discovery Internal Discovery – What
• Market Analysis
• Validation Understanding Customer Needs
Internal Discovery – What
• Customer needs - Issues, Drivers, What is
important?
• What do customers most value?
• What do customers say about us?
• How do our customers engage with us?
• What are our internal processes?
• What are we really good at doing?
• How do we compare with our competitors?
Creative IDeas Marketing
Interim Marketing and Service Product Management
8. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Understanding Customer Needs
Internal Discovery – How
• Information Workshops
• SWOT – Strengths, Weaknesses, Opportunities,
Threats
• Process Based Workshops
Interviews include Partners and other Stakeholders
Creative IDeas Marketing
Interim Marketing and Service Product Management
9. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Information Workshops
Information Workshops
Objective: Clarify thinking; Spot customer, market,
competition knowledge gaps, Gain concensus
• Cross Company View
• Different Internal Perspectives
• Organize Questions
Topics / Sales Service Past Customer Business Trends Competition Specifics
Example: Individual or
Team
Process Process Marketing Needs Capabilities
Discussion
Methods / Needs SWOT
Tools
Practitioners Hot Buttons Best
Why IMS Drivers Uniqueness
Consultants
Problems Why Us?
Value sought
Individual A XXXXXXXX XXXXXXXX
XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX
Individual B XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX
Teams A XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX
Team B XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX
Creative IDeas Marketing
Interim Marketing and Service Product Management
10. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Information Workshops
Information Workshops
Chart 1) Market Need / Customer Buying Behavior –
Commercial Opportunity Purchaser Responsible for Equipment
Example Importance//Need for Ex W
Commercial Local A Good Opportunity
•Have budgets
Gym Mgr or Gen
Mgr – Different by
•Maintenance Mgr
•Facilities Mgr
•Want no hassle service •Gym Mgr
Opportunity •Ops Split
Account
•Gym Team
by Type of
Customer
Corporate Good Opportunity •Management Co
•Like clubs don’t want to fail customers Or
•Have budgets •Site Mgt
Hotels, Good Opp for Non-Chain for SC & Ex W •Group Purchasing •Independent: Facility Mgr /
Resorts & •Service important to increase throughput to •Gym Mgr Duty Mgr
Spas hotel •Fitness Team •Chain: Ops / Gym Team
•Staff not motivated to maintain •General Mgr
Professional Low Opportunity •Sports Team •Training Team (make
Sports •Few clients / not enough business •Training Team contact for Service
Teams •Big players – want it for free •Physio
Creative IDeas Marketing
Interim Marketing and Service Product Management
11. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Information Workshops
SWOT
Objective: Evaluate business Strengths, Weaknesses,
Opportunities and Threats – relative to business or
project goal
• Internal / External
• Favorable / Unfavorable Factors
• Your business
• Each of Your Main Competitors
Example:
Creative IDeas Marketing
Interim Marketing and Service Product Management
12. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Information Workshops
SWOT - Strengths, Weaknesses, Opportunities and Threats
Chart 7) Service SWOT - Customer Feedback / Analysis
Example: Strength Weakness
•Good Brand •Time to call out
•Global •Parts Orders
•Tools for the Job •Updating client
•Phone Responsiveness ( lack of feedback: parts, engineer can’t
•1st Time Fix make it)
•Flexibility •Communication – ourselves
•No AVR – personal •Communication – Customers
•Good Relations with Clients •Communication – 3rd party
•Well liked / Trusted •Documentation
•Persuasive/Convincing
•Knowledge & Abilities of Engineers
•Well trained Engineers
•Offer training
Opportunity Threat
•Many HO Projects Planned •Poor courier service
•Contracts to Private Clubs •Parts order/receipt process in gyms
•End of Warranty Renewal Alerts (staff don’t know what to order / why or what
•PM Cleaning / Lub / Parts Kits at point of something has come – Dee see DX)
call out or installation •Ran out of Time and Steam
•Offer of SC at point of Call Out – Tina
already doing?.
Post Workshop Customer Discovery -
Opportunity to Differentiate:
•Contact Programme Comms Strategy
Creative IDeas Marketing •Fix Parts Process
Interim Marketing and Service Product Management
13. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Process Based Workshops
Process Based Workshops
Objective: Gain an internal perspective of customer needs at
key steps of sales and service delivery processes
• Sales / Service delivery cycle
• Customer touch-points
• Different perspectives of the business
• Untapped information within the business
• Draw out what customers have already told you through
day-to-day interaction
Example: PTO
Creative IDeas Marketing
Interim Marketing and Service Product Management
14. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Process Based Workshops
Example: Process Workshops
Outgoing to DX
Cust Cust Outgoing non DX B2B
Buys Uses Outgoing Royal Mail
(Signs Up) Outgoing Carriers
Ask Customers what they Want-Need/
Balance against What DX can deliver]
Receives Outgoing Mail Outgoing Internal
(A) Consumables
(C)
/ Tech (B) Income from DX
Income Royal Mail
Incoming Mail Income Carriers
(D)
Income Internal
Consumable
Re-order (E)
Tracking Process (F)
Interact with DX via People
Interact with DX via Technology
DX DX Receive / Pay Bill
Sells Deliver (G)
Creative IDeas Marketing
Interim Marketing and Service Product Management
15. Situation Analysis
• Internal Discovery Internal Discovery – How
• Market Analysis
• Validation Process Based Workshops
Example: Process Based Workshops
Customer Touch Points / Sales-Installation-Delivery Process
Phone
/
• Who (customer) is Meeting
/
interaction with Site visit – do plan
/
demo
/
• What are expectations proposal (product/support
/
phone / fax (Depending on A/C) follow-up call
/
Customer raise purchase order
• What are business /
Customer sends order to Nautilus
capabilities /
Rep informs Customer of Delivery Date
/
Deliver to Site
/
Full Installation
/
Follow Up by Rep 24 hours
/
Phone / Visit Depending on Size of A/C
Creative IDeas Marketing
Interim Marketing and Service Product Management
16. Situation Analysis Market Analysis - What
• Internal Discovery
• Market Analysis Listening & Talking
• Validation
with Your Customers
Market Analysis – What
• Gather Information
• Trends and market drivers
• Industry vertical market penetration
• Industry purchasing behaviors
• Competitive Assessment
• Opportunities and threats
• Position your business within the context of competing
companies, methods, alternative sources of a business
offer
• Identify Niche Pockets of Opportunity
• Sociological, technological, environmental, economic,
environmental, legislative and political changes
Creative IDeas Marketing
Interim Marketing and Service Product Management
17. Situation Analysis Market Analysis - How
• Internal Discovery
• Market Analysis Listening & Talking
• Validation
with Your Customers
Primary - Traditional Research
1-2-1 Interviewing
• In depth, enlightening, opens doors to unforeseen opportunities!
Traditional Surveys & Web Surveys
• Formulate questions… and ask!
• www.surveymonkey.com
Focus Groups
• Interactive, multiple customer views, new idea generation
Creative IDeas Marketing
Interim Marketing and Service Product Management
18. Situation Analysis Market Analysis - How
• Internal Discovery
• Market Analysis Listening & Talking
• Validation
with Your Customers
Primary - New Media / Technology Research
Forums / Communities
• Brand monitoring, listening in to customer views
Blogs
• Using conversations with customers to learn wants & needs.
Social networking
• Asking questions to learn customer wants & needs
• Visible presence
• Open communication
• Product development / offer improvement
Creative IDeas Marketing
Interim Marketing and Service Product Management
19. Situation Analysis Market Analysis - How
• Internal Discovery
• Market Analysis Listening & Talking
• Validation
with Your Customers
Primary - Alternative Research
Process Based with Customer
• As discussed earlier
Review Similar but Different Industries
• Example: Nautilus Extended Warranty
Talk with Competitors / Potential Partners
• Different “niche” areas – partner opportunity
• “Pie is big enough”
• Different location
Creative IDeas Marketing
Interim Marketing and Service Product Management
20. Situation Analysis Market Analysis - How
• Internal Discovery
• Market Analysis Listening & Talking
• Validation
with Your Customers
Secondary - Market Analysis
Websites - Industry, Competitor, Customer-specific information
Wikipedias - An open community encyclopedia
Databases - Some available “free” through public libraries
Industry Reports - Expensive but comprehensive
• www.marketresearch.com – Listing of reports
• Direct to market research sites for listings
Industry Report Abstracts - Find “free” snippets of industry trends
• Method 1- Via blogs, reviews
• Method 2 - Some “free” via Reference USA
Creative IDeas Marketing
Interim Marketing and Service Product Management
21. Market Analysis - How
Find Information – Search Method 1
Via blogs, comments on the web
Find a Relevant Report
(www.marketresearch.com, any research company site)
i.e. Emerging Technology Trends via Garnter.com
l
Google the Author
(www.marketresearch.com, any research company site)
i.e. Jackie Fenn
l
Read Reviews and Blogs
Creative IDeas Marketing
Interim Marketing and Service Product Management
22. Market Analysis - How
Find Information – Search Method 2
Use Reference USA to tap into published reports
Search a Known Player in Your Target Industry
(or find a company name using SIC or NAICS codes)
l
Look in Company News Section
l
Text Versions of Articles, Press Releases and
Industry Related Reports
Creative IDeas Marketing
Interim Marketing and Service Product Management
23. Research / Segmentation Process
Use Market Intelligence Select & Prioritize potential markets
⇓ ⇓
Which markets currently purchase? Build / define target customer profile
⇓ (Purchaser/buyer profile)
Which segments have “pain”? ⇓
(Match need/pain to Competency) Create value proposition for selected
⇓ markets & define specific offer
Opportunity by geographic constraints for selected market
⇓ ⇓
Which areas are growing / shrinking? Go Test
(US gov statistics, SBTDC, MEDC etc) ⇓
⇓ Refine strategy / offer based on
Estimate opportunity size / potential feedback.
(i.e. by value of purchasing behavior) ___
Creative IDeas Marketing
Interim Marketing and Service Product Management
24. Government Data & Information
Census.Gov - http://www.census.gov
• U.S. Census Bureau - drill down to custom data
Factfinder - http://www.factfinder.census.gov
• U.S. Census Bureau site - useful for local level data
Michigan.gov - http://www.michigan.gov
• Good engine. Good for legislative information
SEMCOG (Southeast Michigan Council of Governments)
• Demographic Info
• Traffic Count + Historical
Northwest Michigan Council of Governments
• Fed/Mi data broken down into Regional data
• These guys are data-nuts. If government data exists, they have it
Creative IDeas Marketing
Interim Marketing and Service Product Management
25. Situation Analysis / Market Research
Summary
• Internal
• Interviews / Workshops / Group knowledge
• Review of existing documentation
• Market & Competitive
Primary Secondary
• 1-2-1 Interviews • Market research reports
• Surveys / Web surveys • Public / Private
• Workshops (inc process) databases
• Focus Groups, user forums, • Business libraries
communities, blogs, social • Government statistics
networking • Public information
• Other industries / competitors
Creative IDeas Marketing
Interim Marketing and Service Product Management
26. Situation Analysis
• Internal Discovery
• Market Analysis Validate
• Validation
Validation – What
Clarify Your Understanding
Validation - How
Go Back and Ask Your Customers!
Starts and Ends with YOUR CUSTOMER
Creative IDeas Marketing
Interim Marketing and Service Product Management
27. Q&A
Dee Davey, Creative Ideas Marketing
dee.davey@creativeideasmarketing.com
www.creativeideasmarketing.com
Creative IDeas Marketing
Interim Marketing and Service Product Management
28. Biography
Dee Davey helps businesses become more successful by delivering
strategic market planning, service product development and business operations
improvement projects; primarily for companies who offer technology or business
services to their customers. Her interim marketing business, Creative Ideas
Marketing, started in 2004 in the UK, helps companies adapt and extend client
service offers, helps clients find new sources of revenue and brings ideas for
new service products to life. Creative Ideas Marketing helps businesses who
want to take the next step in marketing their business, but lack the resource or
time to pull it all together.
Dee has extensive marketing experience engaging with mid-sized to major multi-
national technology & service companies including AT&T/NCR, Siemens,
Vodafone, Hays DX, StairMaster and Nautilus. An international marketer
resident in England for 30 years, Dee has a unique ability to view and
understand global marketing issues from a different perspective. Relocated to
Michigan, Creative Ideas Marketing services clients primarily in technology,
telecommunication and health and fitness industry sectors. Dee achieved her
Professional Diploma in Management from the Open University, Open Business
School in 1991, and in the same year her Diploma in Marketing Management
from the United Kingdom’s most stringent professional marketing body, the
Chartered Institute of Marketing.
Creative IDeas Marketing
Interim Marketing and Service Product Management