The document discusses the importance of continuous learning and information sharing across organizational teams to anticipate opportunities and threats, challenge assumptions, and quickly adapt to competition through processes like collecting external market data, diagnosing issues collectively, and ensuring diverse perspectives are considered. It also provides examples of sources an organization can use to gain market insights, such as marketing research, information systems, and competitive intelligence analysis from reviewing competitors' websites and ads. The overall goal is for organizations to have accessible memory of valuable market information and leverage mutual interpretations to make informed decisions about future changes.

1. Strategic Marketing Session 4
Continuous Learning for Markets
16th Oct, 2015
Lecturer: Anik Saha

2. 2
Market Orientation & Organizational Learning
Information
Collection
Shared
Diagnosis
Ensure
• Opportunities and Threats not ignored
• Include External learning sources like suppliers,
non-competing biz, consultants etc.
Why Important?
• ‘Spread and Share’ towards Vision across teams (Communication/Coordination/Conflict resolution)
• Challenge prevailing beliefs, assumptions
• Ability to anticipate and act on opportunities or threats
• Quick reaction to competition
• Improve the quality of services and Introduce new services
• Reduces time to go to market with new product development

3. 3
Learning About Markets and Information/Analysis & Action
Objective
Enquiry
Distribution for
Synergy
Mutually
Informed
Interpretations
Mutually Informed
Interpretations
• Org. Open to accept new information to avoid threats
• Include Ecosystem views as market sensing for cognitive decisions
• Leverage info to counter competitive/value migration threats
• Sharing info for different perspectives and final alignment
• Removes functional & operational blocks
• Drives coherence, collaboration
• Reach at possible interpretations after debate
• Decide future directions of change
Accessible Memory • Acquire and protect information
• Not lose valuable information
Utopia Field of
Dreams
Things to
Watch
Danger Potential
Risks
1
2
5
7
High Medium Low
Probability of Event occurrence
Effect of Event to
Organization
(1-7, Bad to Good)
Marketing Research Information Information Systems Other sources

4. 4
Sources of Marketing Insights
Collect Existing Information
Standardized Information Services
Special Research Studies
Marketing Research Information Information Systems
Definition of Problems
Limitations
Quality of Research
Evaluation & Selection of Suppliers
Cost
Qualitative Research
MIS
Database Systems
Decision Support
Systems
(depends on size/complexity of orgs, internal
info available within Org)
Purchase external standard database, not
customized
Customized to need,
Project includes
various
tests/hypothesis
and segmentation
(if reqd)
Raw System data within org,
formatting required, extracting
reqd information, sales report,
operations report
Consists database, display,
models, analysis
Source of information,
Identify pattern of database,
Use mining technology
Other Sources
CRM
Competitor
Intelligence
Customer feedback, interviewing
suppliers/channels, alliance with
competition, hiring competitor
employees, evaluate competition
products

5. 5
Example of Market Insight with Competitive Intelligence
Source: Flipkart, Amazon, Snapdeal websites and advertisements

6. 6
Acknowledgements:
• Strategic Marketing: Authors: David W. Cravens & Nigel F. Piercy