Introduction to a Market Intelligence Audit.

1. M O RAWS K I
Market intelligence & Brand coaching
The Market Intelligence Audit
An introduction

2. Contents
1.
The subject of the audit: Market Intelligence
2.
Objective of the market intelligence audit
3.
Methodology
4.
Techniques used
5.
Auditor qualifications
6.
Benefits
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching

3. 1. The subject of the audit: Market Intelligence
Marketing Intelligence …
•
is the discipline that aims to manage (identify, capture, process, communicate and stimulate optimal
use) relevant market information/insights in order to support internal stakeholders
•
needs in order to manage properly
 professional and experienced people with managerial, organizational, analytical and
communicational skills
 data and field resources (secondary and primary research, information providers, research
agencies)
 technology and the platforms to capture, process, distribute and store the
information/insights
 the support of, and access to top management
•
can cover relevant market information/insights of the actual status and future trends of
 the market:
 consumer/customer (needs, motivations, perceptions, behavior, socio-demo’s,
segmentation, satisfaction, loyalty, recommendation/advocacy, …)
 brands (brand funnel, image, communication, market share volume/price, strategy, …)
 products/services (benefits, volume, price, promotion, packaging, NPD, …)
 channels (own sales, direct sales partners, integrators, distributors, emerging channels)
 competitors (consumer/customer, brands/products/services/channels, strategy,
organization, capabilities, investments, stock reports, …)
 new markets (emerging markets, potential, …)
 the relevant macro environment (economic, political, demographic, social, cultural,
legislation, technological, …)
•
supports internal stakeholders: marketing, communication, PR, business intelligence, sales and
account management, CRM, finance, strategy, business development, board, executives, R&D, …
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching

4. 2. Objective of the market intelligence audit
The main aim of the market intelligence audit is
•
•
•
•
a systematic and independent examination
of the quality of collection and use of information and insights
in order to manage market information resources effectively
so that marketing and organizational objectives are met
The purpose of the auditing is to
• diagnose: discover, check, verify and control

identification of users’ information needs (need to knows and not nice to knows)
as well as how well these needs are met by the providers (internal and external)
• improve: give advice for optimization of information and knowledge management
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching

5. 3. Methodology
PHASE
WHAT
HOW
Promote
Obtain support from management and
co-operation from staff
Communication to all stakeholders of the
objectives, methodology, procedures
- Auditor
- CEO/CMO
Define
Familiarize with the environment within
which the market intelligence audit is
going to be performed
Review of corporate/marketing/market
intelligence objectives
- Auditor
Plan
Proper and detailed planning of the
scope, contacts, agenda, practices,
resources, documentation to be
reviewed, activities and timelines
-
Submitting a proposal to management
Designing of questionnaires
- Identification of interviewees
- Approval by management
- Auditor
- CEO/CMO
Assessment of the actual market
intelligence activities and identification
of information needs
- Current state and quality of information
resources, use, flows and management
- Information needs assessment
- Desk study, Interviews, check lists, self
completion questionnaires
-
Analyze the findings
-
Value and relevancy of current state
and quality, and relation with the needs
- SWOT, KPI’s
-
Collect
Analyze
WHO
-
-
-
Auditor
All internal
stakeholders
Auditor
Internal
stakeholders
Report
Consolidate the collected data and the
analysis of these data into a final
report with a strategic intelligence
blueprint
- Written report
- Oral presentation
- Auditor
Follow up
Implement monitoring mechanisms
- Proposals of procedures that can be
used to monitor future market
intelligence activities
- Implementation
-
Market Intelligence Audit
-
Auditor
CEO/CMO
© 2011 John Morawski
Market intelligence & Brand coaching

6. 4. Techniques used
• Desk study
• Check lists
• Interviews
• Focus groups
• Self-administered questionnaires
• SWOT analysis
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching

7. 5. Auditor qualifications
A good market intelligence auditor …
• has




a broad and in-depth experience in market intelligence
an inquiring mind
a natural affinity and passion for problem solving
excellent organizational, communicational and people skills
• must be
 methodical, logical and punctual in his work
 objective both in formulating his opinions and in expressing them without bias
• is able to
 build trust
 listen and observe
 show sensitivity
 probe matters to the bottom
 see the big picture
 synthesize
• is independent, flexible without loosing focus, tenacious, knowledgeable, concise,
analytical, approachable, diplomatic, integer, logical , tactful, …
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching

8. 6. Benefits of a market intelligence audit
• Unbiased recommendations from an independent expert
• Evaluates actual market intelligence activities
• Benchmarks actual market intelligence performance
• Helps clarifying needs
• Triggers key areas for improvement
• Improves ROI - Better allocation of resources (people and budget)
• Stimulates interaction between stakeholders
• Frees the organization from politics, blame-game and excuses for weak performance,
reinforcing a culture of professionalism
• Lends/Reinforces credibility of the MI department
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching

9. John Morawski
Market intelligence & Brand coaching
Rogery 55
6671 Bovigny
Belgium
GSM +32 (0)477 62 18 75
E-mail: john.morawski@skynet.be
Blog of John Morawski
“It is tempting, if the only tool you have is a hammer,
to treat everything as if it were a nail”
(“The psychology of science: a reconnaissance.”,
Henry Regnery, Chicago, 1966.)
Market Intelligence Audit
© 2011 John Morawski
Market intelligence & Brand coaching