2. So What is Market Intelligence?
The Importance of Information
“Knowledge is power”
quot;Know thy enemy and know thyself, find naught
in fear for 100 battles. Know thyself but not
thy enemy, find level of loss and victory.
Know thy enemy but not thyself, wallow in
defeat every time.quot;
Sun Tzu – 6th Century B.C.E.
3. So What is Market Intelligence?
Systematic gathering, recording and analyzing of data
about phenomena related to the marketing of goods
and/or services
American Marketing Association, 1995
Information relevant to a company’s markets, gathered
and analyzed specifically for the purpose of
accurate and confident decision making in
determining market opportunity, market penetration
strategy, and new market development metrics.
Wikipedia – 2005
4. Signs You Need Market Research:
Lots of ideas but need to coalesce and properly
analyze information
Information overload – lots of information to analyze
Not enough experience in researching the market
“Time is Money” – I don’t have the time and why do
research when I can get someone else to do it faster
and more effectively
Resources – when the internet is just not enough!
Need to do things right the first time!
5. What should I research?
Current and Potential Customers
•
What kind of people are they? (What do they like?)
•
Where do they live?
•
Are they able to buy? – Will they?
•
Am I offering the right product?
•
Is my pricing consistent with what buyers value?
•
What do customers think of my business?
•
How do I compare with my competitors?
•
What are the avenues in the supply chain?
•
What is my market risk, penetration, returns?
•
Does my product have cross-over points with other sectors
•
What is the Regulatory Environment?
•
These questions formulate the “Intelligence Question”
“THE WORKING BRIEF”
6. Defining Market Opportunities
Much of business today is derived from a
number of assumptions about the market
and how it works
These assumptions are arrived at through
rumor, news articles, opinion
Behavior – “This is how we’ve always done
it”
leverages experience but misses market
changes
7. Defining Market Opportunities
Launching a new service or product
Raise awareness
Product or service utilization
Poor company/product reputation or image
Problems with distribution
Trends in the defined market
Patterns of future trends
8. What to Consider:
Professional research
Timetable
Budget
Key and clear research brief objectives
Selection of research types
9. Advantages of Professional
Research and Analysis
Timely
Current
Consultative
Known, fixed budget. No added headcount.
Broad range of knowledge
Access to information on key markets
Knowledge of how to utilize information
Helps you make intelligent decisions quickly
10. How Conscientia Research can
help your company
Learn about market trends, and how to take advantage of
those trends.
Learn your competitors strengths and weaknesses.
Find how regulatory and legislative issues can affect your
business.
Conscientia provides recommendations to help your
business grow.
Provides market intelligence and research
Serves Small-Medium Size Businesses
Utilizes rigorous and robust research methodology
Fully customized approach
Client references available
11. Thank you
Jim Cooper – Research Analyst – Conscientia Research
www.ConscientiaResearch.com • 626-905-4626 • Jim@ConscientiaResearch.com
Conscientia Research • Monrovia , CA
