Market research services sylvia wower


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Market research services sylvia wower

  1. 1. Slide 1 Market Research Services- Basic Approach Overview DVIRC 2905 Southampton Road Philadelphia, PA 19154 The Navy Yard Building 100 Innovation Center 4801 S Broad St, Suite 100 Philadelphia, PA 19112
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  3. 3. Slide 3 About Our Process: DVIRC’s Market Research Approach Has Been Constructed To help Grow Our Client’s Business Value. As such, our research is designed to help Businesses Pursue: Growth in Sales, Growth in Profitability and Success in Execution.
  4. 4. Slide 4 The Roll of Market Research In a Competitive Strategy In strategic planning it is highly recommended that components of Primary & Secondary Research be included as tools to:  Validate Perceived Organizational Strengths  Scout Out – Feasible Market Opportunities  Call out and/or Confirm Weaknesses & Threats  Define Competitive Landscape & Intensity
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  6. 6. Slide 6 Putting The Right Resources to Work…. Using the right tools at the right time makes our projects more impactful. We keep the following in our Growth Planning Tool Kit:  Primary Research / VOC- Current, Former & Prospective  Secondary Research Pools/ Data Analysis Experts  Category Analysis Experts and simple to use tools, (i.e. Boston Matrix)  Expert Competitive Interviews, Competitive Analysis/ Five Forces  International Market Perspectives and Insights  Available Experts from RTI International, NIST and more
  7. 7. Slide 7 Primary & Secondary Research can help answer common defining questions like:  Where are we?  What do we have to work with?  Where do we want to be?  How do we get there?
  8. 8. Slide 8 We recommend defining your objectives then mapping an approach
  9. 9. Slide 9 We Structure Give yourself a defined schedule and stick to it!
  10. 10. Slide 10 Moving forward With Primary Research: Survey process involves: A.Defining Survey Groups • Current/Former Customers • Competitors • Prospective Customers • Current Industry • Industry and Market Scouting • Industry leaders A.Survey Creation and Client Review / Approval/ Revisions. B.Survey Introduction to Customers C.One-On-One customer surveying and data collection/ documentation. D.Real time data gathering and reporting E.Re-group on progress/address options surrounding elusive contacts F.Survey Findings & Analysis Report & Presentation G.Action Plan
  11. 11. Slide 11 Primary Research is a great tool to help in understanding the value that the market places on your unique Value Proposition. It can also enable you to move ahead quickly, leapfrogging situations that foster intense rivalry (or a race to the bottom with regards to price positioning). .
  12. 12. Slide 12 Design Your Survey Questions and Get Started good better best
  13. 13. Slide 13 Are there any areas in which our company falls short when compared to other suppliers? What, if anything, we can do to win more of your business? “They tend to be pretty arrogant, it's their way or the highway, so they are not very customer- oriented. It is not any one individual. It is just their company philosophy.” Big Client, John Smith, Head Engineer After the Outreach Aggregate your Data
  14. 14. Slide 14 Generic Example of our Primary Research In Strategic Planning Please note: Comments are copied verbatim and include grammar as received from survey respondents. “I think if they continue the sales support and new product development, what they have been doing is great, but their backorder issues are always a hindrance.” (Fosters and Smith) “Have more product available, not zero out my POs for lack of stock.” (All Pet Supply) “The obvious would be not too many price increases, keeping their pricing competitive. Their packaging is wonderful. It's a good line; it's just a matter of placement and pricing.” (Royal Pet Supply) IncreaseIncrease ProductProduct AvailabilityAvailability IncreaseIncrease ProductProduct AvailabilityAvailability “I guess maybe lower their minimums for ordering to help us. That would probably be the biggest thing.” (Nash Finch) CompetitiveCompetitive PricingPricing CompetitiveCompetitive PricingPricing LowerLower MinimumsMinimums LowerLower MinimumsMinimums Add Larger Size Bags Add Larger Size Bags “Add larger size bags.” (Bradley Caldwell) “Open up a warehouse in the Midwest. No, I am satisfied with Brown's and what they do.” (General Pet Supply) ExpandExpand DistributionDistribution ExpandExpand DistributionDistribution What, if anything, could we do to win more of your business?
  15. 15. Slide 15 Among wild bird product suppliers, 44% projected 5-10% growth. Among companion pet product suppliers naming a growth rate, most projected 5-10% growth. What are your 12-month growth outlook and strategy for the wild bird/companion pet categories? Please note: Percentages may not add to 100% due to rounding. Wild Bird Companion Pet
  16. 16. Slide 16 Understanding Secondary Research: Most of us are familiar with secondary research from doing library research with books and periodicals. With secondary research, someone else has done the actual data-gathering in the field and has written it up in a form that's easier for you to use. Secondary research is generally much less time- consuming and cheaper than primary research.
  17. 17. Slide 17 What Do You Need to Know For Your Growth Plan? Start With a Look at Who is In Your Market
  18. 18. Slide 18 Industry Trends and Outlook Food manufacturing Annual Indicators Units 2008 2009 2010 2011 2012 Revenues Revenues - Public Companies Mil. $ 100,487 100,101 111,724 130,338 142,748 change year ago % 11.0 -0.4 11.6 16.7 9.5 Cement Production Mil. $ 9,925 8,645 9,099 10,188 11,172 change year ago % -16.1 -12.9 5.2 12.0 9.7 Crushed Stone Production Mil. $ 17,638 17,145 16,726 18,684 21,643 change year ago % 34.5 -2.8 -2.4 11.7 15.8 Sand & Gravel Production Mil. $ 8,072 7,965 8,101 8,570 9,162 change year ago % 8.9 -1.3 1.7 5.8 6.9 Chemicals Quarterly Indicators Units 2008 2009 2010 2011 2012 Revenues Revenues - Public Companies Mil. $ 582,752 558,355 615,954 699,963 784,308 change year ago % 16.2 -4.2 10.3 13.6 12.0 Shipments - Basic Chemicals Mil. $ 725,427 730,576 760,822 807,459 847,880 change year ago % 9.2 0.7 4.1 6.1 5.0 Shipments - Agricultural Chemicals Mil. $ 43,158 47,861 50,677 53,716 56,821 change year ago % 31.4 10.9 5.9 6.0 5.8 Shipments - Paints & Adhesives Mil. $ 33,641 34,997 36,209 37,760 39,354 change year ago % -0.9 4.0 3.5 4.3 4.2 Knowing The Industry Drivers Can Keep You In Front of Growth Trends
  19. 19. Slide 19 High-Level Industry Segmentation (continued) Top 20 industry segments by number of establishments (reference table to aid in calculating CONNSTEP’s market penetration) Line of Business Primary SIC Establishments Printing, Publishing, And Allied Industries 27 1819 Industrial And Commercial Machinery And Computer Equipment 35 1570 Miscellaneous Manufacturing Industries 39 1118 Fabricated Metal Products, Except Machinery And Transportation Equipment 34 1090 Lumber And Wood Products 24 754 Electronic And Other Electrical Equipment And Components, Except Computer 36 721 Measuring, Analyzing And Controlling Instruments 38 585 Chemicals And Allied Products 28 514 Food And Kindred ProductsInclude Criteria 20 406 Transportation Equipment 37 368 Apparel And Other Finished Products 23 346 Rubber And Miscellaneous Plastics Products 30 307 Stone, Clay, Glass, And Concrete Products 32 284 Paper And Allied Products 26 230 Furniture And Fixtures 25 217 Primary Metal Industries 33 215 Textile Mill Products 22 146 Leather And Leather Products 31 80 Petroleum Refining And Related Industries 29 47 Tobacco Products 21 7
  20. 20. Slide 20 Compile Relevant Secondary Data Points for your Strategy Aerospace and Defense - Annual Forecast Table Annual Indicators Units 2009 2010 2011 2012 Revenue Sales Revenues Mil. $ 415,931 433,620 448,576 483,721 change year ago % 8.7 4.3 3.4 7.8 Major Diversified Companies Mil. $ 218,647 226,099 226,862 240,880 change year ago % 8 3.4 0.3 6.2 Aerospace & Defense Suppliers Mil. $ 197,284 207,521 221,714 242,840 change year ago % 9.6 5.2 6.8 9.5 Company Total Revenue (US$) Domestic Revenue (US$) Total Employees Boeing $64.3 Billion $38.1 Billion 160,500 AgustaWestland $50.5 Billion N/A 10,433 Lockheed Martin $45.8 Billion $38.4 Billion 132,000 Northrop Grumman $34.7 Billion N/A 117,000 General Dynamics $32.4 Billion $28.5 Billion 90,000 BAE Systems $32.6 Billion N/A 98,200 Bombardier Aerospace $17.6 Billion 1.0 Billion 65,370 Cessna Citation $10.5 Billion N/A 8,500 Sikorsky $6.318 Billion N/A 17,000 Eurocopter $6.4 Billion 784 Million 15,000 Piasecki $5.0 Million 5.0 Million 56 Bell Helicopter/Textron 4.2 Billion 599.2 Million 8,172 Top Regional Firms New York, with a total of 30 aerospace players claims the largest share in the five-state area. Pennsylvania is second, with 13. Government reduced their spending on defense…
  21. 21. Slide 21 A Quick look at Competitive Benchmarking: Please note: Competitor metadata descriptions include those of Hartz, D&D Commodities, Kaytee, Nunn-Better, and Red River Commodities CompetitorsCompany X
  22. 22. Slide 22 Hartz Kaytee Hagen Red River Commodities D&D Commodities Higgins Premium Pet Foods Vitakraft Sunseed Wagner’s Company X Nunn-Better Performance Seed Website Grade • The website ranks 2,079,411 of the 4,054,028 websites that have been ranked so far. • A website grade of 49/100 for means that of the millions of websites that have previously been evaluated, an algorithm has calculated that the F.M. site scores higher than 49% of them in terms of its marketing effectiveness. • The algorithm uses a proprietary blend of over 50 different variables, including search engine data, website structure, approximate traffic, site performance, and others. • F.M. Brown has 183 pages indexed or stored on search engines (to support web optimization) in comparison to rivals like Hagen with their 23,000 and Hartz with over 5,300. Aside from the outliers in this category, the average index ranking was 231.5.
  23. 23. Slide 23 Competitive Benchmarking - Market Research Tools Word Cloud Tools: Free Website Assessment Tools: . •Examples include SEO Scores (, •Pear Analytics (, and •Website Grader ( Moving Forward: Use these Assessment Tools On Your Site and Your Competitions.
  24. 24. Slide 24 Connecting Research into Your Strategy
  25. 25. Slide 25 If properly performed your efforts will answer the age old question: How Are We Unique? And, your efforts will also inform you of how to use that to your advantage.
  26. 26. Slide 26 Threats •Free services provided by IDCs and SBDCs •Manufacturers’ business associations •WIB •Continued funding cuts •Non-consumption of IMC services •Expanding pool of direct competitors Strengths •Established reputation as a resource broker; connected to a broad range of manufacturers in a concentrated region •Known for a focus on small businesses, yet capable of working with clients of various sizes •Known for its ability to successfully execute a range of challenging project types •Solution selling expertise •20-plus years of experience with the ability to service approx. half the region’s manufacturers •Ability to successfully identify and obtain grant funding •As many as 90% of projects delivered with third-party talent •Perceived “White Hat” positioning Weaknesses •Limited ability to attract new clients to IMC •Database may not capture all large players •Projects tend to be grant-driven •Limited number of repeat clients •Lack of focus on cluster data •Internal struggle to clearly articulate Value Proposition •Lack of internal resources/content experts (i.e. business growth) •Historic lack of focus on project revenue and margins •Frequent inability to justify markup Opportunities •Double market penetration •Establish presence among industries with high growth potential •Prioritizing market opportunities, targeting clusters •Develop a consistent message for business world •Develop a team behind a new IMC brand •Bundling services; highlight top-line growth capabilities •Create a new, dedicated strategic planning team
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  29. 29. Slide 29 Supplier (Third-Party Partner) Power – Low - Growing number of third-party suppliers - Various sizes/structures of suppliers - Relative ease switching partners - Limited distinction across third- party groups Substitutes – High -Low cost of switching -Non-consumption -High buyer flexibility/low perceived difference among consulting groups -High degree of service alternatives Buyers – High -Low cost of switching -Very price sensitive -Low perceived difference among service providers -High degree of service alternatives Competitive Landscape Randomly Selected IMC Rivals: 1. RPA Inc. 2895 South Reach Road Williamsport, PA 17701 2. ESA Marketing, Inc. 416 Pine Street #201 Williamsport, PA 17701-6228 No website/employees 1-10 Revenue – $96K 3. Kolb Net Works (Web-based marketing) 334 East 4th Street Williamsport, PA 17701 4. Manufacturer & Business Association (Headquarters in Erie, PA) 2401 Reach Road, Suite 102 Williamsport, PA 17701 5. North Central Pennsylvania SCORE Williamsport, PA 17701 Competitive Rivalry – High -High number of competitors -Limited differentiation -Risk margins for project volume -Varying levels of service sophistication -Varying levels of key account “connectivity” and service migration Barriers to Entry – Low - Services are knowledge-based and require expertise, but most professional service companies strive to be more than one-trick- ponies, as such full-service consulting is an area that offers mass appeal. - Brand identity builds confidence; this limits the real-world growth potential for a one person shop, but the downsizing of many former execs has placed many new owner/operators out in the field. - Minimal investments in technology and infrastructure are required; a website, shared office space, and little more are all most players need to be in business.
  30. 30. Slide 30 Your Market Research Should Deliver Key Market Insights The innovative, niche players and those who are heavily financed take market share over those who live day-to-day The Alpha Position is a result of giving the market what it wants faster and better than a rival supplier
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  32. 32. Slide 32 SYLVIA WOWER Thank you