P. 1
The Integration of Market Research and Competitive Intelligence - March 2010

The Integration of Market Research and Competitive Intelligence - March 2010

|Views: 12|Likes:
Presented by SIS International Research - March 2010
Presented by SIS International Research - March 2010

More info:

Published by: SIS International Research on Mar 11, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

03/11/2010

pdf

text

original

The Integration of Market Research & Competitive Intelligence

Presented by SIS International Research March 2010

THE OVERALL DIFFERENCE 
Market Research Tells you what you want and need to know “Is a science”

Business Intelligence May tell you what you don’t want to know “Is an art”

Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

•2

THE EVOLUTION AND THE “ERA” OF MARKET RESEARCH
Market research evolved during the post World War II period, driven by the rapidly growing US consumer market During the 1950’s – the 1970’s, application of scientific and analytical methods were employed for: market segmentation market projection development of consumer profiles attitudes and usage studies new product concept testing tracking and performance/measurement studies of retail products customer satisfaction studies
Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

•3

THE “ERA OF COMPETITION” – THE EMERGENCE OF COMPETITIVE INTELLIGENCE
During the 1980s, the US economy experienced intense competition from Japan, followed by other Asian countries, in the automotive and manufacturing segments. Out of “defensive” measures to protect their domestic market shares, US firms started to monitor their domestic and foreign competition. CI Research methods primarily consisted of scanning the literature and primary research. 1986 – The emergence of SCIP; professional organization
Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

•4

IN THE POST COMMUNIST PERIOD 1990s
The world began to “go global” Market research “went global” to the developing countries [e.g. China, India, Russia, Latin America, etc.] Was primarily quantitative On the other hand, CI was most developed in the US Was primarily qualitative The problem: Most firms knew how to use market research data and findings but did not know how to use BI/CI studies The challenge remains: “to turn CI into actionable information”

Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

•5

CONTRAST IN RESEARCH METHODS
Aspect of Research
Focus Level of impact Research Method

Market Research
On the present and past behavior Moderate “Structured” qualitative and quantitative Identified and known Questionnaire and direct questions Crosstabs, statistical analysis

CI Methods
On past, present and future High – “have more to lose and gain” “Unstructured qualitative” Unknown “Oblique” or indirect “Putting the pieces of a puzzle together”
•6

Target respondents Method of interviewing Method of Analysis

Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

IN THE 21ST CENTURY – THE INTEGRATION OF MARKET RESEARCH AND COMPETITIVE INTELLIGENCE Corporate downsizing has forced strategic planning, market research, and competitive intelligence to become “more efficient,” and in some firms, to merge into one department. The results of market research studies are comparatively easier to track than CI studies. The integration of both of these methods generates a “powerful cocktail” of intelligence for the organization if they know how to utilize the information for strategic and tactical decision making.

Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

•7

EXAMPLES OF HOW TO INTEGRATE MARKET RESEARCH AND COMPETTIVE INTELLIGENCE
Market Research Competitive Intelligence Integrated Intelligence
Results in strategic re-positioning of the markets Integration of the competitive products into the focus groups and the analysis Development of tactical and long term pricing analysis with scenarios
•8

Market Segmentation Analysis of existing Study and new competitor entry into these segments Focus Groups on new Conduct a search of product concept test potential new products or start up firms Conjoint Price analysis Competitive pricing

Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

SUMMARY/CONCLUSIONS
Opportunity exists to integrate business intelligence with market research to achieve maximum “intelligence yield” Caution: monitor the projects to avoid duplication Remember: market research and BI/CI employ different skill sets Do not assume that the research executives can be “cross functional” A database should be created which catalogues these “hybrid” projects to enable your firm to track the success of this functional area
Copyright © 2010 – 2020. SIS International Research Inc. All Rights Reserved.

•9

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->