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Similaire à The Integration of Market Research and Competitive Intelligence
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The Integration of Market Research and Competitive Intelligence
- 1. The Integration of Market Research &
Competitive Intelligence
Presented by SIS International Research
March 2010
- 2. 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”
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- 3. 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
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- 4. 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
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- 5. 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”
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- 6. CONTRAST IN RESEARCH METHODS
Aspect of Research Market Research CI Methods
Focus On the present and On past, present and
past behavior future
Level of impact Moderate High – “have more to
lose and gain”
Research Method “Structured” “Unstructured
qualitative and qualitative”
quantitative
Target respondents Identified and known Unknown
Method of Questionnaire and “Oblique” or indirect
interviewing direct questions
Method of Analysis Crosstabs, statistical “Putting the pieces of
analysis a puzzle together”
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- 7. 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.
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- 8. EXAMPLES OF HOW TO INTEGRATE MARKET
RESEARCH AND COMPETTIVE INTELLIGENCE
Market Research Competitive Integrated
Intelligence Intelligence
Market Segmentation Analysis of existing Results in strategic
Study and new competitor re-positioning of the
entry into these markets
segments
Focus Groups on new Conduct a search of Integration of the
product concept test potential new competitive products
products or start up into the focus groups
firms and the analysis
Conjoint Price Competitive pricing Development of
analysis tactical and long
term pricing analysis
with scenarios
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- 9. 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
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