Market intelligence

1
Market intelligence

• CRDF STEP Innovation Marketplace
• Idea to Market Workshop
• Kazakhstan, June 2007
• Alistair M. Brett
• Oxford Innovation Ltd
• Washington DC, USA
• alistair.brett_at_gmail.com

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Marketing questions

• Who are our existing / potential customers?
• What are their current / future needs?
• How can we satisfy these needs?
• Can we offer a product/ service that the customer
  would value?
• Can we communicate with our customers?
• Can we deliver a competitive product of service?
• Why should customers buy from us?

3
The marketing concept

• choosing/targeting customers
• positioning your offering
• interacting with those customers
• controlling the marketing effort
• continuity of performance

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What is market intelligence?

• Uncovering and monitoring the latest science and
  technical work in your field
• Carrying out literature and patent and
  intellectual property searches
• Continuous monitoring of key industry journals
  and websites
• Keeping informed on your competition, potential
  competition, and market information
• Exchanging information with colleagues
• Attending conferences and trade shows

5
Why market intelligence is needed

• This is the best technology available anywhere in
  the worldbut does it meet a demand?
• We have no competitorshow do you know, how did
  you check?
• We know everyone who works in our technologyare
  you sure?
• We have a business planare you sure about you
  business plan assumptions?
• If we gain 1 of the market, we will be richbut
  how will you gain 1?

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Competitors

• Who else has (or can get) these resources?
• Competitive advantage unique resources
• Incentive to compete
• Define competitive strategy

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Market Analysis Summary

• Wider External environment
• Economic
• Social/cultural
• Technological
• Ecological

• Competition
• Who are the major competitors?
• What are their objectives and strategies?
• What are their strengths and weaknesses?
• Market share and size of competitors
• Profitability analysis
• Entry barriers

• The market
• Market size
• Customers
• Market segmentation
• Distribution

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Corporate intelligence code of ethics

•  Society of Corporate Intelligence Professionals
  (SCIP)
• To comply with all applicable laws, domestic and
  international
• To accurately disclose all relevant information,
  including one's identity and organization, prior
  to all interviews
• To fully respect all requests for confidentiality
  of information
• To avoid conflicts of interest in fulfilling
  one's duties
• To faithfully adhere to and abide by one's
  company policies, objectives, and guidelines

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Market Intelligence Tools

• You may collect either
• Primary new data that is collected through a
  survey to answer specific problems
• Secondary data that has been collected by
  others for other purposes
• The actual data will be either
• Qualitative descriptive data (how the customer
  views the product)
• Quantitative - numbers (the price of the product,
  how many are sold)

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Collecting Secondary Data

• Internet
• Company web site
• Key word search
• Journals, news sources
• CD-ROM Databases
• Industry/companies list
• Market Reports
• Analysis (Thomson, Datamonitor)
• Trade Associations
• Directories (printed)