"Know your enemy and know yourself; in a hundred battles, you will never be defeated". Sun Tzu
MarKET InTELligence
By
Soebowo Musa
Bekasi, 21 December 2016
CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK • BENEFITS OF MARKET INTELLIGENCE • BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK • BENEFITS OF MARKET INTELLIGENCE • BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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MARKET INTELLIGENCE DEFINED • The holistic collection of internal and external business environmental data, by a business, that is to be used to make decisions on the viability of the current business market strategically as well as tactically. • The firm’s skill at processing, interpreting and disseminating information on the market/environment, facilitating inter-functional coordination that enables a fast response to change. • The gathering, analysis, and dissemination of information that is relevant to the market segments your company participates, or wishes to participate. • A continuous process of developing a holistic view of the operating environment, including competitors, customers and markets to facilitate the decision making that leads to action.
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CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK • BENEFITS OF MARKET INTELLIGENCE • BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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WHAT IS NOT MARKET INTELLIGENCE? •
A mysterious art requiring high-level detective work.
• Market research is a firm’s effort to gather information about its target market and consumers. The ultimate objective is to enhance the firm’s understanding of the market and customer. It focuses on customers and market analysis without necessarily integrated into all aspects of the business. • Competitor intelligence is a more specific to information about a particular company’s competitors. • Business intelligence refers to all information relating the company itself rather than its market environment (internally collected data: sales, production, and financial data).
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CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK • BENEFITS OF MARKET INTELLIGENCE • BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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MARKET INTELLIGENCE FRAMEWORK
Market Intelligence
Competitive Understanding
Competitor Intelligence
Product Intelligence
Market Understanding
Market
Understanding
Customer
Understanding
Ed Crowley’s Market Intelligence 8
MARKET INTELLIGENCE FRAMEWORK cont’d Competitor Intelligence
• • • •
Investments Organization Changes Corporate Strategy Key Executives Profiles
Product Intelligence
• • • •
Pricing Product Introductions & Promotion Specification Comparisons Cost Structure
Market Understanding
• • •
Market Size Technology Trends Segmentation
Customer Insight
• • • •
Loyalty Rates Purchase Dyanamics Brand Preference, Awareness & Consideration Key Product Concerns
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CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK •
PURPOSE OF MARKET INTELLIGENCE
• BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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PURPOSE OF MARKET INTELLIGENCE • Help enter new market or expand presence in a market. • Minimize the risk of an investment decision being wrong. • Keep ahead of the competition, obtain first-mover advantage over competitors. • Give the customers what they want and expand market share. • Establish and maintain a distinctive corporate identity. • Tailor products and marketing effort around customer needs.
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CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK •
PURPOSE OF MARKET INTELLIGENCE
• BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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BUILDING AN EFFECTIVE MARKET INTELLIGENCE • Data sources and field resources – A world class market intelligence organization finds ways to turn the entire organization into one large intelligence-gathering unit. • Analytical skills and processes to pull the data together – The ability to analyze data in integrated fashion to provide the right information to let the leaders make decisions with confidence. • Technology foundation and platforms to deliver, store, process, and distribute the information – Minimize manual intervention. • The support of and access to top management – to make top management understand that market intelligence has value added in decision making process.
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CONTENTS • MARKET INTELLIGENCE DEFINED • WHAT IS NOT MARKET INTELLIGENCE? • MARKET INTELLIGENCE FRAMEWORK •
PURPOSE OF MARKET INTELLIGENCE
• BUILDING AN EFFECTIVE MARKET INTELLIGENCE • CONCLUSION
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CONCLUSION
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"Your ability to learn faster than your competition is your only sustainable competitive advantage". Arie De Gues
THAnk YoU
PT KIRAN RESOURCES INDONESIA Plaza Mutiara, 6th Floor, Suite 603 Jl. DR. Ide Anak Agung Gde Agung Kav. E.1 & 2 No. 1 & 2 Jakarta 12910, Indonesia E-mail:
[email protected] Tel: (62-21) 576-0576; Fax: (62-21) 576-0601
