Competitive Intelligence: Strategically Critical yet Underutilized

In a world where knowledge is power, what you don't know can hurt you. The good news: It's not so hard to find out what your rivals are up to. Competitive intelligence can drive your strategy, calm your fears about the future, and give your company a competitive edge. Competitive intelligence uses many of the same techniques as market research but deploys them to answer highly targeted and specific questions, rather than to gain insight into broad market trends.

Topics: Market Research Strategy Custom Market Research

How MarketResearch.com Became an Industry Leader: Part II

In yesterday’s post, we interviewed Founder and CEO Rob Granader to find out what distinguishes MarketResearch.com from other business intelligence providers. We delved into MarketResearch.com’s new business strategy and explored its unique mix of innovative market research solutions.

Today, we continue our discussion with Rob and highlight several other attributes that help shape MarketResearch.com’s company culture and the overall customer experience.

Topics: Academic Profound Market Research Subscription Market Research Provider Knowledge Centers Custom Market Research

How MarketResearch.com Became an Industry Leader: Part I

The ups and downs of the world economy clashed and converged with the growth of MarketResearch.com — since its start at the end of the dot com bubble in 2001. MarketResearch.com has weathered a series of economic storms including the tech bubble, the 9/11 terrorist attacks, and the Great Recession of 2009. Many of these downturns occurred at pivotal moments in the company’s history. Most pronounced, soon after MarketResearch.com finalized a large acquisition focused on the financial services market, the world’s banks went into a nosedive.

Despite these challenges, MarketResearch.com has become the leading provider of global market intelligence products and services, which are used by more than 5,000 companies a year and 89 percent of the Fortune 1000.

Topics: Academic Profound Market Research Subscription Market Research Provider Knowledge Centers Custom Market Research

Monitoring Technology, an Often Overlooked Component of Market Research

Most B2B companies that regularly conduct market research typically focus on developing a deep understanding of three primary areas:

  • Market metrics (size, growth, and share)
  • Competitive landscape (competitors, strengths, and weaknesses)
  • Product and service performance with the current customer base (customer satisfaction, Net Promoter Score, etc)   
While we agree that the information generated by researching these three areas is critical in the creation of a well-developed strategic plan, there is another key area that should be addressed: technology.
Topics: Market Research Strategy Custom Market Research

Making Market Research an Ongoing Dialogue, Not a Project

Companies turn to custom market research because they need specific answers in order to make critical business decisions. The problem is the way we’ve been forced to think about market research from the lens of a project, in large part, due to the way this research is and has been executed.  

By definition, market research projects are episodic in nature, rigid in question format, and take weeks and months to execute so as to deliver the insights they’re framed to address. Internal and external complexities exist to commission, source, and complete market research. Buyers often refer to the process as exhausting and expensive, and respondents find the survey length tedious and difficult to schedule during a busy day. 

Topics: Market Research Strategy Custom Market Research

Using Market Research to Develop a Solid Pricing Strategy

Market and competitive pricing in the B2B sector is often a challenging area for many market researchers to tackle. Actual pricing information is difficult, if not impossible, to discuss using traditional interview techniques, as this information is considered highly proprietary. Often, pricing is not a straightforward matter as it may incorporate early payment discounts, freight, volume discounts, change orders, interest, or other finance charges and many other variants.

Topics: Market Research Strategy Custom Market Research How To's

The Key to Market Positioning and Growing Market Share

In the B2B world, market share is pursued and defended constantly. On a customer-by-customer basis, companies constantly exploit opportunities to take share from competitors and develop strategies to prevent losing share. Sustainable growth is dependent on developing solid strategies in both of these areas. So how do you begin to understand all of the market dynamics associated with developing a comprehensive strategy designed to protect and grow market share?

Topics: Market Research Strategy Custom Market Research How To's

The Process of Market Segmentation

The cornerstone of any marketing strategy is a solid understanding of what customers truly value and need, then creating and delivering a compelling message showing how your offering delivers measurable value in addressing those needs. 

Topics: Custom Market Research

5 Steps to Estimate Your Market Size

For most businesses, the concept of market sizing is readily understood but not easily accomplished.  Many get stuck on establishing boundaries or defining the market before they even get to the data analysis and implications of their research. Determining market size can answer strategic questions about levels of investments in the business and profitable growth targets. Market sizing can also serve as a quick understanding of the potential for a B2B market opportunity in terms of volume or value, and is therefore pertinent to business strategy and decision making.

Topics: Market Research Strategy Custom Market Research

Custom Market Research: Providing Answers to the Most Challenging Business Questions

B2B market research is defined as the systematic collecting, recording and analyzing of information in support of decision making in business-to-business (B2B) commerce. Almost all businesses conduct some type of market research, whether formal or informal, as input in support of making informed and sound business decisions. By far, the most common form of B2B research is focused on sizing markets, projecting market growth, competitive intelligence, and understanding market dynamics. This information is typically used in the company’s strategic planning process and is only conducted on an annual basis.

Topics: Market Research Strategy Custom Market Research