Market Intelligence and Planning…

The companies that grow and sustain in today’s uber-competitive and innovative economy are those embracing research to gain market intelligence to inform their planning decisions. It is a competitive advantage for managing change, and as such, market research, intelligence and planning is one of the four key ‘vanes’ of marketing that revolve and work together to ensure consistency and growth.

Businesses rely on Marketing Matters for our strategy to results approach to secure market research and intelligence, and to help translate these insights into their planning process. Services include:

Marketing Intelligence & Insights vane

– Competitive, Market, Customer or Validation Research

– Go-to-Market Strategy

– Marketing and Communications Strategy and Plan including Media and Public Relations

What is Market Research?
Market research is a process used to gather information.  This process generally focuses on your target market or audience, your current customers and/or potential buyers, your brand, product or service, and your competitors. Market research is used to learn about trends, evolving needs and wants, and what is important and why (key drivers) to your audience. It is a strategic process often used to assess the current situation and better predict and plan future direction.

What is Market Intelligence?
Market intelligence is the actual information and insights gathered about an industry, market, competitors, customers, and potential growth opportunities. It is gathered through internal or external sources, or a combination of both.

Market research when translated into market intelligence enables you to understand your position in the market, get to really know your target audience and competitors, and evaluate your brand, products, or services. These insights better equip you to create unique value and differentiation in the market.

How Market Research differs from Market Intelligence?

While both help you and other businesses understand and develop effective plans and strategies for a competitive edge, the main difference is that market research is conducted to learn more about the external customer, buying processes and drivers and market intelligence is more focused internally on your company.

Market research and market intelligence give you a holistic market view, improve customer growth and retention, boost your efficiency and effectiveness, and give you the competitive advantage. They are vital for your company to effectively plan, and to grow and sustain in the marketplace.

Why is Market Research important?
Market research is important in helping you to manage change and inform your plans and decisions on strategy, innovation and the allocation of time and resources.

Market research is generally not a one-time event.  When used strategically it is a tool for managing change and is an integral part of the planning and development process for growth and sustainability.  Market research should not be a cookie-cutter approach and is most effective when customized to the specific needs for gathering the intelligence and insights in order to properly strategize and plan.

Why is Market Intelligence important?

By learning more about your market and opportunities, current and potential customer needs and drivers, your competitors’ strengths and weaknesses,  and your own brand, product or service, you are informed on  where changes are necessary to better market your brand, product or service. Market intelligence helps you make informed business decisions, guides your competitive strategy to create effective plans on brand, product, or service development.

What Market Research do I need for gathering the right Market intelligence?

The selected market research process depends upon the intelligence you are seeking to gather. It can take the form of qualitative or quantitative research.

Qualitative research revolves around public opinion, and how the market feels about your brand and/or products or services currently available in the market. Quantitative research on the other hand is concerned with data collection and looks for relevant trends in the information.

Qualitative research is a source of primary research data and is collected through interviews or focus groups. Interviews are personal, 1-1 discussions conducted by phone or in-person. Focus groups assemble a group of people to collectively share in the same interview.

Primary data can also be gathered through quantitative research.  This form of primary research collection is conducted in quantity through surveys distributed via mail, email, by phone or online.

If your business’ research needs to not necessitate primary research, secondary data can serve your research purposes. Secondary research data provides quantitative information that is available publicly online and offline. This data can come from competitors’ websites, social media pages and posts, newspapers, magazines, journals, market reports, and more.

Market Research, Intelligence and Planning Matters
Market research and the intelligence gained from market research is critical among the four key ‘vanes’ of marketing. Why?  Because it reduces risk and provides for better resource allocation by providing insights for effective decision making and planning to manage change and achieve sustainable growth.

Ready to learn more about your market?

We’re ready to gather the Market Intelligence to inform your Planning!

Local Areas We Serve: Marketing Matters is located near Greenwich and Norwalk in Stamford CT in the heart of Fairfield County, and near Westchester County and New York City.