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Marketresearch is an important––but often overlooked––element of the wider Market and Competitive Intelligence (M/CI) process. Various different types of marketresearch enable organizations to develop new insights into their target customers, competitors, and the industries in which they compete. ??
If you’re in the process of creating a business plan, marketresearch will play a central role in helping you to shape your strategy. You could be working on a business plan to raise investment for a new startup , or pulling together a detailed strategy that outlines the expansion of an existing business into a new market.
Organizations that embrace marketresearch reap many benefits: an in-depth understanding of their customers, advanced analytics for enhanced results interpretation, and the ability to uncover new market trends as they develop to name a few. Today, marketresearch goes hand-in-hand with market and competitive intelligence (M/CI).
billion on marketing analytics within the next seven years. One of the biggest ways that data analytics is changing marketing is that it can help with marketingresearch. The IT landscape, on the other hand, is intensely competitive, with growing technology and fast-changing client demands.
in market and competitive intelligence leader roles. Every week a new vendor comes knocking on my door with a sales pitch for their – fill in the blank – marketresearch, competitive intelligence (CI) research, industry news, web scraping, expert network, CI software, consulting, company research, or outsourcing service.
This blog is the second in our three-part Competitive Strategy Series. This series is meant to help you understand the three key parts of your competitive strategy. You can compare the three pillars to three legs of a stool.
Secondary marketresearch involves utilizing preexisting data and insights gathered from various sources in the past. Unlike primary research, which gathers new and original data through surveys or experiments, secondary research relies on already available information. But why is it so important, exactly?
The telecom sector is as competitive as it gets. It helps to look at your own data, but with the help of marketresearch companies for telecom, you can also get to know all the external factors. That means telecom companies today, need to know exactly what consumers want, tomorrow.
Salesforce has made its customer relationship management (CRM) suite, dubbed Starter, generally available in an effort to garner more market share in the small and medium businesses (SMBs) segment as it faces stiff competition from rivals such as Zoho. Will the pricing work for SMBs?
The platform offers a unique and untapped goldmine of marketresearch. If used correctly, Reddit can help marketers demystify their target audience, perform keyword research, and spark new campaign ideas—today we teach you how. This is beneficial for research as it encourages more open-ended discussion.
A growing number of companies are using data analytics to handle a variety of important functions, including researching their competitors. We have talked about some of the ways that companies can use data analytics to research competitors on social media. Why is competitor research so important? But is it just a boring slog?
From the surge in electric vehicles, to the long awaited self-driving ones, and the evolving consumer expectations around mobility, automotive businesses need to know exactly what the market wants to stay competitive, or they’ll lose the race. They need deep, actionable insights backed by solid research.
from last year, according to a marketresearch report by Gartner. this year, and next year the marketresearch firm expects that growth will further slow, to 17.5%, reaching $3.5 billion in 2022, up by 19.5% However, even though RPA revenue will continue to increase, growth will slow down, Gartner says.
Vince Campisi, CIO of GE Software, Ash Gupta, an executive with American Express, and many other companies use big data to get a competitive advantage. They have to work in a more fast-paced competitive environment , since there is basically a big data arms race between companies and their competitors in many industries.
The bluntest assessment came from Ryan Brunet, a principal research director at the Info-Tech Research Group: This is classic Microsoft. A Brunet colleague, Thomas Randall, director of AI marketresearch at Info-Tech, said that CIOs should expect some price tag pain from the change. Its very much the same old garbage.
The first was becoming one of the first research companies to move its panels and surveys online, reducing costs and increasing the speed and scope of data collection. Externally, it’s seen a steady increase in customer satisfaction surveys, revenue, stock price, and ratings as the most innovative provider in the marketresearch industry.”
In the world of B2B sales, company research is a critical aspect of any successful rep’s daily duties. In fact, access to the right research tools and information can make or break your ability to identify target accounts, personalize a sales pitch, and ultimately, close deals. Let’s get into it! It’s free!
In this fast-paced market, having staying power comes down to understanding what’s happening within the industry, how your brand is perceived by consumers and how you measure up to the competition. And this understanding is made possible with a marketresearch report. What Is a MarketResearch Report?
Navigating the market with inadequate information is like fumbling around in the pre-dawn hours for your keys. Filling your coffers with consumer, competitive and market intelligence pulls back the curtains and opens the windows breathing new life into the way you do business. How MarketResearch Tools Have Evolved.
Toshiba Global Commerce Solutions is currently recruiting a marketresearch analyst for placement at its offices in Durham City, North Carolina. The next hiree will be tasked with ensuring that all the firm’s products and services are competitive and meet the demands of the marketplace. ArchIntel™ -.
In a previous post, we touched on secondary marketresearch, but didn’t go into depth. Our other post focused on primary marketresearch––including what it is, the methods used, and both the advantages and disadvantages of using it as a data source. What is Secondary MarketResearch?
There are many types of marketresearch available to brands – and some are more effective than others. We’ve listed the top ten marketresearch types and methods here to help you decide which is best for you! Global revenue of the marketresearch industry exceeded 73.4 billion U.S. Observation. Experiments.
An increasing number of pharma professionals are relying on market intelligence platforms to stay on top of these movements while providing the tools they need to devise a business or investment strategy. These tools turned a monumental task into a cakewalk by exponentially increasing the accuracy, breadth, and depth of conducted research.
By employing online marketresearch! We’re sharing critical steps that will ensure your brand can stand apart from the competition. Online marketresearch will help you listen in, perceive, and predict what your consumers desire, and then meet them with it at just the right moment. Types of Online Market Researc.
Here are some methods to measure SOM: Sales Data Analysis : Compare your sales data with industry reports or estimates of total market size. MarketResearch Reports : Many industries have reports that provide market share data for key players.
By employing a combination of methods to gather data around a particular subject, the researcher can more comprehensively solve the problem by looking at it from different perspectives. And multimodal research solves common challenges in marketresearch including cost, uncooperative participation, and even the outlier effect.
Marketresearch confirms or dispels dangerous assumptions and reveals intel that generates new ideas and makes marketing magical. What is MarketResearch? Marketresearch is the process of understanding the current state of the market in relation to a particular aspect of the business.
So, let us look at some of the consumer and marketresearch predictions hoping they will put you in a winning position. In-House MarketResearch. Faced with the heavy demands of the current business environment, brands have had to weigh between hiring external marketing agencies and bringing the process in-house.
It’s easy to see why marketresearch and analysis are often conflated. Both equip decision makers with crucial intelligence around the current state of the market, helping leaders analyze trends and predict future scenarios. What is MarketResearch? What is MarketResearch? But they’re not the same.
Facebook is seeking a product marketingresearcher for its Spark AR platform , a studio built for creating intuitive and customizable augmented reality experiences in Instagram stories and reels, among other things. Preference will be given to those with experience in creator ecosystems or developer marketing. ArchIntel™ -.
Leslie Mauger , director of Pricing, Strategy and Intelligence at Peraton , recently spoke with ArchIntel regarding how she measures success within competitive intelligence, how to draft competitive intelligence reports and some of the lessons and challenges she’s learned throughout her career in the sector.
When considering the potential pitfalls of marketresearch, sample fraud is arguably the most destructive. Researchers have an obligation to prevent sample fraud, recognizing its prevalence in marketresearch and the possibility it could impact their own studies. What Is Sample Fraud in MarketResearch?
This means they must keep track of technological advancements, evolving consumer behaviors, and competitive intelligence. A Thriving Industry The marketresearch industry is thriving and poised for continued growth. According to Statista, global marketresearch revenue exceeded $7.64 It’s a lot to manage.
5, Roetzer published a transcript of the interview on the Marketing Artificial Intelligence Institute’s website, explaining Contify’s capabilities in helping businesses collect market and competitive intelligence. Other applications of the platform include communications management, public relations and email marketing.
There are two great marketresearch approaches to keep brands informed: Qualitative and quantitative marketresearch. While both have their place in business and there are situations where you could use either, we are focusing here on qualitative marketresearch. What Is Qualitative MarketResearch?
This is especially true of the marketresearch and intelligence industry, where a number of companies across sectors are wielding GenAI for similar purposes. But even more promising is this technology’s capability to help companies develop growth opportunities in new markets, overlooked consumers, and aiding in strategy building.
Their products, research, and technologies are changing the way the world works. The impact of space technology, on other industries, is wide and vast, and the innovation ripple of research has spurred many high-profile products, including Teflon and CAT scans, as well as many more developments from NASA.
Agile research to the rescue! Modern businesses have adopted agile marketresearch as an answer to the dynamic environment in which they operate. What does this mean; how is it different from traditional marketresearch; and why should you do it? What Is Agile MarketResearch? Research flexibility.
MarketResearch for Customer Engagement. Carrying out marketresearch is easier than ever thanks to a combination of public data sources as well as information you harvest through your own internal operations. Wrangling Recruitment & Retention.
The international open-source intelligence market will grow 24.5 percent during the 2020-2027 period, Kenneth Research forecasted in its latest report on the industry. The post Kenneth Research Forecasts Significant OSINT Market Expansion in 2020-2027 Period appeared first on ArchIntel™.
It is where the role of digital marketing comes into play. And Artificial Intelligence (AI) is creating new possibilities in the digital marketing space. In today’s competitive business landscape, you cannot undermine the power of AI in shaping your marketing strategy to stay ahead of your competitors.
Information you collect about competitors and customers, which helps you maintain a competitive advantage, is known as competitive intelligence. Growing your market share is impossible without it in today’s hyper-competitive environment. What is Competitive Intelligence? The concept has quite some nuance to it.
Table of contents: Developing a research-driven strategy Sharing incredible content that your audience loves Proving the value of your work to clients What’s next? Developing a research-driven strategy. Source: Summer 2020 Marketing Decision Makers Survey ( S2 Research ).
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