How much do you know about your market? Do you know how customers interact with your products, your services and your brand? What about your competitors' products and brands? Strategic Marketing Services can help your organization deepen your market intelligence so you can craft business strategies that will improve your products and services, and even your customer relationships.
Market Intelligence involves gathering information from a wide variety of strategically chosen resources to provide a reliable and comprehensive backdrop for confident decision making. Key components of Market Intelligence include: Competitor Intelligence, Product Intelligence, Customer Intelligence and Strategic Intelligence. Each of these areas can be a discipline in and of itself. However, their true power comes from the integration of all.
At Strategic Marketing Services, we understand that market intelligence is created, not collected. What we collect is information; what we deliver is intelligence.
Dynamic markets often require tactical adjustments and swift action; but in order to execute successfully, organizations need to have good strategic intelligence. Strategic intelligence provides executive management with in-depth and actionable insight for decision-making involving marketplace trends, opportunities and threats, as well as achieving competitive advantage and forming strategic alliances.
Specifically, strategic intelligence involves collecting, processing, analyzing and disseminating marketplace data, often from market research-related activities like strategic planning, market characterization studies and strategic opportunity assessments such as market penetration, market development, product/service development and diversification. This type of customized intelligence approach best supports an organization's unique business challenges and offers the best opportunity for long-term organizational success. Don’t be out-maneuvered by your competitors; start collecting strategic intelligence to stay one step ahead.
It’s fundamental. If your organization is customer driven, then you study your customers’ behavior and your measure your customers’ opinions. Zeroing in on what your customers truly want and need is a critical component of any market intelligence undertaking. Strategic Marketing Services offers a wide array of qualitative and quantitative customer intelligence services such as Voice of the Customer (VOC) studies, ongoing customer satisfaction programs and proprietary customer panels. Customer intelligence not only allows you to understand how your customers perceive your organization and identify their needs, but also uncovers potential market segmentation information.
How customers think and behave can drive all facets of your organization’s marketing process. Customer intelligence that is regular, repeatable and capable of exposing trends from year to year enables your organization to make the vital improvements necessary to satisfy, retain and build revenues from your customers.
Product/service development or extension is only successful if the features and functionality meet customer wants, needs and expectations. Strategic Marketing Services can provide assistance to your organization whether you are developing or launching a new product, or simply refining and improving an existing offering. A product or service evaluation study provides intelligence relative to customer perceptions and experiences, industry requirements and trends and vertical market attractiveness.
Our customized research methodologies and in-depth analysis allow your organization to identify product or service features and functionality customer’s value and assess overall product competitiveness. Gaining insight based on customer experiences with your products or services is essential for quality improvements and increasing customer satisfaction.
Business competition forces organizations to innovate, improve and grow and Competitive Intelligence is what empowers organizations to beat their competition. Your organization’s long-term success may well depend on the knowledge that you can acquire about your market competitors. Competitive Intelligence allows organizations to make the best business decisions in advance of competitive events and enables management to evaluate potential strategic moves. Continuous collection and use of Competitive Intelligence enables organizations to reap the rewards of becoming proactive in the marketplace.
The same elements that are important to know about your own organization should be part of an organization’s Competitive Intelligence efforts. Competitive Intelligence should include assessments of company-level characteristics such as sales, marketing and service capabilities, corporate messaging, branding and finances, as well as, product line or service attributes like pricing, positioning and line extensions. Strategic Marketing Services has extensive knowledge and experience in the area of Competitive Intelligence and can assist your organization in developing and implementing a comprehensive plan.