Development of Market Intelligence

Are we aware of the mental structure of the cost the consumer places on our category? What are the competitive limits of our product lines? We analyse where the cost category of our products or services fits in the mental scheme of the consumer, the other cost categories they are associated with and the boundaries the consumer sets between our category and our products or services.

What is the market potential before the launch of a new product or service? We explain what the market potential is for individuals as well as value or volume of a new product or service and determine the penetration strategy based on purchase intent or the degree of acceptability of the product or service. We create different market simulations based on the main marketing variables that come into play.

Are the key purchase values firmly anchored? Do we understand the consumers’ attitudes towards our brands and the competition? Do we understand their consumption and purchasing habits? Are we a leading brand at every purchase moment? Could we extend our line of products to cover other segments or purchase moments? From the definition of uses, attitudes and motivations for purchase and consumption to the segmentation by purchase moments that define the fundamental relationships between the consumer and the product.

Are we attacking our real value segments? What is the position of our competitors in each segment? How can we reach each segment? We define the basic segmentation of the company based on either rational sociodemographic criteria or emotional or attitudinal criteria.

What type of segmentation should we address? Would attitudinal segmentation be strategic? The relationships between customers and brands have changed in the last several years, from a static position where sociodemographic and socioeconomic variables prevailed at the time of obtaining a strategic segmentation to a dynamic position where the lifestyle and attitude towards the product or service define the new dimension of the strategic segmentation. Two people with the same age, level of education and income can associate the brands in completely different ways and in the decision-making process and purchasing of the brand.

To complete the market snapshot, it is important to get information from every decision-making angle and factor. We gather descriptive segmentations that help us better understand the market, from segmenting by key decision factors to motives for choosing a brand to benefits sought, to purchase moments, etc.

How do we operationalise the strategic segments and make them operational in all of the company’s departments? Can we explain the strategic segmentation with few variables? We establish basic criteria that “explain” the strategic segmentation based on the summary of its main parameters, those which are true “explanatory discriminators” in the segments. We reduce to the minimal level of information necessary through a questionnaire to obtain the segments and maximise the usefulness of the segmentation.

With the correlation of the main variables in our research, we construct a map that becomes the real picture of the analysed market or category and where we develop the main discriminatory elements that explain the market and provide us with a strategic discussion.

Is the difference in price between our products and the competition correct? Are we maximising our financial margin? Are we optimising our demand curve? We analyse the price elasticity of the products based on advanced techniques of Conjoint Analysis (Adaptive (ACA), Choice Based, etc.).

Have we covered the user’s experience well enough? What is our loyalty index compared to our competition? What tools do we have to gain our customers’ loyalty? How can we convince our competition’s customers to switch to our brand? How can we adapt the customer’s expectations to market evolution? We design quality service strategies that help us determine the strong and weak points of the brand through assessment and experience. The ain is to take specific steps for improvement that allow us to retain current customers and hook new ones, adapting to the expectations of the brand customer/user, encouraging policies that advocate upgrading service and avoiding making promises that can’t be kept.

What are the reasons for abandoning the brand? What percentage of clients do we lose? What is the profile of our ex-customers? It is crucial to analyse the fundamental causes of abandonment of our consumers to determine an abandonment model and the elements of probability for winning them back.

How can we evaluate the working environment? Are our employees happy? Are we meeting their expectations? Measuring the degree of employee satisfaction helps improve the company’s human resources policies and performance and ensures the loyalty of intellectual capital. We should understand the perceptions, that is, the collaborators “feelings” in terms of the organisation, infrastructure, management styles and working conditions. We help people accept company culture and allow it to work as a vehicle that transmits values as a model of professional conduct.

The strength of the brand is directly related to the metal position the user/consumer has and basically responds to the following function: Brand Equity = Brand Recognition + Brand Image. Brand recognition is understood as awareness, both spontaneous or prompted, of the brand’s existence, even though the true value comes from occupying a privileged position in the “short list” of brands the consumer/user has in his or her mind. Brand equity doesn’t exist if this recognition and privileged mental positioning is not associated with positive and appropriate associations for the consumer. A strong brand position is based on the positive assessment of all the benefits the consumer looks for in the product or service category.

Do we stand out in the competetive positioning map? What tangible and intangible characteristics are associated with us? How can we avoid an undifferentiated central position in the perceptual map? We put forward a competetive perceptual map using a defined inventory of tangible and intangible characteristics.