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| Advanced market
research |
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Marketing intelligence
studies/ Competitive Analyses |
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A. Objectives / studies: |
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- Who are our customers? Who else should be our customers?
(Customer analysis studies)
- Where are our products positioned? How can we reposition
our products? (Product positioning studies)
- What new products should we offer? (New product development
studies, e.g., conjoint studies, focus groups, market share
simulations)
- What publications should we use for our products? How
do we know? What price? Will advertising increase sales?
What group is most apt to respond to our ads? (Advertising
/ media studies)
- What does the customer think of us? Why? (Corporate image
studies)
- How can we best increase sales? If we raise (drop) prices
how will sales change? By how much? (Sales analyses / Market
basket analysis)
- How are our products? Are customers going over to competitors?
Why? (Customer satisfaction and retention (churn) surveys)
- Who are our worst customers? How can we reduce our risk
and increase profit? (Risk analyses)
- Where is our competition weakest? ... and without causing
a price war, how can we exploit them? (Competitive intelligence
studies) and finally,
- How do you deal with waste, fraud, abuse, and bad credit
risks from clients who don't appreciate all the good work
you've done above (credit scoring, risk assessment, and
auditing studies)
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B. Methods |
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- Perceptual mapping
- Correspondence analysis
- Preference mapping
- Multidimensional preference analysis
- Multidimensional scaling
- Conjoint Analysis
- Classification and regression trees
- Cluster analysis
- Regression analysis
- Discriminant analysis and many other multivariate techniques
- Additional tools:
- Data visualization
- Geographical reporting systems
- Market segmentation analysis
- Neural networks, etc.
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