I. Strength & Weakness Profiling
We have used this marketing technique with numerous companies to identify new sales opportunities and focus on marketing problems that need to be eliminated. We interview a significant number of customers and non-customers to generate a detailed profile of the client company and its major competitors. This technique is quite helpful in customer retention, increasing market share, price protection and increased service programs.
Example:
East Coast electric utility was losing residential market share to aggressive natural gas utility. Evaluated market strategy, including organization structure, marketing tactics, advertising message and strategy and product positioning. Recommended marketing changes including aggressive advertising campaigns, realignment of customer service and marketing organization, new trade ally program, and increased marketing efforts in the field as opposed to in corporate. Within six months, client began to regain market share.
II. Communications Audit
A professional and objective assessment of all marketing activities, accomplishments and plans, both internal and external. We examine client business plan, interview key managers, review competitive activities, interview customers and non-customers, review market demographics, statistics and evaluate ad agency relationships. We prepare a report highlighting our findings and link them to recommended action steps for improvements.
III. New Product Development/Introduction
For a wide variety of products and services, we have: researched and projected market acceptance, profit feasibility and price elasticity; designed intricate test markets and implemented local roll-out marketing programs. Our roles can be that of objective marketing sounding board, fact finder and/or architect for properly evaluating new service ideas. Our immense experience in the highly competitive consumer products arena has taught us how to lead our clients into becoming innovative and profitable competitors.
Example:
Launched a new office product that rose to be the number one seller in less than 3 months. Major competitors failed to take significant sales even after major marketing expenditures. The product remains #1, at a premium price!
IV. Business-to-Business Research
We combine primary and secondary research techniques including focus groups, one-on-one interviewing, telephone survey and database reviews, to identify business market growth opportunities. Project objectives can be to: the question of customer satisfaction. It is the key to continued success for many companies. We can research, both externally and internally, to establish benchmarks on a number of issues. When problems or weaknesses are identified, we can design and help implement programs to eliminate these problems.
Example: Charter
A major healthcare organization recognized the growing importance of knowing the level of customer satisfaction with their services. After the benchmark research established areas of dissatisfaction, a multi-faceted action plan was designed and put into place. A follow-up study verified a significant improvement in customer satisfaction, resulting in repeat business and positive referrals.
a.) better understand business customer/prospect needs,
b.) evaluate a new service/propositions,
c.) measure competitive in-roads and successes with business customers,
d.) pursue future business alliances or licensing.
Example: Synapes
A developer of a new highly sophisticated optimization software wanted to know what would be the most productive business development steps in order to reap the greatest financial rewards from his product in the United States. The client knew nothing about the US market, major players, trends, etc. relating to the features and benefits of his product.
We identified 3 business development courses of action as the first step, prioritizing each for reaching his goal. The client chose one, we researched it and with the priority data in hand counseled them on the pros and cons of moving forward. Within 6 months from starting, we had arranged a personal meeting with the top market shareholders in the industry (not an easy task) for our client to present his product and pursue a future relationship.
V. Market Strategy Development
We work with the client management team to develop strategies for: new product/service offerings, expansion planning, countering actions of competitors and growing outside normal business boundaries. Merger potential and partnering can be included. We bring a depth of experience with consumer product, high technology, banking, healthcare and manufacturing companies which makes us good members of a client strategy team.
VI. Consumer Research
It's important to fully understand today's consumers who make up a specific company's market, both users and non-users. We use all techniques from the more simple demographic profiling to the sophisticated psychographic profiling to better understand the needs, attitudes and behavior tendencies of a particular market segment or universe. It's very important to know the "real" perceptions of the buying public. This type of information is essential in building successful short and long term marketing plans.
Example:
Utility needed company-wide customer forecasting methodology. Through use of geodemographics, market share was determined in a manner that was acceptable throughout utility marketing, sales and operations groups. A forecasting methodology was developed that combined projected demographic growth and projected system expansion. The result was a customer forecasting methodology that was adopted throughout the corporation, used for regulatory filings, financial, supply and distribution system planning.
VII. Market Analysis
We use primary and secondary research to draw a detailed picture of a client's market place, including identification of market segments, market dynamics, drivers of decision making within segments and potential growth actions. It often includes segmentation studies, demographic studies and economic impact analysis. We identify problems and opportunities facing the client company now and in the near future.
