Modern Market Research & Intelligence Factors


Media and Marketing Sales & Marketing

Course Info

Code IND11-103

Duration 5 Days

Format Classroom

Modern Market Research & Intelligence Factors
Available Dates City Fees Actions

Course Summary

 

For any organisation that provides a service or product, it is crucial to have a thorough understanding of their primary markets. Customer and market trends are forever changing and evolving, and to remain successful, an organisation must be able to keep up to date with the changes and continue to meet customer demands. To do this, they must conduct regular market research and market intelligence to broaden their understanding of current demands.


 

 

To engage in effective market research, those involved must be competent in the various aspects of the desired market. There must be full comprehension of the desired audience, the ideal methods of communication and the most effective way to source information from them. Once the information has been collected, it would need to be analysed and investigated to understand what changes may need to be made.


 

 

Market research is not only essential for the present time for the organisation, it is also used to predict future changes in the market. With substantial knowledge on the past and present, the future should be easy to predict. Having the opportunity to prepare for potential changes reduces the time where the organisation may not be meeting customer needs. It will not only ensure the organisation maintains maximum productivity, it can guarantee they can remain ahead of competitors.


 


 

During this course, you’ll learn:


 

To understand the importance of market research for a successful organisation.
To analyse and interpret customer’s verbal and non-verbal communication.
To assess past and present market trends to accurately predict future trends.
To effectively plan for future market changes and identify ideal practices.
To conduct a SWOT analysis to identify business opportunities.
To examine the potential risks to current business productivity depending on unforeseen market trends.
To produce methods of information collection from customers to directly listen to their needs and demands.
To develop various market research strategies to achieve marketing objectives.

 

This course is designed for anyone within an organisation with responsibility of meeting customer demands. It would be most beneficial for:


 

Operations Managers
Sales and Marketing Managers
Senior Executives
Market Research and Intelligence Personnels
Brand Managers
Business Owners
Customer Relation Directors

 

This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review various methods of market research and analyse them to identify market trends and demands.


 

 

Participants will partake in a combination of different learning exercises to ensure a full development of knowledge and skills relating to the taught content. These learning methods will include seminars, case studies, roleplaying activities, and a group project. Working with one another, the participants will have ample opportunities to share their existing knowledge and skills with one another and receive constructive feedback.


 


Course Content & Outline

 

Section 1

 

Fundamentals of Market Research
The vitality of obtaining market research and maintaining market intelligence.
Understanding what customers expect from an organisation.
Assessing the benefits of listening to customers – increased reputation, higher profits, and investors.
Ideal communication when processing constructive feedback.
Interpreting different ways of communication – verbal, written and body language.
Explaining the 4 styles of buying – habitual, variety-seeking, dissonance-reducing and complex buying.


 

 

Section 2

 

Key Elements of Market Intelligence
Describing the difference and connection between market research and intelligence.
Analysing the product lifestyle and ensuring this can meet customer demands.
Exploring the 4 Ps of the marketing mix – product, price, place, and promotion.
Conducting effective SWOT analysis.
Merging the use of social media into organisation standards.


 

 

Section 3

 

Ideal Practices for Market Research
The various methods of market research and their advantages and disadvantages – surveys, focus groups, mystery shopping, quantitative and secondary research.
Evaluating what method of research would yield most accurate results, considering factors such as target group, product type and location.
Examining the types of market intelligence – competitor intelligence, product intelligence, market understanding and customer understanding.


 

 

Section 4

 

Customer-focused Engagement Strategy
Analysing successful and non-successful organisations based upon customer service.
Reviewing external and internal influences on customer expectations.
Assessing and prolonging the customer lifetime value.
Going the extra mile to meet customer demands and build rapport.
Planning, designing, and implementing customer-focused marketing strategy.


 

 

Section 5

 

Putting Market Research into Action 
Creating action plans to improve marketing effectiveness.
Establishing marketing goals and objectives for continuous improvement.
Encouraging an environment accepting of change for stakeholders.
The process of turning market research into action through data analysis.

Certificate Description

Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.

Holistique Training Certificates are accredited by the British Accreditation Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.

CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.



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