The
essential comparison between Market Research and Market Intelligence is
this: marketing research is an activity; market intelligence is an asset.
Not all marketing research produces intelligence.
The value of intelligence assets is measured by the incremental profit
resulting from their application. No application, no value.
Our clients
always say they "do marketing research". Often, they are
happy to show the results of their research activities to us. In
many cases, however, we immediately find opportunities to significantly
reduce costs and increase the value of the intelligence they are
receiving.
Here are two
examples:
One client was
investing $200,000 per year on an annual customer satisfaction tracking
study. The report included several thousand verbatim comments made
by customers as well as some quantitative data.
Few managers read the findings. Whyze Group redesigned the
study to focus on the factors that influence customer satisfaction and
loyalty. We also adjusted the sampling and interview methods so that
our client obtained results for each division every quarter. This
saved the client $90,000 per year and dramatically increased the
use of the intelligence throughout the company. Every quarter,
managers in customer service, operations, and other areas of this firm
request the enhanced report.
Another client did marketing research on their TV ads, but were
disappointed with the "pull" these ads generated. When we
looked at their research, we found they had used dial testing. Dial
testing is when a room full of consumers are asked to move a dial
indicating positive and negative moments in a TV ad they are being shown.
The limitation of this method is that it only shows high and low points
relative to other points in the ad. It doesn't sufficiently show how
consumers perceive the offer relative to those of competitors. In
contrast, Whyze Group designed and managed a study to obtain consumers'
perceptions of our client's offer versus competitors'. Our client immediately
saw ways to communicate their offer far more powerfully.
These are just two examples where our clients had
research, but not the needed intelligence.
You can read more about our clients� success
stories here. For more information on how Whyze Group can
help you get the intelligence you need, please call us at (404) 294-9521.