At the end of this session you

(1)

Market Research

Dirk Heuff

…

CBI training "Exporting ITO Services to EU" - Yerevan, 13 & 14 June '12

At the end of this session you

»

Know how to collect & analyze

market information

»

Are able to translate findings

into useful information for your

business

2 Center for the Promotion of Imports from developing countries

CBI training "Exporting ITO Services to EU" - Yerevan, 13 & 14 June '12

The Research Process

3

Define your research problem

Choose your research

technique

Plan your research

Collect data

Analyse your data

Center for the Promotion of Imports from developing countries

What information

do you need?

Defining research questions

CBI training "Exporting ITO Services to EU” Yerevan, 13 & 14 June '12

(2)

3 C’s influencing your business

5

Size & growth

Demands, unmet needs

Alternatives

Market Segments

Customers

Name, size, market position

Service characteristics

Marketing Mix

Distribution / Partnerships

Competitor

How many, size, access

Major players

Requirements

Channels

Center for the Promotion of Imports from developing countries CBI training "Exporting ITO Services to EU" - Yerevan, 13 & 14 June '12

For each element,

define 3 questions

for information

you NEED for your

EMP

Customer

Competition

Channel

6

CBI training "Exporting ITO Services to EU” Yerevan, 13 & 14 June '12

Your 3 questions

»

Customer

1.

2.

3.

»

Competition

1.

2.

3.

»

Channel

1.

2.

3.

Your 3 questions

»

Customer

1.

Size & location of potential customers

2.

Top 5 Needs (incl unmet needs)

3.

Current services in use / alternatives considered

»

Competition

1.

Strenghts & Weaknesses

2.

Service offerings (marketing Ps)

3.

Succesful market entry strategies

4.

Possible reaction to our market entry (scenario’s)

»

Channel

1.

Availability, effectiveness, efficiency

2.

Main players

3.

Main challenges

(3)

Collect

Types of market research

CBI market information

database

CBI training "Exporting ITO Services to EU" Yerevan, 13 & 14 June '12

Your challenge

Shortage of

specific

information

Information

overflow

Ask and listen to others:

“

the cloud is with you

”

Research techniques

Secondary data

General

Cheap

INTERNET research

•

Advantages:

−

Free (often)

−

Availability

−

Up-to-date!!

•

Pitfalls:

−

Reliability of information

−

Finding your way

Primary data

Specific for your product

High cost

Desk research

Field research

Internet research

cbi.eu/marketinfo

CBI training "Exporting ITO Services to EU” Yerevan, 13 & 14 June '12

(4)

Registration

If you register on

www.cbi.eu

you get

FREE

access

Using CBI’s

database

Discover the hidden

treasure

CBI training "Exporting ITO Services to EU" - Yerevan, 13 & 14 June '12

Homepage

Select sector & country

(5)

Results

Types of research available

Examples

Internet sources: market information

EuroITX.eu

Large research institutions (Gartner, A. T Kearney, etc.)

Eurostat

http://ec.europa.eu/eurostat

Exportnavigator

http://www.exportnavigator.com

EU Export Helpdesk

for developing countries

http://exporthelp.europa.eu

ITC trademap

Trade associations

National statistics offices

(6)

Examples of industry sources

»

Trends:

•

Outsourcing Center -

http://www.outsourcing-center.com

»

Information about EU markets:

•

IT Sourcing Europe -

http://www.itsourcing-europe.com

»

Industry magazines:

•

Computing -

http://www.computing.co.uk

•

EuroITX:

http://www.euroitx.com

»

News portals:

•

Global Services Media -

http://www.globalservicesmedia.com/IT-Outsourcing

How to find buyers

»

European IT associations

•

German Bitkom

http://www.it-in-germany.de/eng

•

UK IT Association

http://www.ukita.co.uk

•

Find more at

http://www.eito.com

»

Trade Fairs

•

CeBit

http://www.cebit.com

•

IT & Business

http://www.itandbusiness.de

»

Directories

•

Offshore Xperts.com

http://offshorexperts.com

Internet sources: players & price

»

General e-market places:

•

Globalsources

www.globalsources.com

•

Alibaba

www.alibaba.com

•

Europages

www.europages.com

•

Kellysearch

www.kellysearch.co.uk

»

Trade associations

»

Trade fairs exhibitors

Analysis

Turning information into

intelligence

CBI training "Exporting ITO Services to EU" - Yerevan, 13 & 14 June '12

(7)

Case discussion

»

Descriptions of 2 markets

»

Using 5 characteristics

»

Which do you consider the

most attractive

market ... ?

»

… and

WHY

?

13 million

6 million

100% online, and

full registration of all

personal details

Common needs, well defined.

Single channel

Over 50, but all speak

English very well.

65% online +

some centralized data

Diverse, mostly defined

2, French and Flemish

Complex, multiple

channels

2 markets

Population

Communication

Clarity of needs

and wants

Distribution

Languages

6 million

65% online +

some centralized data

Diverse, mostly defined

2, French and Flemish

Complex, multiple

channels

2 markets

Population

Communication

Clarity of needs

and wants

Distribution

Languages

13 million

100% online, and

full registration of all

personal details

Common needs, well defined.

Single channel

Over 50, but all speak

English very well.

2 markets

Population

Communication

Clarity of needs

and wants

Distribution

Languages

(8)

Weighing relevance of information

»

How old is information

•

Does it contain effects of global economic crisis?

»

Reliability of source

•

Does the source itself benefit from the research?

»

Facts vs opinions

•

Opinions are relevant & interesting, but complete and based on correct

facts?

»

Usefulness

•

Does it assist the decision making process?

Use your common sense

Your professional experience is

biggest factor in analyzing the

information available

Summary

»

Shortage AND overload of market information

»

Research is much more than data collection

•

Define research questions

•

Choose research technique(s)

•

Planning & Data collection

•

Analysis & interpretation

»

CBI research is free (if registered)

»

Your professional business sense is crucial in interpreting &

using market research