Course description
Competitive intelligence is a continuous process of building a comprehensive understanding of your organization’s surroundings. Competitive intelligence may be applied to various disciplines, from products and customers to personnel and lost prospects to marketing and the environment. When a structured program is successfully executed, managed, and maintained, Competitive Intelligence gives firms a competitive advantage in any of these fields. Competitive intelligence is neither market research, espionage, nor just searching the internet. Thanks to this legal and increasingly important tool, organizations can now make better strategic and tactical decisions. As an early warning system, Competitive intelligence can reveal positive and dire consequences for your firm.
What is the connection between marketing research and competitive intelligence?
Information on competitors, customers, and other market aspects can help a business gain a Market Analysis. Comparing market research and intelligence is all about what you want to achieve. On the other hand, market research aims to learn more about customers’ preferences. In both cases, the goal is to assist businesses in gaining a better understanding of their target audience and creating more effective marketing campaigns. Compared to CI investigations, the outcomes of market research studies are much easier to follow up on. A “strong cocktail” of intelligence can be generated for the organization if they know how to use the information for strategic and tactical decision-making by integrating both strategies.
Suitability - Who should attend?
Who Should Attend?
Market Research Analysis and Competitive Intelligence Training Course by Rcademy will greatly benefit:
- Business Owners/ Entrepreneurs
- C-Level Executive
- Chief Marketing Officers
- VP – Marketing
- Director Marketing
- Manager-Marketing
- Market Research Professionals
- Market Intelligence Professionals
- Managers – Customer Relationship
- Manager- Sales
- Managers – Brand Promotion
Outcome / Qualification etc.
The main objectives of this training course are to enable participants to be able to:
- Use market research and knowledge to their advantage
- Examine the latest market research trends and best practices in the industry
- Provide a unified image of the firm and improve decision-making
- Help them make marketing decisions, think about how to use data
- Understand how to use the internet and other resources to obtain information
- Choose from various questionnaire styles
- Analyse data with an established set of tools and derive actionable insights from it
- Help them achieve your marketing goals
Training Course Content
Module 1: Understanding the Voice of the Customer
- In what ways do your products and services meet or exceed the needs of your target audience?
- How can we encourage our customers to provide us with their feedback?
- Benefits of client feedback
- Increasing your listening capacity
- What are the proper methods for posing inquiries?
- Open-ended
- Closed-ended
- The nonverbal communication interpretation
Module 2: Key elements
- A product’s or service’s life cycle
- Market research vs Market intelligence: what’s the difference?
- The 4p’s of marketing
- Product/service SWOT analysis
- Techniques for Segmenting the Market
- Marketing on social media: a guide for Business
Module 3: Best practices of market research
- The goals of marketing analysis
- Market research types
- Marketing research methods
- The different types of market research
- Inquiry into the nature of the issue
- Research for solving issues
- The marketing research method
- Selecting vendors and services for marketing research
- Benefits and drawbacks to using customer focus groups.
- Marketing research best practices
Module 4: Market Intelligence
- Market intelligence and how it is a worthwhile investment.
- What to do with the information gathered from the market
- Measuring the effectiveness of market intelligence
- Measuring the health of the business
- Quantitative indicators that are not related to money
- Measuring the internet
- Buckets of marketing intelligence
- Demand creation
- Awareness and Reputation
- Relations with clients
- Creating markets
- Infrastructure
- Getting a grip on competitor benchmarking
- Gathering, examining, and transforming information into actionable business insights
- Analyse data by identifying trends
- Increasing marketing intelligence: what can be done?
Module 5: Marketing strategy for customer focus and engagement
- Choosing the best customer service providers to work with
- Envision the customer’s internal and external expectations.
- How can you increase the customer’s lifetime value?
- How can you go the additional mile?
- Creating a customer-centric marketing strategy
- Techniques of customer service recovery
Module 6: Customer lifetime value
- Calculation of customer acquisition costs (CAC).
- Customer lifeline value (CLV/LTV): Basic and Advanced level
- Past Customer lifetime value (PCV) as a comparison to CLV.
- A step-by-step guide to calculating the CLV
- The payback period for acquisition campaigns
- It’s a marketing campaign ROMI
- The discount rate and net present value (NPV)
Module 7: Results into action
- Set up a marketing effectiveness action plan
- Setting PDCA’S marketing objectives
- Stakeholder-cantered approaches to managing change
- Making sense of the results of market research and intelligence
Module 8: Enterprise Diagnosis
- Is there anything I need to work on?
- Analysis of value drivers
- Breakdown of the data
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...