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<?xml-stylesheet type="text/xsl" href="http://www.mysolutionspot.com/utility/FeedStylesheets/rss.xsl" media="screen"?><rss version="2.0" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:wfw="http://wellformedweb.org/CommentAPI/"><channel><title /><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/</link><description /><dc:language>en-US</dc:language><generator>CommunityServer 2008 (Debug Build: 30414.1743)</generator><item><title>NEW INDEX REVEALS America’s Small Businesses ARE Optimistic About Their Future</title><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/new-index-reveals-america-s-small-businesses-are-optimistic-about-their-future-1876/</link><pubDate>Thu, 12 Mar 2009 15:19:40 GMT</pubDate><guid isPermaLink="false">6570dea7-6e42-4a5c-9ac2-110f82e55fa2:2796</guid><dc:creator>MySolutionSpot Editor</dc:creator><slash:comments>2</slash:comments><comments>http://www.mysolutionspot.com/market-research-and-competitive-analysis/new-index-reveals-america-s-small-businesses-are-optimistic-about-their-future-1876/</comments><wfw:commentRss>http://www.mysolutionspot.com/articles/commentrss.aspx?SectionID=39&amp;PostID=2796</wfw:commentRss><description>&lt;p&gt;&lt;i&gt;Majority of 1,000 Small Business Owners Surveyed Were Profitable in 2008, Believe Success will Continue or Even Improve This Year &lt;/i&gt;&lt;br /&gt;&lt;br /&gt;&lt;b&gt;Herndon, VA &amp;ndash; March 12, 2009 &amp;ndash;&amp;nbsp;&lt;/b&gt; Network Solutions&amp;reg; (&lt;a target="_blank" href="http://www.networksolutions.com"&gt;www.networksolutions.com&lt;/a&gt;) and the University of Maryland&amp;rsquo;s Robert H. Smith School of Business (&lt;a target="_blank" href="http://www.rhsmith.umd.edu"&gt;www.rhsmith.umd.edu&lt;/a&gt;)&amp;nbsp; announced today the launch of the Small Business Success Index&amp;copy;, an ongoing measurement of the overall health of U.S. small businesses based on a telephone survey of 1,000 small business owners. The benchmark survey, which gathered data used to create the Small Business Success Index, was conducted in December 2008 and January 2009 and found that &lt;b&gt;69% of small businesses were profitable in 2008.&amp;nbsp; &lt;/b&gt;&lt;br /&gt;&lt;br /&gt;The Small Business Success Index also revealed the &lt;b&gt;majority (69%) of those who showed a profit in 2008 said their success was equal to or better than the previous year and 70% of small businesses expect their firms to still be operating in five years as opposed to being closed, sold or transferred.&amp;nbsp;&amp;nbsp;&lt;/b&gt; Regardless of the current economic downturn, nearly half of small businesses surveyed believe the economy will improve or at least remain unchanged in 2009.&amp;nbsp; In fact, small businesses are still investing in their companies with &lt;b&gt;67% planning to spend the same or increase overall business spending,&lt;/b&gt; according to survey results.&amp;nbsp;&amp;nbsp; &lt;br /&gt;&lt;br /&gt;According to the U.S. Census Bureau, there are more than 27 million small businesses in the United States, employing more than 40 million people1.&amp;nbsp; &amp;ldquo;American small businesses are the bedrock of the U.S. economy, generating more new jobs than big corporations, but they find themselves without assistance from the government during these unsettling times,&amp;rdquo; said Roy Dunbar, CEO of Network Solutions.&amp;nbsp; &amp;ldquo;Network Solutions believes it is especially important now to establish a way to monitor the health of this vital segment of our economy, so that all who serve this constituency will be able to better address their needs and help them succeed.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Small businesses included in the study were privately owned (not publicly traded), for-profit, had fewer than 100 employees and had a payroll and/or contributed to at least 50% of the owner&amp;rsquo;s household income.&amp;nbsp; The resulting Small Business Success Index identifies and measures the factors that lead to success. A small business can compare its company to its peers by taking the survey and receiving a quantitative analysis in return at &lt;a target="_blank" href="http://www.growsmartbusiness.com"&gt;www.growsmartbusiness.com&lt;/a&gt;.&amp;nbsp; &lt;br /&gt;&lt;br /&gt;"Small business owners&amp;rsquo; optimism during the current economic downturn has a correlation to how competitive they are in being customer oriented,&amp;rdquo; said P.K. Kannan, director of the Center for Excellence in Service at the University of Maryland&amp;rsquo;s Robert H. Smith School of Business. "Those that are more engaged in understanding their customer needs, creating relationships with customers and increasing the value of their customer base through marketing activities and innovations are also those that are the most optimistic."&lt;br /&gt;&lt;br /&gt;&lt;b&gt;Key Findings from the Small Business Success Index:&lt;/b&gt;&lt;/p&gt;
&lt;p&gt;1) Small businesses are succeeding despite the economic downturn.&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;69% of small businesses made a profit in 2008&lt;/li&gt;
&lt;li&gt;7% of small businesses report that they broke even&lt;/li&gt;
&lt;li&gt;The majority (69%) of those who showed a profit in 2008 indicated it was equal to or&amp;nbsp; better than 2007 &lt;/li&gt;
&lt;li&gt;70% of small businesses expect their firms to still be operating in 5 years as opposed to being closed, sold or transferred, and of these, 66% expect to be bigger in size&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;2) Small businesses are optimistic, regardless of the current gloomy economic situation.&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;23% of small businesses believe the economy will improve in 2009&lt;/li&gt;
&lt;li&gt;26% of small businesses believe it will remain unchanged in 2009&lt;/li&gt;
&lt;li&gt;48% of small businesses expect a decline in 2009&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;3) Small businesses are still investing in their companies, in spite of the 48% of small business owners expecting the economy to be in decline in 2009.&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;25% plan to increase their overall business spending&lt;/li&gt;
&lt;li&gt;42% plan to spend the same&lt;/li&gt;
&lt;li&gt;31% plan to decrease their spend&lt;/li&gt;
&lt;li&gt;23% plan to increase spending on professional development of employees&lt;/li&gt;
&lt;li&gt;26% plan to increase their internet marketing budgets, including online advertising and website development&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;
&lt;p&gt;For more information about the Small Business Success Index, please visit &lt;a target="_blank" href="http://www.growsmartbusiness.com"&gt;www.growsmartbusiness.com&lt;/a&gt;.&amp;nbsp; &lt;br /&gt;&lt;br /&gt;&lt;br /&gt;# # #&lt;/p&gt;
&lt;p&gt;&lt;b&gt;About Network Solutions, LLC&lt;/b&gt;&lt;br /&gt;As the leading provider of Web solutions for small business, Network Solutions offers a full range of services that include easy to build websites, hosting, web design, e-commerce software, search engine marketing, SSL certificates, e-mail services, and domain name registration. Network Solutions draws on 30 years of experience to make it simple and affordable for customers to build and manage an online presence through a one-stop Web solutions provider.&amp;nbsp; &lt;a target="_blank" href="http://www.about.networksolutions.com"&gt;www.about.networksolutions.com&lt;/a&gt; &lt;br /&gt;&lt;b&gt;&lt;br /&gt;About the Robert H. Smith School of Business&lt;/b&gt;&lt;br /&gt;The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 13 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, MS in business, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations on three continents &amp;mdash; North America, Europe and Asia. &lt;a target="_blank" href="http://www.rhsmith.umd.edu/about/"&gt;www.rhsmith.umd.edu/about/&lt;/a&gt;&lt;br /&gt;&lt;br /&gt;&lt;b&gt;About Rockbridge Associates Inc.: &lt;/b&gt;Rockbridge Associates Inc. is a leading market research firm based in Great Falls, Va. Clients includes Fortune 500 companies, government agencies and associations. Rockbridge conducts primary research and consulting to help with product design, positioning, pricing, and customer satisfaction. &lt;a target="_blank" href="http://www.rockresearch.com"&gt;www.rockresearch.com&lt;/a&gt;&lt;br /&gt;&lt;br /&gt;1.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Small Business Administration&amp;rsquo;s Office of Advocacy&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;</description></item><item><title>Calling All Real Estate Agents: Your Potential Customers Are Looking for You Online</title><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/calling-all-real-estate-agents-your-potential-customers-are-looking-for-you-online-1501/</link><pubDate>Wed, 10 Sep 2008 17:29:01 GMT</pubDate><guid isPermaLink="false">6570dea7-6e42-4a5c-9ac2-110f82e55fa2:1852</guid><dc:creator>Nit Sujatanond</dc:creator><slash:comments>11</slash:comments><comments>http://www.mysolutionspot.com/market-research-and-competitive-analysis/calling-all-real-estate-agents-your-potential-customers-are-looking-for-you-online-1501/</comments><wfw:commentRss>http://www.mysolutionspot.com/articles/commentrss.aspx?SectionID=39&amp;PostID=1852</wfw:commentRss><description>&lt;p&gt;If you belong to the real estate industry, you know better than anyone that your industry is fiercely competitive. However, you also understand that you must invest money to make money. Therefore, you continue to purchase property listings in local newspapers and/or real estate magazines.&lt;/p&gt;
&lt;p&gt;The truth is the efficacy of these listings is limited because every real estate agent and company in your town is also utilizing the same marketing channels. To stand out, you should take advantage of the untapped resources available online. By doing so, you are not only going a step beyond your competitors but also responding to new consumer trends.&lt;/p&gt;
&lt;table align="top" cellpadding="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td&gt;Research has shown that real estate shoppers are heavily relying on online sources when researching new homes, apartments or neighborhoods. &lt;br /&gt;&lt;br /&gt;In fact, data from a May 2008 Pew Internet &amp;amp; American Life Project report, &amp;quot;The Internet and Consumer Choice,&amp;quot; states that 50% percent of their survey respondents search Web sites belonging to real estate agents and companies, 51% research communities or neighborhoods online, and 54% take video or virtual tours of real estate properties.  &lt;br /&gt;&lt;br /&gt;The study goes on to say that 42% of these real estate shoppers search online newspaper classifieds, 32% search ad sites, 24% browse community blogs and 19% post and view messages on online forums. These significant percentages show that for these shoppers, the information they find on the Internet has the power to influence their purchase decisions. 
&lt;/td&gt;
&lt;td&gt;
&lt;img src="http://www.mysolutionspot.com/cfs-filesystemfile.ashx/__key/CommunityServer.Components.UserFiles/00.00.00.26.09/Real-Estate-Online-Research-Activities-of-US-Internet-Users.gif" alt="" /&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;p&gt;&lt;b&gt;Responding to New Trends&lt;/b&gt;&lt;br /&gt;Now that you recognize the possibilities that come with the Internet, how should you take action? If you want to take gradual steps, then first create ads for online classifieds and ad sites. These ads are practically identical to your print ads. The only difference is that they are online. Once you have submitted these listings, post messages about your available properties on community blogs and message boards.&lt;/p&gt;
&lt;p&gt;While smaller actions like these can help expand your reach, the most effective strategy is creating your own Web site. Your real estate Web site will not only help you develop a Web presence, but it will also help strengthen your brand. It will create a centralized location where real estate shoppers can conveniently browse through and learn more about your company and the properties you represent. Furthermore, because of the flexibility of your site, you will have the space necessary to describe in detail each property and the community in which it is located. The more perks you can highlight, the more convincing you will be.&lt;/p&gt;
&lt;p&gt;Responding to new consumer trends will prove to be quite beneficial for your real estate business. And, in addition to exposing your business to real estate shoppers who practice online research, you might even attract new clients.&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;</description></item><item><title>How Competitive Is Your Business?</title><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/how-competitive-is-your-business-1927/</link><pubDate>Mon, 06 Apr 2009 16:33:56 GMT</pubDate><guid isPermaLink="false">6570dea7-6e42-4a5c-9ac2-110f82e55fa2:2890</guid><dc:creator>Nit Sujatanond</dc:creator><slash:comments>0</slash:comments><comments>http://www.mysolutionspot.com/market-research-and-competitive-analysis/how-competitive-is-your-business-1927/</comments><wfw:commentRss>http://www.mysolutionspot.com/articles/commentrss.aspx?SectionID=39&amp;PostID=2890</wfw:commentRss><description>&lt;p&gt;You regularly advertise on the radio, on TV and in the yellow pages to enhance your visibility. You offer special promotions to drive sales. You even purchase booths at numerous tradeshows to showcase your offerings. However, are you sure you are doing enough to compete in this aggressive market? &lt;br /&gt;&lt;br /&gt;The Small Business Success Index,* an ongoing study of U.S. small businesses, revealed that small businesses utilizing online solutions, such as business emails and search engine optimization, are typically more competitive than those that do not. Their findings include:&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;Businesses who embrace internet solutions such as web sites, and online advertising, are more likely to be competitive.&amp;nbsp; &lt;/li&gt;
&lt;li&gt;Among businesses that have fewer than 5 employees, 60% who use 6-14 internet technologies such as e-mail, Web sites and various types of online marketing, are more likely to be at least marginally competitive when compared to those that have fewer than that amount.&lt;/li&gt;
&lt;li&gt;31% of businesses that use at least 6 internet technologies (e.g., e-mail, search engine optimization, etc.) are highly competitive; only 19% with minimal use of technology are highly competitive.&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;&lt;br /&gt;According to these statistics, using a combination of several online technologies can contribute to your overall competitiveness. So how can you apply these solutions to your business?&lt;br /&gt;&lt;br /&gt;First, your business needs a well-designed business Web site if it doesn't already have one. If you do not know how to &lt;a target="_blank" href="http://www.networksolutions.com/choose-a-solution/index.jsp"&gt;create a Web site&lt;/a&gt;, then you can either purchase an easy-to-use, do-it-yourself Web site template or seek the help of a Web design professional. Both options are now quite affordable. When creating your site, remember to view it as your multi-page advertisement. Its purpose is to explain to consumers why your business is better than the competition.&lt;br /&gt;&lt;br /&gt;Once you have a Web site, you can use &lt;a href="http://www.networksolutions.com/online-marketing/index.jsp"&gt;online advertising&lt;/a&gt; methods, such as search engine optimization, pay-per-click advertising and local search, to make your site more visible to your target audience. Online advertising makes it possible for you to deliver your message exclusively to those who are searching for your product or service.&lt;br /&gt;&lt;br /&gt;Your Web site is not just a promotional tool. It is also a customer service tool. You should always display your contact information and business hours on your Web site to demonstrate your accessibility. Your contact information should include your business's address, phone number and email address. Keep in mind an &lt;a target="_blank" href="http://www.networksolutions.com/email-account/index.jsp"&gt;email address&lt;/a&gt; that matches your domain name is often perceived more positively than a Webmail address. It shows potential customers that your business is professional, and to consumers, professionalism is often viewed as an indicator of experience and competence.&lt;br /&gt;&lt;br /&gt;Online solutions have the power to improve consumer perception of your business. This, in turn, will enhance your competitiveness and make you a stronger industry player.&lt;br /&gt;&lt;br /&gt;&lt;br /&gt;*The Small Business Success Index(SM), an ongoing measurement of the overall health of U.S. small businesses, was commissioned by Network Solutions, LLC and the University of Maryland's Robert H. Smith School of Business.&amp;nbsp; To take the survey yourself, &lt;a target="_blank" href="http://cli.gs/vVyDu3"&gt;click here&lt;/a&gt;.&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;</description></item><item><title>How to Write Survey Questions </title><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/how-to-write-survey-questions-1036/</link><pubDate>Sat, 12 Jul 2008 03:39:26 GMT</pubDate><guid isPermaLink="false">6570dea7-6e42-4a5c-9ac2-110f82e55fa2:1102</guid><dc:creator>MySolutionSpot Editor</dc:creator><slash:comments>0</slash:comments><comments>http://www.mysolutionspot.com/market-research-and-competitive-analysis/how-to-write-survey-questions-1036/</comments><wfw:commentRss>http://www.mysolutionspot.com/articles/commentrss.aspx?SectionID=39&amp;PostID=1102</wfw:commentRss><description>&lt;p&gt;&lt;span style="font-size: small; font-family: arial,helvetica,sans-serif;"&gt;Writing quality survey questions is not as easy as people think. Well-written survey questions gather the exact information you need without inciting biased or unclear perspectives within the question itself; a survey question must maintain a neutral stance at all times. Let's analyze a potential survey question: &lt;br /&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class="articletext"&gt;&lt;span style="font-size: small; font-family: arial,helvetica,sans-serif;"&gt; Question: Do you believe religious extremists should be prosecuted for their actions if they hurt another person while protesting? &lt;br /&gt; &lt;br /&gt; Is that a good survey question? In my opinion it is a terrible survey question. I'll explain why. &lt;br /&gt; &lt;br /&gt; When we ask questions, they are structured largely based upon our environment - what we know and experience in life every day. This includes prejudices, pre-established perspectives, and our personal interpretation of the world at large. This is okay and actually makes daily communication much easier because the people we communicate with on a day-to-day basis more than likely share our immediate environment. They could be the neighbor who lives across the street or a fellow parent at the local high school football game and more than likely their perception of the world will be similar to ours. When we converse with them, those shared beliefs are communicated silently within the conversation, and the conveyance of ideas and opinions are much more easily shared. To put it another way, two wheat farmers based in the same county but who have never met could more than likely work together side by side all day long without much confusion in their communication. Now imagine a sea-hardened, leather-skinned Alaskan fisherman trying to carry on a general conversation with a green New York tax attorney. That would be an interesting conversation to hear, wouldn't it? These examples are, of course, extreme, but they convey the point I'm trying to make. Unless you deliberately structure your sentences in a neutral manner that does not encourage pre-conceived perceptions, you're going to have erroneous data for your survey. &lt;br /&gt; &lt;br /&gt; Let's look at the question again: &lt;br /&gt; &lt;br /&gt; Do you believe religious extremists should be prosecuted for their actions if they hurt another person while protesting? &lt;br /&gt; &lt;br /&gt; 'Religious extremists' is an extremely poor description. For me, that description brings up images of terrorists, and that is an image that directly conflicts with two other words in the sentence: prosecuted and protests. I don't associate terrorists with prosecution or legal, law-abiding action of any sort. Nor do I associate terrorists with any sort of organized protest. The description of 'religious extremists' convolutes the entire question and, in my opinion, would confuse the person taking the survey and most likely yield useless data.&lt;br /&gt; &lt;br /&gt; 'Hurt another person while protesting'. This description is also confusing. How did they hurt this person? Was it an accidental hot-coffee spill that burned someone's arm? Did the protester shoot someone? Or maybe the protester assaulted an employee who was simply walking by on her way to work? 'Hurt another person while protesting' is simply too vague to be within a survey question. It should clearly describe how the individual was hurt.&lt;br /&gt; &lt;br /&gt; Here is a much more precise survey question that could be accurately answered by the New York attorney, the Alaskan fisherman, or the wheat farmers: &lt;br /&gt; &lt;br /&gt; Do you believe a pro-life activist should be criminally prosecuted for shooting a pregnant woman while she was attempting to visit an abortion clinic during a public protest? &lt;br /&gt; &lt;br /&gt; Although that survey question would invoke an emotional response from anyone who reads it, it still maintains a neutral stance within its description. This allows the reader to give their response based on a clear, unbiased perspective. &lt;br /&gt; &lt;br /&gt; Formulating survey questions is a much tougher task than most people realize. The questions must maintain a neutral stance or they will taint the data being collected and render the survey useless. You should take great care when writing survey questions and have at least several stages of proofreading before the questions are finalized.&lt;/span&gt;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;&lt;span style="font-size: small; font-family: arial,helvetica,sans-serif;"&gt;&lt;a href="http://www.articleated.com/"&gt;Article Source&lt;/a&gt;: &lt;a href="http://www.articleated.com/"&gt;http://www.articleated.com&lt;/a&gt; (http://www.articleated.com/Article/How-to-write-Survey-questions/2995)&lt;/span&gt;&lt;/p&gt;
&lt;p class="articletext"&gt;&lt;span style="font-size: small; font-family: Arial;"&gt;&lt;span style="font-family: arial,helvetica,sans-serif;"&gt;Free survey-site access: &lt;a href="http://reviewus.org/" target="_blank"&gt;top paid online survey databases free online surveys for pay&lt;/a&gt;. Canadian surveys: &lt;a href="http://reviewus.org/canada/surveys.html" target="_blank"&gt;legitimate canadian surveys online&lt;/a&gt;. US surveys: &lt;a href="http://reviewus.org/us/surveys.html" target="_blank"&gt;free membership online paid survey&lt;/a&gt;.&lt;/span&gt; &lt;/span&gt;&lt;/p&gt;</description></item><item><title>Performing a Simple Competitive Analysis</title><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/performing-a-simple-competitive-analysis-887/</link><pubDate>Sat, 12 Jul 2008 03:39:14 GMT</pubDate><guid isPermaLink="false">6570dea7-6e42-4a5c-9ac2-110f82e55fa2:953</guid><dc:creator>MySolutionSpot Editor</dc:creator><slash:comments>0</slash:comments><comments>http://www.mysolutionspot.com/market-research-and-competitive-analysis/performing-a-simple-competitive-analysis-887/</comments><wfw:commentRss>http://www.mysolutionspot.com/articles/commentrss.aspx?SectionID=39&amp;PostID=953</wfw:commentRss><description>&lt;p&gt;Marketing, in its purest form, is based on a thorough understanding of the arena in which your brand competes. That understanding enables you, as a marketer, to successfully promote and sell. &lt;/p&gt;
&lt;p&gt;Successful marketers understand their markets, competitors and customer wants and needs. That understanding gives those marketers an opportunity to be competitive. &lt;/p&gt;
&lt;p&gt;Identifying and analyzing your direct competition is an important first step prior to making a decision about your marketing strategy. It&amp;#39;s vital to the success of a brand because it reduces risk, time required, resources and expenses.&lt;/p&gt;
&lt;p&gt;Picture your competition as a series of concentric circles, like a target with a bulls-eye in the middle. The bulls-eye represents your direct competitors and moving outward from the center the competition grows less direct. &lt;/p&gt;
&lt;p&gt;Bull&amp;#39;s eye, center of target-the specific businesses in your marketing category that offer products interchangeable with your brand in the customer&amp;#39;s view. For example, if you market a regional brand, you may compete against the other regional brands within a 5-state radius. &lt;/p&gt;
&lt;p&gt;Second ring-competitors offering similar products in a different category or who have achieved less significant distribution. Using the example of a regional brand, a product that can be substituted for yours is also your competitor, as is a major national brand. None of these competitors provides exactly the same product as you, but they may be winning lucrative portions of your business. &lt;/p&gt;
&lt;p&gt;Third ring-competitors who compete for &amp;quot;same-purpose&amp;quot; dollars. To the degree that your regional brand, perhaps a beer, is a refreshing product, third-level competitors might be companies that provide other types of refreshment; competitors might be marketers of wine, wine coolers or other alcoholic specialty beverages. &lt;/p&gt;
&lt;p&gt;Carefully consider, from the customer&amp;#39;s point of view, all the alternatives there are to buying your brand. Knowing that, you can assure your brand provides real or perceived advantages over your competitors, beginning with those who market brands that most directly compete with yours. In fact, you can even borrow tactics from second- or third-level competitors to compete more effectively against your first-tier competitors! &lt;/p&gt;
&lt;p&gt;It&amp;#39;s to your advantage to know as much as you can about the details of your competitors&amp;#39; businesses. Study their advertising, promotions and brochures. Analyze their pricing strategies and distribution methods. Talk to their channel partners and end users to determine what your competitors are doing well that you can imitate and what they do poorly upon which you can capitalize. &lt;/p&gt;
&lt;p&gt;Secondary data, as well as information from your sales force or other contacts including your suppliers and customers, can provide rich information about competitors&amp;#39; strengths and weaknesses. Basic information every marketer should know about his or her competition includes: &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Competitor&amp;#39;s market share, compared to yours. &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; How customers and prospects perceive or judge your brand, as well as your competitors&amp;#39;. &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Your competitors&amp;#39; financial strength, which affects their ability to invest in advertising, promotions, and abilities to invest in equipment among other things. &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Each competitor&amp;#39;s capabilities and speed of innovation for development of new products.&lt;/p&gt;
&lt;p&gt;There may be other facts you need, depending on the type of product you offer. For example, if you&amp;#39;re in manufacturing, you&amp;#39;ll want to know how quickly your competitors can fill a typical order, their return policies and what they charge for shipping and handling, etc. &lt;/p&gt;
&lt;p&gt;Once you identify your most direct competition and have a firm grasp on your second- and third-tier competitors, project which actions they&amp;#39;re likely to take in the next year or so. Forecasts of competitors&amp;#39; future activities depend on your knowing and understanding their objectives, strengths in the marketplace and resources. Key intelligence for your brand&amp;#39;s success: &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Annual forecast of sales, spending and profit, promotion and advertising strategies. &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Introduction, support rollout and success of new products. &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Market segment, product category and sub-category trends. &lt;/p&gt;
&lt;p&gt;&amp;middot;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Direction for future growth. &lt;/p&gt;
&lt;p&gt;Gathering competitive intelligence can make a difference between realizing your company&amp;#39;s annual plan or losing business that may never be won back.&lt;/p&gt;
&lt;p&gt;About The Author&lt;/p&gt;
&lt;p&gt;Mark Levit is managing partner of Partners &amp;amp; Levit Advertising and a professor of marketing at New York University. For more information visit &lt;a href="http://www.partnerslevit.com"&gt;www.partnerslevit.com&lt;/a&gt; or call 212-696-1200.&lt;/p&gt;
&lt;p&gt;&lt;a href="http://www.articlecity.com/articles/marketing/article_914.shtml"&gt;http://www.articlecity.com/articles/marketing/article_914.shtml&lt;/a&gt;&lt;/p&gt;</description></item><item><title>Research Data Drives Effective Creative Strategy</title><link>http://www.mysolutionspot.com/market-research-and-competitive-analysis/research-data-drives-effective-creative-strategy-782/</link><pubDate>Sat, 12 Jul 2008 03:39:07 GMT</pubDate><guid isPermaLink="false">6570dea7-6e42-4a5c-9ac2-110f82e55fa2:848</guid><dc:creator>MySolutionSpot Editor</dc:creator><slash:comments>0</slash:comments><comments>http://www.mysolutionspot.com/market-research-and-competitive-analysis/research-data-drives-effective-creative-strategy-782/</comments><wfw:commentRss>http://www.mysolutionspot.com/articles/commentrss.aspx?SectionID=39&amp;PostID=848</wfw:commentRss><description>&lt;p&gt;It&amp;#39;s that time again . . . time to get the ball rolling on your new membership recruitment campaign, or your seasonal ad campaign, or your annual meeting promotion. You need an idea, a direction, an inspiration to guide your creative mind to a result that will be executable, will reach and resonate with the intended audience, and come in within budget. Where do you turn? Hopefully, you turn to the potential customer, in the form of primary research. &lt;/p&gt;
&lt;p&gt;The more you know about the audience for any marketing effort, the more effective that effort will likely be. You know the challenges they face, you know the mindset they use on a daily basis, you know what they need, and can make your concepts, copy and offers sing to the audience in a way that creates action, but only if you have the information you need. &lt;/p&gt;
&lt;p&gt;The way to get that information, in a reliable way that you can use to make decisions, is to be in regular contact with the audience. One of the most effective ways to do that is with periodic in-depth phone research. Get a Reality Check In-depth phone research, when combined with some written survey work on a periodic basis, can help you get an accurate feel for your members or target audience on an ongoing basis, unfiltered by the &amp;quot;pick the middle choice&amp;quot; phenomenon of printed surveys. Done in a truly blind fashion, where the audience has no idea your organization is behind the questions, customers feel secure enough to answer honestly and directly. Even so, most respondents in a small, highly specific prospect pool, especially in a member-based organization, figure out that the word will filter back to your organization eventually, so they feel that this may be an opportunity to air their gripes and get something done on their behalf without complaining directly to you. &lt;/p&gt;
&lt;p&gt;You can also gather information on the positive side as well, as compliments are far more rare then complaints from customers or members of the organization. Customer service benefits aside, true primary research generates not only anecdotal information on your current customers or members, but if you include ex customers or former members in your scheme, there is quantitative data generated that can be projected accurately over the entire audience or prospect pool. And in that data is where the creative inspiration hides. &lt;/p&gt;
&lt;p&gt;Draw Comparisons Inspirational data often comes from the most unexpected numerical comparisons. Most marketing data mirrors the expectations that were built into the questions in the phone survey. In the face of that effect, there is often one set of data that stands out as an unexpected result, either very positive, or extremely negative compared to your own &amp;quot;feel&amp;quot; for that issue. The other comparison that lends itself to driving a creative &amp;quot;hook&amp;quot; is the comparison between the data from your current constituents and your former constituents. Not only will this comparison show you what facets of your organization are working well and retaining customers, but it will also show some of the reasons why the ex-customers left. &lt;/p&gt;
&lt;p&gt;Those are the things you can address in your creative strategy to shore up those perceptions that could be discouraging potential customers from doing business with you. Often an issue you feel is of little consequence turns out to mean an awful lot to the constituent audience. If you find that unexpected &amp;quot;key to their heart&amp;quot;, that should inspire a creative approach that will yield considerable success. Both in the concept and in the copy, hitting that high note repeatedly based on solid research is usually a home run. &lt;/p&gt;
&lt;p&gt;Careful reading and interpretation of that collected data is key to going in the correct direction. Sometimes some additional follow-up research with a small but representative audience to drill down on that unexpected issue can generate some additional, more leading data. That clarification can mean the difference between a home run and a wiff. Occasionally, the opposite scenario plays out, and something you&amp;#39;ve been promoting as a benefit all along turns out to have little importance to the audience. That lack of &amp;quot;resonance&amp;quot; is a disconnect that you now know you can avoid in your copy. That frees up some room to play up the positive aspects you&amp;#39;ve verified with the research data. &lt;/p&gt;
&lt;p&gt;Use The Data You Gather Without the underpinnings of that research, there is little basis for decision-making in the creative process. The data can give you a more sturdy brand profile, it lets you make a persuasive case to senior management, and gives you something to backstop your creative direction. The temptation is often to take the data and twist it to meet the &amp;quot;gut feel&amp;quot; that exists in the collective mind of the organization. Ignore the data at your own peril. If the study is conducted by professional researchers, and there are no clear flaws in the list of respondents and its reflection of the audience is accurate, then let the data drive your decisions. The data doesn&amp;#39;t lie. &lt;/p&gt;
&lt;p&gt;It&amp;#39;s very easy to discount research data when you compare it to your own perceptions, or the preferred perception of the organization, and it doesn&amp;#39;t match. It&amp;#39;s tougher to stick to your guns, believe the data and act upon it. Once you see it work predictably and successfully, you learn to trust the numbers. Prioritize the Issues Once you have the data collected, and the analysis done, how do you make the leap to a creative direction? The secret is in the numbers. &lt;/p&gt;
&lt;p&gt;The basic strategy is that you determine the type of approach based on the read of the top 5 factors in the survey in order of importance. If the top three involve emotional issues, rather than the rational, or intellectual, then the creative approach leans toward a more emotional appeal. For example, if the survey indicates that your organization is not producing results for customers in a particular area, maybe customer service or responsiveness - those are largely emotional issues, as no one likes to feel ignored or not served adequately, but they are not functional issues or operational issues within the organization&amp;#39;s functional mission. The creative approach in that case might involve imagery and copy that plays upon the warm, service-oriented nature of the organization, a one to one approach that is more welcoming and almost apologetic. Of course, you can also pass the info on to the customer service department and improve there operationally as well. &lt;/p&gt;
&lt;p&gt;If you uncover among your top five factors that numerically your satisfaction level among customers is 3 times higher than your ex-customer dissatisfaction ratio, there&amp;#39;s a set of numbers to crow about, and you can take a more rational, numerical approach to the concept and the copy - show you&amp;#39;re keeping customers happy and keeping them longer than ever before. The data still drives the point home, and works to provide you with a creative direction, a springboard toward a winning concept that resonates with the audience. &lt;/p&gt;
&lt;p&gt;&lt;strong&gt;Use A Metaphor&lt;/strong&gt; One of the simplest ways to make the leap from data to concept is to use a metaphor that explains what the data reveals. If you&amp;#39;re trying to illustrate that your company grew its customer base by 200% in the last quarter, or that your customer satisfaction rating improved by 3x over the last year based on some changes you&amp;#39;ve put in place, showing images of outrageous growth - beanstalks, elephants, Cyclops giants, etc.; or show images of size disparity - big bones with little dogs, big sandwiches with little kids, an Oreo cookie so large it won&amp;#39;t go in the glass of milk. The metaphor gives you a way to explain the concept that the data revealed in a way the audience can relate to easily. &lt;/p&gt;
&lt;p&gt;Now, on to those meeting ads, or those membership recruitment ads. Let the data be your guide in these cases as well. If your data shows that 80% of your members don&amp;#39;t go to your annual meeting because it&amp;#39;s too expensive, takes too much time away from the office and the same people go every year and it&amp;#39;s turned into a good ole&amp;#39; boys club, its time to break out the big guns. They are not finding the value in your meetings. Time to fight the perceptions with your own reality and show the members in your ad or brochure that there are benefits to spending the money, taking time away and meeting those good ole&amp;#39; boys face to face. Imagery in this case should be very rational, practical, businesslike, and copy should be extremely benefit-laden, addressing those concerns head on in a way the audience can relate to. &lt;/p&gt;
&lt;p&gt;In many cases, if you get one good lead, one good tip, meet one solid useful connection at a meeting, you&amp;#39;ve made the trip a worthwhile endeavor. Now multiply that by the &amp;quot;possibilities&amp;quot; of the number of typical attendees (some latitude allowed here, no accountants in the wings), and show how the value multiplies with the number of participants - sort of a &amp;quot;you have to show up to win type of approach&amp;quot;. &lt;/p&gt;
&lt;p&gt;&lt;strong&gt;Destination &amp;quot;X&amp;quot;&lt;/strong&gt; Ads focused on the destination are destined to fail for at least a portion of the audience, yet they persist and even proliferate in the member organization landscape. Everyone knows it&amp;#39;s great to go to a meeting in &amp;quot;X&amp;quot; city, if you like that city, and if it has something inherently beneficial or relevant to the meeting&amp;#39;s purpose. If not, you&amp;#39;ll lose the folks who are farthest away and those that are the most cost conscious, almost automatically. No matter what city you pick, those two audiences are lost if the content isn&amp;#39;t up to snuff. You can&amp;#39;t have a meeting good enough to get them to go there. For those who are having trouble finding value in the content, the city is irrelevant. If the content is good and the results beneficial, you can have the meeting in a train station and people will attend. &lt;/p&gt;
&lt;p&gt;&lt;strong&gt;Use Testimonials&lt;/strong&gt; For those organizations hunting for new members, there are many approaches where the data can give you some insights to follow. Testimonial approaches are a very strong framework from which to build value for prospective members. They humanize the organization, provide benefits the audience can relate to easily, and put a face to the issue of keeping members involved and active. Your research data sets showing the biggest challenges members or customers face are the key to crafting solid testimonials that answer these challenges. You can use the top 3-5 problem areas the data reveals and create a series of ads or brochure pages featuring members explaining how their involvement in the organization helped them solve the problem or meet the challenge. They would be highly credible, they would show the organization at work, and they would outline very relevant benefits that would resonate with the audience to a high degree - all driven by a few questions in your phone research survey. &lt;/p&gt;
&lt;p&gt;&lt;strong&gt;Use Everything Available&lt;/strong&gt; There are many creative approaches buried within your primary research, and there are many sources of data that can be used to augment, support and reinforce your primary data and the subsequent analysis. Member application data, tradeshow or annual meeting attendee data, industry atlases or SIC code studies published by the U.S. Department of Labor, can all shed light on your target population. &lt;/p&gt;
&lt;p&gt;There are other kinds of research as well that will generate data, including focus groups, written or e-mail surveys, web surveys, live interviews at meetings or tradeshows, and live long-form personal interviews at a research facility equipped with one way mirrors and camera equipment. All these are viable forms of information gathering, and each has their place in providing you data you can use to form a creative approach to your outreach marketing. The key is to believe the numbers and use them in conjunction with your internal organizational knowledge to drive an effective creative strategy. &lt;/p&gt;
&lt;p&gt;David Poulos, Chief Consultant at Granite Partners, has been providing marketing guidance to firms large and small for over 25 years. He can be reached at &lt;a href="http://www.granite-part.com"&gt;www.granite-part.com&lt;/a&gt;, or by phone at 410-472-4570. More articles at &lt;a href="http://www.granite-part.com"&gt;www.granite-part.com&lt;/a&gt;&lt;/p&gt;</description></item></channel></rss>