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 if the data lacks analysis and the analysis lacks action, then stop - You are wasting time and money.
Organisations gather vast quantities of data, much of it financial. Our goal here is to consider how you can turn market data into actionable intelligence that furthers your market growth and ultimately profit.
Marketing information systems
- Is the marketing intelligence system producing accurate, sufficient and timely information about marketplace developments with respect to customers, prospects, distributors and dealers, competitors and suppliers?
- Are company decision makers asking for enough marketing research, and are they using the results?
- Is the company employing the best methods for market measurement and sales forecasting?
Marketing planning systems
- Is the marketing planning system well conceived and effectively used?
- Do marketers have decision support systems available?
- Does the planning system result in acceptable sales targets and quotas?
Marketing control systems- Are control procedures adequate to ensure that the annual plan objectives are being achieved?
- Does management periodically analyse the profitability of products, markets, territories and channels of distribution?
- Are marketing costs and productivity periodically examined?
New product development systems- Is the company well organised to gather, generate and screen new product ideas?
- Does the company do adequate concept research and business analysis before investing in new ideas?
- Does the company carry out adequate product and market testing before launching new products?
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