Creating Market Insight (PDF)

Preface. Acknowledgements. Chapter 1. Success, Strategy and Understanding. What is success? Success comes from strong strategy. What does a strong marketing strategy look like? What is this 'market' into which we're trying to gain insight? The importance of market understanding. Chapter 2. The difficulty of gaining insight. Market complexity is making it harder to create market insight. Market turbulence is making it harder to create market insight. The frequency of failure. The failure of data analytics. Chapter 3. How Well Do You Understand Your Business Environment? The importance of self awareness. Test your understanding. Scanning mechanism. Chapter 4. What Does Market Insight Look Like? When is an insight not an insight? A taxonomy of market insight. The end in mind. Chapter 5. What Do Real Managers Do to Understand the Environment? Scanning is generally ad hoc, informal and unsystematic. Scanning is embedded and hard to manage. Scanning is typically under-resourced, unmeasured and unrewarded. There are four major behavioural clusters of business environment scanning. Chapter 6. Understanding and Assessing the Complexity and Turbulence of a market. What is a market? Understanding market complexity. A process for evaluating market complexity. Understanding and evaluating market turbulence. Combining the assessments of market complexity and market turbulence. Chapter 7. What is the best way to understand the business environment? Strengths and weaknesses of Analysts. Strengths and weaknesses of Categorists. Strengths and weaknesses of Monitors. Strengths and weaknesses of Viewers. The best way depends on the market. Chapter 8. Putting it together - how firms create insight. Developing scanning capability to make sense of the business environment. From information to insight. Chapter 9. From Insight to Value. Starting point: what market insight do we have? What does our market insight imply? Does it make sense to act on our insight? How can we ensure that our

Dr Brian D Smith is a researcher, author and advisor in the
field of competitive strategy. Working at Open University, Europe's
largest business school, he has published over 100 books, papers
and articles in this field. he works internationally with many
companies including Pfizer, Olympus and the Economist.

Dr Paul Raspin specializes in working with executive and
senior management teams to analyze business environments and
develop effective business strategies. He is an active researcher
and author in the field of strategic management. As a Director of
Stratevolve, a niche strategy consultancy, he has consulted
extensively in Europe and the US on developing competitive
advantage.

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