Insights into markets are valuable when they highlight new market opportunities and provide actionable recommendations for the marketing team. Yet researchers too often deliver ten-year trend analyses that have little resonance with today’s tactic-based marketer. To create actionable market insights, researchers must focus on a single nugget that highlights the opportunity, and expand on its formulation into marketing.
DeepMacro
DeepMacro incorporates “unstructured” data from the internet to produce “point in time” insights about markets. The Internet is constantly radiating data about what people are doing and what they think will happen in the future. This data can tell us a lot about economic growth, as well as how different parts of the economy interact with one another.
The company’s researchers use this information to build asset portfolios based on macroeconomic data. They monitor factors such as inflation and sentiment and incorporate this information into the portfolio construction across multiple asset classes. The team combines expertise in global macroeconomics, systematic portfolio strategies, and Internet data acquisition.
A simple model of competitive markets
A simple model of competitive markets can provide insights into how products and services are sold. The goal of a competitive market is to provide the consumer with sufficient information to make an informed decision. A competitive market involves many different influences that determine the price and supply of a product or service. For example, a consumer may decide to buy a product because of its perceived value or because it is less expensive than an alternative product. This enables consumers to make a choice and agree to a purchase agreement with the seller.
Competition in a market occurs when two or more businesses compete for the same customers. If a seller charges more than the market price, it will face stiff competition. This is called perfect competition. A perfect competition model can help students understand how economic actors behave in a free market.
Consumer insights research
Consumer Insights research can help a business understand which products and services are popular and why. It can also help a company create smart strategies. For example, a beverage company may plan to introduce a new fruit flavor soft drink in three countries, but based on data analysis, it’s clear that the product will only succeed in two countries.
Market research, on the other hand, gathers information about entire markets. It uses quantitative and qualitative methods to identify potential opportunities, gaps, and current needs. The results of a successful market research project are actionable insights that help a business make decisions that will appeal to consumers and reduce wasted resources.
Actionable market insights
The foundation of effective marketing research is actionable market insights. Marketers can generate these insights themselves or use the services of market research partners. By incorporating actionable market insights into research strategies, marketers can maximize the value of their findings. Actionable market insights help marketers understand how consumers are interacting with their products and services.
Actionable market insights can help organizations position their products and services, study trends, and determine where to invest in marketing campaigns. They can also help them assess the impact of their current marketing efforts.
Activation assistance
While insights are an important part of marketing strategy, activation assistance is often necessary to maximize their impact. This assistance guides how to apply insights within your organization. Without the right education and experience, stakeholders may not be confident enough to apply insights. With activation assistance, stakeholders can be guided through the process of applying insights both directly and indirectly.
The key to activating insights is communication. Without it, important processes are likely to break down. It is crucial to building strong communication channels that are tailored to engage stakeholders. This can make the process more efficient.
