Market Research

Research for Sustainable Competitive Advantage

  • Nine out of ten new product/service launches, fail!
  • Of those launched, 7 out of 10 are researched extensively prior to launch!
  • The reason - simply, any research isn't necessarily reliable research.

The world's most experienced and successful beverage (soft drink and beer/wine/spirit) marketers spend $000,000's on specific product research prior to launch and on the majority of occasions, experience totally unexpected outcomes, eg:

  • Tooths KB, failed
  • Swan Gold (1980's), failed
  • Powers Big Red (1992), failed
  • Victoria Bitter (1992), a totally unexpected market segment was realised
  • Classic Coke (1980's), failed
  • Pepsi Australia (1970-1985), failed

It would be totally dishonest to suggest or infer that a research program of $10,000.00 to $100,000.00 could produce a risk-free strategy, or even low risk strategy without test marketing.

Our considerable experience has shown that guiding consumer research of the type we propose, provides a reliable platform for limited test marketing — fully expecting that fine-tuning will be required during the test marketing. A successful, low risk full market rollout can then be undertaken.

That experience with other companies in your and related industries does not negate the need for research.

It does however give us the understanding to appreciate a considerably wider range of options worth exploring and testing in limited research than would otherwise be necessary. That understanding also ensures the limited required research would be focussed where it will be most productive and relevant.

It is envisaged that in order to produce a strategic approach that reliably delivers sustainable competitive advantage, we would incorporate an analysis of the comparative potential and demands of each of the strategic options offered.

To do this it is often necessary to conduct a Competitor Analysis, together with trade, industry and government research of decision makers and their influencers in all relevant and government distribution channels as well as initial guiding, consumer (internal and external, observational, phone and face-to-face) research of all potential purchasers and users.

Some of the Options

In the first instance, we often involve our US associate, Robert Largen to draw upon the scan material gathered globally, as well as contacting all relevant organisations, identified to be pivitol or interacting with the market's dynamics.

Relationships would be initiated with the key personnel in each of the relevant Projects.

Interview representative samples of government and industry, corporate and current/potential stakeholder organisations, as well as buyers in the distributor, trade and retail outlets operating within all distribution channels.

In addition to establishing the dynamics of the wider market environment and the motivations, needs and aspirations of each, these interviews would be used to test reaction to various hypothesis and scenarios developed by our client, Enright Hendy & Partners or the interviewees.

That material would be shared with our client's nominated representatives.

Concurrently relationships would be initiated with appropriate potential client partners' representatives (of government and industry, supplier, retail, distribution and service) corporations and organisations.

Analyse all Data and agree significance with client Representatives

Competitor Analysis, and Strategic Marketing and Action Plans would be prepared. The favoured Strategic Options would identify and document the best options for development, together with the action plans prepared for that development process.

The ability to create and implement a highly effective low cost communications strategy.

At the conclusion of the Project, our client should have a comprehensive appreciation of more than just that which has been done in all relevant Projects, and the strengths and points of opportunity arising from Competitive Projects.

Our client will also have the best Strategic Options available from the most experienced potential partners and advisers available.

Enright Hendy & Partners has considerable experience in these practices — and holds a library of Australian and overseas industry data and research reports.

That experience suggests that there are a number of appropriate data gathering and analysis options required to maximise the outcomes of any Project:

  • limited face-to-face, group and phone research of consumers and influencers
  • hypothesis testing against consumers (trade and end users) and stakeholders
  • global environmental scanning desk and trade (including consultant) research
  • interview representative samples of buyers in the distributor, trade and retail outlets operating within all distribution channels to establish:
  • perceptions of the current and potential performance of each product/service and its main competitors.
  • profit contribution of the category (and related categories) and their (distributors, trade and retailers) interest in any area of the market
  • perceptions of areas of untapped potential
  • perceptions of the various competitors and their performance and the impact their "way of doing business" (the competitors) has on the market
  • perceptions of what they would like from their ideal supplier
  • their perceptions of the performance of past promotions by suppliers–what do they feel works the best?
  • the nature, preferences (product, brand, packaging and distribution) and behaviour of the various relevant market segments, possibly also testing their reactions to alternate product or service creation/preparation for sale, presentation at point of sale, distribution channels, packaging and/or positionings, as well as new product options altogether

We would anticipate frequent interim reporting as opportunities are investigated, weighted and prioritised.