Tag Archives: Business Insight

Marketing Research Sector – From Insight to Foresight?

Another morning that made me thinks in which direction is my career heading? Am I going to be the new hype – the Nate Silver of Middle East? Or am I going to drown in the data piles around me? Marketing research sector at large, haven’t introduced a game-changing idea for quite some time now and as the information age is coming of age the need of conventional researchers is reducing. So what should we do….? Lead or follow? change careers?

And guess what! Miss Monneypenny from ‘Sky fall’ was able to answer my question – She says “An old Dog should learn new tricks”

Here is a presentation, that you might find useful

Jokes apart, I recently attended a training course on Business Planning, and I have learnt one key thing. All markets mature and all products age, you must stay ahead of maturity and keep on innovating. Innovate anything like process, customer expectation, resource utilization, market differentiation. But you must innovate if you want to survive.

So what should I innovate in my projects, what should Marketing Research Sector at large innovate?

In my opinion, we should innovate our human capital. Instead of producing a whole squad of insight discoverers we should aim at producing decision facilitators.

Market Researchers who can give input on processes, business scorecards, performance monitoring and managing systems, marketing strategies, sales plans and forecasts.

To enable us increase and improve the pricing model of research sector. To help us sustain the competition from social media monitoring industry and consultancy firms.

The slide deck reflects my thinking, and following is what I think is a summary of my vision for MR sector. have a look and let me knowwhat do you think

Data to Decision Value Chain

P.S. And while you are thinking about it, listen to this song – it helps to focus. (or okay lets’ admit it I liked the movie a lot)

Advertisements

Turn Data into Decisions through this Simple Decision Making Grid

Who wants to drive corporate decision making through his data? I do. I want to drive organizations decisions in the light of insights.

In my career I have seen ‘numbers’ predicting future like Mad. And I have seen brand managers ignoring numbers like Maaaaaaaad too 🙂

So now that I am a client myself and have dealt with a lot of agencies, here is a simple Grid that I follow to drive key decisions internally.  Continue reading

6 easy ways to target the Muslim Market

Hello, welcome and Salam,Thanks for taking time out and stopping by at my blog. Today’s post is about the insight we as marketers are overlooking when we target Muslims. I have posted earlier on the same topic; you can find that post here

I will try to summarize below my conclusion about what insights are missing when we target Muslims.

  • Imagery Driven: I am not sure when marketers will realize Islam is beyond crescent, veils and prayer mats. (may be the end of the Mayan Calendar will be the beginning of that realization – pun intended)
  • Muslims are undoubtedly a big and juicy market USD 2 trillion, but there are not enough specialized advertising agencies, other than Ogilvy Noor, for this market segment when compared to other Niche segments like Hispanic Market.
  • Young: On an average, Muslims of the world are 27 years old. Your typical YPE, generation Y & generation x. Imagine their lives, facebook, multiculturalism, strong faith and tons of media bombardment trying to tell them that they are backward or fundamentalists. They clearly seek clarity what is stopping brands to offer them that?
  • Indonesia & Malaysia have done some interesting advancements in Islamic Branding front like introducing a Fashion brand etc. I crave to see more of that coming from rest of the world.
  • Muslims are travelling: I have a privilege to live in UAE (most of you know it as Dubai), everyone here travels at least once a year. And when we do, trust me it is hassle to find comfort from small to large things e.g. availability of water in washrooms, halal food, Ramadan timing breakfast etc. The market spent of Muslim Travellers is around USD 126 billion, tourism industry must try to capture it.
  • Less Judgmental: Aren’t we a bit too quick in drawing our conclusions when it comes to religious minority or majority? Here is an interesting article about that

Have a look at the presentation and slides, hope you will find them interesting.

Continue reading

3 Emerging Consumer Trends

Customer Trends helps us to shape ourselves according to consumers’ expectations, following are 3 trends which are affecting the consumer. It is now up to us to use them or ignore them.

Trend

Insight

Opportunity

The Aware Consumer

We are talking to consumer, who are well traveled, informed and aware about their rights.   They are becoming allergic to meaningless brand promises. And legislation and watchdogs are giving them new information about their choices  

They seek a genuine relationship with brands. Be Honest with them, try to be a partner to them in their journey of life.

Lonely but connected

Massive friends on FB but Living alone. Consumers are disconnecting from real life. And they know this.

 Help consumers’ to get back in touch with Real Life

Seeking a Meaning

Gen Y is more aware and hence are more conscious. Trend watching calls it Emereging Maturlism, you may call it a consumer who wants to make a positive impact

Offer consumers a chance to add a positive foot print, you will be pleasantly surprised

The key that sets good researchers a part from bad researchers is not the ability to compute. It is basically, the eye for an insight and the guts to inculcate that insight in to decisions. Best of luck to everyone out there who is trying to do that, sooner or later we will crack this code together.

Data visualization future in Marketing Research

I started today with the typical Monday blues. (for those who don’t know, in Dubai we work on Sundays’)

Reports, tables, data sets started to pile up in my inbox and the brain just refused to work. So I went online and surfed through some of my favorite blogs & websites and landed on the results of WPPed Cream. And there is when I found something which can make your weekend a little brighter.

TNS Digital Life is the winner in the WPPed Cream, Consumer Insight section. I strongly recommend that you have a look at it, you might be pleasantly surprised with the data visualization and cross country comparisons.

Infographic – TNS Digital life UAE-Singapore

The second thing I observed that Kantar has a Creative Director….! Aziz Cami. I am delighted to know that Research companies have finally realized the importance of data visualization and presentation and this is a warmly welcomed move by Kantar. I hope others will soon follow. This indicates that in future, we expect to have a creative division in Agencies’ looking after syndicated data.  Finally. Continue reading

UAE customer Trend: 6 questions that TGI (Target group Index report) raises about UAE Food market

TGI 2011 product book aims at providing percentage penetration of multiple product categories in different countries.

What I have done in the following table is that I have compared penetration of food products in UAE with countries that have scored high in that category. 

Product Category % Usage UAE Country with highest Consumption % Usage
Baby or Junior Food 14% Croatia & Slovenia 36%
Mineral Water 98% Bahrain 95%
Chewing Gum 63% Iran 82%
Colas 72% Philippines 94%
Oils for Cooking and Salad (Main Shoppers) 94% Almost all countries have above 90% except South Korea 50%
Potato Crisps and Potato Snacks 83% Kuwait 87%
Fizzy Soft / Energy Drinks (excluding Colas) 85% Denmark 89%
Ice Cream 90% Denmark 98%
Instant Coffee 61% Israel 80%
Ready-to-Drink Fruit and Vegetable Juices 91% Denmark 93%
Tomato Ketchup 90% Philippines 96%
Mayonnaise 64% Venezuela 96%
Soup 65% USA 89%
Tea (Loose and Bags, including Fruit and Herbal Tea) 93% Indonesia & Poland 98%
Yoghurt 94% Iran 98%

Now this data set poses following questions  

  1. Is UAE market of Colas smaller than the market of Fizzy drink/energy drinks?
  2. Cola market is smaller than ready to drink fruit and vegetable juices? If yes, then Almarai, Al Ain juices and other such brands have done a good job
  3. Obesity in UAE is rising, maybe because of 83% penetration of potato crisps?
  4.  Why Chewing Gum penetration is only 63%?
  5. If South Koreans are not using oil for cooking than what are they using, because that might lead to low level of obesity?
  6. Is there a room for expansion in Mayonnaise or soup market in UAE, considering the eating habits of majority?  

The sampling details for TGI-UAE market are as follow

  • UAE 15+
  •  8 urban cities
  • Sample Size  5,000
  • Jul 2009 – Dec 2009

If you have more questions and want to contact TGI group directly, you can drop them an email at enquiries@globaltgi.com