We Understudy Markets
At Decision City, we understand very clearly that the business environment is in a state of flux, continually changing due to market dynamics, such as are caused by changes in the competitiveness of rivals in the same market space. These rising competition impact on cost and revenues, as clients live with the realities of change and market disruptions.
To keep up with the pace of change in the market, sometimes new products might need to be developed to target new customers in an existing or new market. Within the same space, a firm might deploy an existing product to target new market, due to shifts in market behaviour. To survive, sometimes, it might also be expedient to move out of an existing market to another that is either less competitive or with no competition at all, insofar as the potential for superior profits through unrelated diversification exists.
The big question is how do organisations come by these insights? Of course information exists about customer behaviour and that of generic competitors. There are books, journals and a plethora of articles on the Internet. The bulk of these secondary data are generalists in nature – not specific.
To obtain specific, real-market situations, primary data must be obtained and compared with existing secondary data for effective problem diagnosis and resolution.
How does Decision City provide help? At Decision City we take a consultative approach at all times. We work hard to speak with all concerned, review the micro and macro environments dynamics. We also understudy the changes in the market structure as it affects the immediate client project being undertaken by Decision City.
We take a consultative approach to every client situation and go to work to achieve key business objectives. This helps in our value discovery process that translates into understanding why revenue decreases, costs increase and employees are non-compliant to company directions. We first collect and analyse primary data within the affected department, unit and organisation before going to the market to conduct consumer research and competitive intelligence.
The data obtained from the market studies are statistically analysed to obtain valid and reliable insights into the problem. We then investigate professional and academic literature to relate the findings to theory and practice, based on existing studies. Both ways, primary and secondary values are discovered. Tertiary value is also secured by relating our findings to strategic group practices around the world for performance benchmarking.
The values obtained from the market research are then visualised, documented, and sent to the relevant personnel and department that we report to, based on the terms of contract.
Our recommendations for issues resolution are first of all strategic, helping decision makers to understand and take corrective actions to resolve revenue, cost, and compliance issues.
We also typically make recommendation for learning and development programmes, as part of the report’s implementation programmes, for the implementation teams and heads of affected departments or units that has ownership of the problem being resolved, since we also have exceedingly strong competence in this direction.
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