The growing business handbook : inspiration and advice ... - Sparkler

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82 Gaining market share ●● trained to talk and persuade and tend to be less circumspect than their colleagues in other departments. Interviews with suppliers, distributors and industry experts – in every industry it is worth mapping out the supply chain in order to assess who might be able to provide valuable market intelligence. Those at the centre of the supply chain – intermediaries such as distributors, agents and importers – are often those that know most about the market, as they are in frequent contact with manufacturers and sellers alike. Most markets have a number of ‘experts’ of some kind who are independent and willing to share the information they possess. Industry associations and journalists at industry publications are typical examples. The means of gathering market information varies according to the objectives of the intelligence – are you looking for insight and understanding or are you looking for robust quantification of market size and segments, brand shares or purchase frequencies? Also, the type of methodology depends on who your target audience is. For example, it is easier to use e-surveys when speaking to customers due to the already existing relationship you have with your customers and therefore the response rates of completion are greater, but also the fact that you have at your disposal an accurate e-mail list. However, even from customers, the depth that is gathered through e-surveys is often not as detailed as an administered interview over the telephone or face-to-face. Focus groups (both online and face-to-face) are still used in abundance in business-to-business research to capture qualitative insight, but other methodologies are also utilized that call on different skills such as observational skills in ethnographic research. Clearly, scoping out who you are looking to target very much dictates what methodology is chosen. However, there are few real methodological differences when it comes to obtaining market intelligence in different countries. When it comes to data collection, it is true that Asian markets, for both cultural and logistical reasons, often require more face-to-face data collection than Western markets. It is also true that market intelligence can be more difficult to obtain in developing countries. A key reason for this is that economic records tend to be less well-established. However, a market intelligence provider with well-educated employees and a multilingual capability should be capable of obtaining intelligence across different markets. Indeed, this skill is increasingly essential as the requirement for multi-country intelligence increases. Step 3: Don’t stop digging One of the most important things to remember is that the gathering of market intelligence is delivering insight into a market at that specific moment in time. Many of the issues that affect a customer’s buying decision today will most likely evolve in the future. Also, in this global marketplace in which we all play, change is constant and so not only will needs change but suppliers, prices and products will also change. Therefore, it is not only important that intelligence is acted upon when it is collected
Market intelligence 83 but also that a constant review (or feedback loop) is put in place so that a continuous review of market intelligence is at the centre of all business decisions made. In conclusion For many companies, the first place to look for more sales and therefore growth is among existing customers. Current customers have already made the ultimate gesture of approval and paid money to buy your products. A bit more persuasion and they may buy more. Also, existing customers know and trust the company sufficiently well to do business. So much so, they may give serious consideration to buying a new product or service from the company. However, every company has a product that can travel. New markets wherever they are – new countries or new segments – carry risk and the gathering of accurate market intelligence is a must in making all these decisions. Nick Hague is a founder member of B2B International. He has extensive experience in the design and execution of market research projects across a wide variety of industries. He has carried out dozens of surveys on business excellence and has managed research projects that have spanned over 30 countries. Further details: tel: 0161 440 6000; website: www.b2binternational.com.
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i THIRTEENTH EDITION THE GROWING BU
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iii The perfect property for your
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v Contents Part One Planning for gr
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Contents vii Patenting costs 49 Wha
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Contents ix Part Four People and pe
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Contents xi 6.3 How to find your id
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Contents xiii 9.3 Licensing 233 Ton
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Part One Planning for growth 1
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3 Business models and competitive a
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Business models and competitive adv
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Business models and competitive adv
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Take a look at the map of our campu
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11 How to compete against fastmovin
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How to compete against fast-moving,
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How to compete against fast-moving,
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17 How to build a growth plan 1.3 A
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How to build a growth plan 19 Next
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How to build a growth plan 21 Opera
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23 The SME economic outlook 1.4 Gra
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The SME economic outlook 25 ●●
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27 The growth opportunity 1.5 Manuf
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The growth opportunity 29 To make t
Page 45 and 46: 31 Managing setbacks and turnaround
Page 47 and 48: Managing setbacks and turnarounds 3
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Page 51 and 52: Part Two Ideas and innovation 37
Page 53 and 54: 39 Whole company innovation 2.1 Inn
Page 55 and 56: Whole company innovation 41 of a pr
Page 57 and 58: Whole company innovation 43 create
Page 59 and 60: Whole company innovation 45 Incenti
Page 61 and 62: 47 Innovating out of recession 2.2
Page 63 and 64: Innovating out of recession 49 expe
Page 65 and 66: Innovating out of recession 51 Jacq
Page 67 and 68: 53 Exploring patent information 2.3
Page 69 and 70: Exploring patent information 55 ●
Page 71 and 72: Exploring patent information 57 Mr
Page 73 and 74: 59 IP challenges for technology ven
Page 75 and 76: IP challenges for technology ventur
Page 77 and 78: IP challenges for technology ventur
Page 79 and 80: 65 Making open innovation work 2.5
Page 81 and 82: Making open innovation work 67 the
Page 83 and 84: Making open innovation work 69 an i
Page 85 and 86: Part Three Gaining market share 71
Page 87 and 88: 73 Taking your brand to the next le
Page 89 and 90: Taking your brand to the next level
Page 91 and 92: 77 With over 1,000 titles in printe
Page 93 and 94: 79 Market intelligence 3.2 Nick Hag
Page 95: Market intelligence 81 table 3.2.1
Page 99 and 100: 85 Web marketing 3.3 What’s the p
Page 101 and 102: Web marketing 87 considerable amoun
Page 103 and 104: 89 Winning new business 3.4 In a do
Page 105 and 106: Winning new business 91 back away),
Page 107 and 108: 93 Brand rights 3.5 Name? Logo? Dom
Page 109 and 110: Brand rights 95 trade mark attorney
Page 111 and 112: 97 With over 42 years of publishing
Page 113 and 114: 99 Fit for market 3.6 Confidence is
Page 115 and 116: Fit for market 101 markets abroad a
Page 117 and 118: Part Four People and performance 10
Page 119 and 120: 105 Rewarding good performance and
Page 121 and 122: Rewarding good performance, lowerin
Page 123 and 124: 109 With over 1,000 titles in print
Page 125 and 126: 111 Employment policies 4.2 Belinda
Page 127 and 128: Employment policies 113 information
Page 129 and 130: Employment policies 115 Belinda Cop
Page 131 and 132: 117 Taking on an employee 4.3 Help
Page 133 and 134: Taking on an employee 119 employee
Page 135 and 136: 121 The sharpest minds need the fin
Page 137 and 138: 123 Training for growth 4.4 David G
Page 139 and 140: Training for growth 125 of the trai
Page 141 and 142: 127 With over 1,000 titles in print
Page 143 and 144: 129 Executive search for smaller bu
Page 145 and 146: Executive search for smaller busine
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133 Improving workplace performance
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Improving workplace performance 135
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Part Five Cash flow and working cap
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139 ÒThe message is clear - we wan
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141 Cash flow management: an essent
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Cash flow management 143 3 Keep a c
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145 With over 42 years of publishin
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147 Invoice finance for growth 5.2
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Invoice finance for growth 149 the
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Invoice finance for growth 151 ●
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153 Preventing slow payments 5.3 Do
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Preventing slow payments 155 some l
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Preventing slow payments 157 Graydo
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159 Commercial fraud and business i
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Commercial fraud and business ident
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Part Six Efficient SMEs 163
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165 Build the network 6.1 As you gr
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Build the network 167 essential net
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169 The sharpest minds need the fin
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171 Strategic sourcing 6.2 Plan to
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Strategic sourcing 173 So, how and
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175 How to find your ideal office 6
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How to find your ideal office 177 a
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Part Seven Leading growth 179
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181 How small business owners can b
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How small business owners become be
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How small business owners become be
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187 Developing the next layer of ma
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Developing the next layer of manage
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191 The leadership process 7.3 With
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The leadership process 193 Although
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195 With over 1,000 titles in print
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197 Ethics and the growing company
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Ethics and the growing company 199
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Ethics and the growing company 201
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Part Eight International expansion
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205 Competing and collaborating wit
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Competing and collaborating with Ch
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213 International expansion made ea
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International expansion made easy 2
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217 The export challenge 8.3 As a g
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The export challenge 219 Market Acc
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Part Nine Structures for growth 221
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223 Partnerships and collaborations
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Partnerships and collaborations 225
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Partnerships and collaborations 227
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229 Acquisitions that work 9.2 Stra
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Acquisitions that work 231 Issue 4
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233 Licensing 9.3 In finding the be
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Licensing 235 ●● ●● ●●
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237 With over 42 years of publishin
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239 Preparing a business for sale 9
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Preparing a business for sale 241 g
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Preparing a business for sale 243 L
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Preparing a business for sale 245 C
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Part Ten Growth capital 247
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249 Funding your business through t
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Funding your business through the r
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253 The sharpest minds need the fin
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255 Structured finance 10.2 Structu
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Structured finance 257 Factoring or
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259 Transforming the finance functi
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Transforming the finance function 2
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Transforming the finance function 2
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265 Index of advertisers A.Steele A
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