New Insights
We develop new insight by using our Discovery Process and connecting what we learn back to your ability to create and capture value in the market.
To accomplish this, we immerse ourselves in your industry and engage in an on-going, open learning process. We start with what you know. We mine your internal data, interview players throughout your organization and study research you’ve conducted in the past. The next step is to explore what you don’t know. For this we go to the market. We talk with:
- Customers … yours, the competitors and potential customers
- Your channels, the competitor’s channels and potential channels
- Industry experts
- Associations and government sources to build data on the size of the opportunity
QDI’s Discovery Process paints a clear picture of your markets. It’s based on factual knowledge, market input and our expertise and has been fine-tuned over more than 20 years of consulting. To develop the in-depth market understanding that leads to actionable marketing plans, we have to learn how the market talks, how the market makes decisions and where specific product classes, vendors or customers fit within the market’s business priorities. No one can write a questionnaire that will provide this information. Instead, we have to start with what we know and modify our questions, often on a daily basis, and even during individual interviews, to learn what we don’t know.
Our research approach is based on the Grounded Theory research concept. Grounded Theory is a qualitative, interpretive, discovery-oriented research method similar to ethnography, which is designed to facilitate theory construction from field data. In our work, the theory we are trying to construct focuses on how the market behaves and how our client’s actions can alter market behavior. What distinguishes Grounded Theory from other research is that it’s constantly evolving. It moves from the general to the specific and doesn’t set out to test a hypothesis.
Although many qualitative methods can be used in grounded theory, we rely primarily on unstructured in-depth interviews and secondarily on document analysis and observation. During interviews we collect both qualitative and quantitative data. Constant comparison is the heart of the process. At first we compare interview (or other data) to interview (or other data). Theory emerges quickly and then we begin to compare data to theory. Patterns appear either as links between categories or as insights about a core category.
These patterns form the foundation for potential segmentation strategies based on how customers behave and how they value different offerings.
We use the information gained from our discovery process to build market models. The models serve as the foundation for strategy development. They roughly size market segment potential, provide utility estimates of customer value for each segment and identify key drivers of change in segment behavior.
When necessary, we develop more qualitative research models using hundreds of samples to measure and project the behavior of customers on multiple dimensions. We use several statistical techniques from basic regression analysis, to conjoint analysis to more complex factor analysis. To design and execute large-scale quantitative research projects, we form a cost-effective relationship with another market research firms.
QDI’s market effectiveness model serves as a framework to quantify the impact different strategies and tactics will have on your market performance. As we navigate this process, we continually evaluate the strength of your value proposition on strategic decisions.
Ultimately, your ability to create and capture value is the cornerstone to a successful marketing strategy. If you can clearly define the value you create and how you will capture that value, you have the confidence of knowing you have a market strategy. Otherwise, you have nothing more than a wish list of actions—and the hope that they will drive growth.
