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Market and Competitor Intelligence in a Business Environment

Market & Competitor Intelligence

The major manufacturers of animal remedy products in New Zealand lacked critical market information on the purchase and use of their products. Individually, each were aware how much they produced. But they didn't have the knowledge from the end users' perspective - what brands farmers purchased in what formats and in what quantities, from whom they purchased and how it was used. The challenge was to set up a tracking system to gather ongoing market intelligence of actual use patterns that was easy to administer, timely, and would provide high quality and accurate data.

Ignite Research established an online panel of large sheep, beef and dairy farmers to record, collate and report on this data on a quarterly basis. Client companies could access this information via an interactive web portal, essentially giving them real time market intelligence at their fingertips.

The knowledge gleaned from this panel has helped the companies: get an indication of overall market size by segment; look at overall market share by company and see how well they are going; make product development decisions based on market share by product; measure the success of the company by trends and see if what they have been doing is working; understand which distribution channels support which brands; and use as communications tools to customers, shareholders and staff of market dynamics.