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Competitive Intelligence

Sound marketing decisions rely on the availability of market information to develop strategy, to decide tactics or to measure performance. However for many organisations the essential information is stored in diverse pockets inside and outside the organisation with little co-ordination in collecting, storing or utilising the data.With the information explosion that has accompanied the development of the Internet- there is an expectation that business information is readily available online and at no cost. But those who have searched without success have realised that finding appropriate and up-to-date information of relevance to key decisions is not so easy.

Turning 'Theory' into 'Practice'?

Business Intelligence today can involve software related to data warehousing, reporting & analysis tools and data integration. This course focuses on the information requirements rather than the technology solutions but by understanding the sources and applications for market intelligence, delegates can ensure their company adopts an integrated approach to collecting and delivering the information required to develop marketing strategy.This workshop is intended to provide a systematic and structured approach to planning and implementing information collection and utilisation. It highlights the importance of collecting information not as an end in itself but for a purpose- to support decision making and drive strategy.

Who should attend?

This course is intended for those who are responsible for the collection and dissemination of market information to management, ensuring that information needs can be met ona regular and planned basis. Job titles may include:Marketing ManagerBusiness Development managerMarketing Strategy ManagerMarket Intelligenece ManagerBusiness AnalystMarket Research ManagerMarketing ExecutiveResearch executiveProduct/Category manager  

Key areas to be covered in the programme and documentation

The need for competitive Intelligence
• Why do we need Information?
• How does information contribute to success and reduces the risks when making decisions?
• The role of market research in building a marketing strategy: How can market research helps to build a picture ‘where are we now?’ and “where are we going?” and contribute to the plan of ‘how will we get there?’
• What is Market Intelligence and how it differs from data, research and insight?

Developing a Market Intelligence system

• Understanding management needs. Guidance on doing an internal survey of management needs
• Stages in developing Market Intelligence system
• Decisions to be made: What do you need to know to build an efficient competitive intelligence system?

What is Market Research?
• The role of market research within a Market Intelligence System
• Methodologies to build the picture: Think beyond the basics of an online questionnaire, Focus Groups or a telephone survey
• 10 Options to consider

UA structured approach to desk research
• Searching in a systematic manner. What is the alternative to using Google to find information?
• Tips on how to locate useful information online
• 10 key sources to try every time
• Pitfalls of using published data. Can you trust what you find?
• How to evaluate online sources?
• When is primary research necessary? Guidance on how to justify the cost associated with undertaking primary research

Competitor Intelligence
• Importance of competitor intelligence. Being aware of both direct and indirect competition
• How to build a competitor’ s profile?
• Checklist of information to collect about the competitors
• Sources to start from
• Applying the primary and secondary skills to building competitor intelligence
• Ethical ways of learning what the competitors are doing
• Setting up a system. How to ensure information is collected and available in a timely manner?

Making sense of all the data
• Selecting what to use and what to discard
• Analysing the data: Finding the patterns that yield the picture
• Putting together a Market Intelligence report
• Presenting data effectively. Suggestions of tools to use to make the findings digestibe
• Adding value- writing recommendations
• Setting up processes for monitoring trends

Benefits to you

• Improve your effectiveness in building competitive intelligence
• Understand how information can provide the basis for competitive advantage
• Identify the key information needed for management decision making
• Learn the steps in setting up an internal market intelligence system
• Discover how to tap key existing sources available in a structured manner
• Know when primary research may be necessary – to capture customer voice
• Ensure that maximum use is made of the large amount of data available
• Use information to support management decisions
• Create the supporting evidence from which to make a case for development, continuation or cessation of the service offering

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

Please contact our office at +44 203 002 3057 for any additional information about the course

Looking to train larger teams in this subject?

dzingim@marcusevansuk.comTailored in-house/in-company training courses and bespoke strategy workshops designed and delivered on-site throughout Europe according to your specific requirements.

All management, personal development and project management public courses featured in our Course Directory are also delivered on an In-Company basis.

Click Here for information on how this course can be delivered for you as an In-Company Training Solution

 


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Further information

UK Enquiries: +44 (0) 203 002 3057
or dzingim@marcusevansuk.com

Non-UK Enquiries: +420 (0)2 5570 7246
or training@marcusevanscz.com

North American Enquiries: +1 312 540 3000 X6714 or emilyj@marcusevansch.com

dzingim@marcusevansuk.com - Marketing Manager EMEA - Professional Training


UK Enquiries: +44 (0)20 7647 2383 : salesenquiries@marcusevansuk.com
European Enquiries: +420 (0)2 5570 7246 : training@marcusevanscz.com

Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac