JOHN IDUH’s Market-Sensing


John Iduh’s Market-Sensing supports brands understand Markets [CUSTOMERS, entities or individuals in the market who participates directly or indirectly in the production, delivery or purchase of a products or services along the value chain]. Market-Sensing unfold insightful ideas [deep understanding of a customer’s needs and behaviors—both known needs that the customer can identify, and the latent needs that they cannot] and translate the implications for business recommendations in developing:

 

Strategies

Development Practitioners can use customer insights for broad-reaching business or strategic initiatives: to identify new growth opportunities for an entire market; to identify opportunities for MSEs to link into local, national, or global markets; to quantify the increased sales or profitability associated with these market opportunities; or to define upgrades in the value chain that will create the most benefit for all participants

Innovation: 

Customer insights can be used within a value chain to identify where the most significant needs are; which products or services will best serve those needs; and by how much sales or profits are likely to increase if customer needs are met. Practitioners can use this information to build MSE interest in these market opportunities and to guide them in deciding what products or services to offer, with which attributes, and at what price.

 Messaging: 

Customer insights can be used along the value chain to identify the best target audience for a product and to design the marketing approach that will drive these customers to purchase the product. Insights can also be used to link MSEs to customers along the value chain or to match a product to an end-consumer.

 

JOHN IDUH's  Marktet-Sensing Tools:

Survey:  

Market-Sensing delivers customer Insights with the aid of Surveys: questionnaires developed to collect responses to closed-ended questions from a pool of customers. Few primary research tools can provide quantifiable data representative of a target population as effectively as surveys can. Surveys with large respondent pools—such as end-market consumers or retailers— can also be used to calculate market opportunity, and they allow the results to be generalized to the population in a way that qualitative tools cannot.

Conjoint: 

Market-Sensing also delivers actionable market information through conjoint analysis:  a type of survey question that uses trade-offs to reveal the relative importance of different product attributes to a customer. There are several variants, but a choice-based conjoint will typically present a few product variants, or “offers,” to a survey respondent. Each offer will be similar enough to other offers to be comparable, but different enough that the respondent can have a clear preference for one over another. The respondent will be asked to choose his or her preferred offer. He or she will then be presented with another set of offers, and again asked to choose his or her preferred offer. This exercise is repeated several times. The resulting conjoint data is analyzed to reveal customers’ preference for different product features and pricing.

Max Diff: 

Market-Sensing delivers market insight through Maximum Differential Analysis (Max-Diff), which allows organizations to measure the importance that customers place on different brand or product attributes. Like conjoint analysis, a max-diff analysis is a survey technique that forces customers to reveal their preferences around a given set of brand or product attributes by forcing trade-offs between a few items. Unlike conjoint, each attribute is evaluated individually against the others, while a conjoint examines joint trade-offs.

 Piloting: 

Market-Sensing delivers Customer insight through Piloting or prototyping by live customer-trials of product or service offerings that involve putting prototypes in front of the customer. Live customer trials provide invaluable feedback to businesses that want to offer a new product or service, gauge interest in a modified product or service, or test pricing.

  Ethnography:

Market-Sensing Develops an understanding of how people live, work, eat, and sleep through close observation, i.e., through immersion in a customer’s home or business environment. This tool can yield deep insights into people’s behaviors and unmet needs by enabling a holistic view of customers and their environment as well as a discussion of the needs they cannot articulate.