Market Intelligence Gathering Research Articles

Market intelligence gathering, asymmetric information, and the instability of money demand

AbstractThe observed money demand in the U.S. had a stable negative relation with the interest rate up until the 1990s. After this period, this relation fell apart and has never been restored. We show that the central bank's ability to gather information, referred to as market intelligence (MI), matters to generate an upward‐sloping money demand curve. We calibrate the model to the U.S. data for the period from 1990 to 2019 and show that MI helps to match the money demand. We also show that it is beneficial for the society, since it mitigates the inefficiency associated with asymmetric information.

Attention-based view on achieving ambidexterity in purchasing and supply management

The focus of purchasing and supply management (PSM) is no longer just on short-term cost savings, but is also on long-term goals such as innovation and renewal. Because of this new dual role PSM needs to balance the short-term goals referred to as exploitation, and the long-term strategic goals referred to as exploration. However, developing in-depth knowledge of the supply markets in order to achieve PSM ambidexterity is challenging, as it requires much managerial attention that is limited in nature. This research draws on the attention-based view (ABV) to study the antecedents of ambidexterity in PSM. Based on a survey of 154 Finnish manufacturing firms, a set of hypotheses was tested using structural equation modeling. The results indicate that bottom-up supply market attention has a stronger association than top-down supply market attention with all three PSM goals: exploitation, exploration and ambidexterity. PSM status is positively associated with both bottom-up and top-down supply market attention. Top management should support activities aimed at capturing supply market opportunities by ensuring that the PSM staff is not overburdened and have enough time to focus on supply market intelligence gathering and analyses. This research is among the first to study the role and enablers of attentional mechanisms that underpin ambidexterity in PSM. A contribution to the ABV theory is made by suggesting operationalizations of managerial attention constructs.

Global expansion of SMEs: role of global market strategy for Kenyan SMEs

There is need for Kenyan small and medium enterprises (SMEs) in particular to focus concern on the orientation of business strategy toward global market strategy, market research geared at obtaining foreign market intelligence, innovation and technology, product adaptation, service orientation, collaborative ventures, and long-range vision as critical factors in making them successful in the international market. They also need to interact effectively with other firms in more or less tightly connected networks of shared production and innovation if they are to succeed in the current wave of globalization. The purpose of this study was to investigate the role of global market strategy on the global expansion of Kenyan firms. The research study used descriptive and inferential design as a chosen design. The researcher used multiple/multivariate regression analysis to determine the functional relationship between the independent variables and the dependent variable. The global market strategy variables considered include the following: market strategy incorporating: global advertising and promotion, external advisory services, foreign market specialization, competitive pricing strategies, and focus on quality products/services; foreign market intelligence on locating markets, trade restrictions, competition overseas, and market and investment opportunities; and logistics and distribution incorporating: handling of documentation, distribution coordination, warehousing, arranging transportation, and collaboration with large firms.A random sample of 205 firms was drawn out of 440 members of Kenya Association of Manufacturers, based in Nairobi, from the Kenya Association of Manufacturers and Exporters Directory of 2012. The senior management of selected firms was surveyed and 175 firms responded making a response rate of 85 percent. The key finding from the research is that there is a functional relationship between global market strategy and global expansion of SMEs. The implication for practice and policy is that there is a need for collaboration between industry and government in pursuing policies for global expansion and among SMEs and large enterprises particularly in developing capacity and collaboration in global marketing strategy, market intelligence gathering, export promotion and strengthening of foreign trade missions. An early-warning system to alert firms of changes that may lead to potential failure in their global business activities can be developed.

Key account management in China: Insights from a Chinese supplier

Although China is the epicenter of global sourcing and has a vastly different context than the West, almost no key account management (KAM) studies have taken the perspective of Chinese suppliers. Our exploratory multiple-method study uses data gathered from a major Chinese apparel supplier and two of their Western key accounts (KAs). Patterns in the data offer insights as to why Chinese suppliers embrace KAM, what KAM activities they engage in, and how they adapt to serve Western KAs. Comparing personnel attitudes (perceived supervisor effectiveness, job satisfaction, and commitment) to those of personnel from suppliers at two Western countries, it seems that comparatively less effective supervisors and stress may harm attitudes at Chinese firms. Overall, our study suggests that Chinese suppliers gain competitive advantage through active market intelligence gathering and adaptive practices. For Western KAs, adapting toward their Chinese counterparts' traditional guanxi tendencies should strengthen supply chain relationships.

Market intelligence gathering in executive search firms

Market intelligence is crucial in ensuring executive search consultants make suitable decisions and deliver informed advice, knowledge and talent to clients. This article examines the types of market intelligence required by executive search consultants and the methodologies and sources used in intelligence gathering. An assessment as to whether the intelligence-gathering process is about who you know or what you know is also provided. The article considers the impact of demands for market intelligence on executive search firms and discusses knowledge management principles and processes as a means of aiding the effective capture, sharing and use of market intelligence. The article concludes with some observations on the skill sets required of researchers in executive search.

A Comparison of Theory and Practice in Market Intelligence Gathering for Australian Micro-Businesses and SMEs

Recent government sponsored research has demonstrated that there is a gap between the theory and practice of market intelligence gathering within the Australian micro, small and medium businesses (SMEs). Typically, there is a significant amount of information in literature about 'what needs to be done', however, there is little insight in terms of how market intelligence gathering should occur. This paper provides a novel insight and a comparison between the theory and practices of market intelligence gathering of micro-business and SMEs in Australia and demonstrates an anomoly in so far as typically the literature does not match what actually occurs in practice. A model for market intelligence gathering for micro-businesses and SMEs is also discussed.

A Comparison of Theory and Practice in Market Intelligence Gathering for Australian Micro-Businesses and SMEs

A Comparison of Theory and Practice in Market Intelligence Gathering for Australian Micro-Businesses and SMEs

The Role of Suppliers in Market Intelligence Gathering for Radical and Incremental Innovation*

Drawing on transaction cost economics theory, this study addresses the following research questions: (1) Does supplier involvement in market intelligence gathering activities have a greater impact on innovation success in predesign or commercialization activities? and (2) Does supplier involvement in market intelligence gathering activities have a greater impact on success in radical or incremental product innovation? Hypotheses are tested using both subjective and objective measures of success from a study of 205 incremental and 110 radical new product development projects. Results from the estimation of a two‐group path model suggest that this theoretical framework is useful in providing guidance as to when product developers should emphasize the gathering of market intelligence through suppliers. Consistent with conventional wisdom, the findings suggest that supplier involvement in market intelligence gathering activities are positively related to success in incremental innovations across predesign and commercialization activities. However, supplier involvement in market intelligence gathering activities is found to have no significant impact on market share and is negatively associated with perceived product performance in radical innovations in predesign tasks. Also, while there was no significant difference in market share for supplier involvement in market intelligence gathering activities between radical and incremental innovation in commercialization activities, supplier involvement in these activities did have a greater impact on perceived product performance in radical innovation than it did in incremental innovation. Although current practice suggests that teams allocate fewer resources to the gathering of market intelligence through their suppliers during predesign activities in incremental innovation projects compared with radical innovation projects, the findings in this study suggest that they should do the opposite. Shifting resources allocated for engaging suppliers in market information gathering activities in predesign activities from radical innovation projects to incremental innovation projects could increase the return on these investments. Alternatively, these resources currently allocated to the gathering of market intelligence through suppliers in predesign activities of radical innovation projects could also provide greater benefits if allocated to commercialization activities of radical innovation projects, where they have the greatest positive impact.

Trade Show/Fair Piracy and Industrial Espionage

ABSTRACT This article raises the concern that piracy and industrial espionage at trade shows and international fairs can adversely affect a firm's competitive advantage. Trade shows are one of the premier opportunities for market intelligence gathering. Corporate intellectual property owners paint a dark picture of lost sales, lowered profits, and damaged brand reputations. Initial discussion examines the unique impact of trade events as a promotional medium while exposing companies to the theft of proprietary and intellectual property. Staff training for those manning the organization's booth or stand is crucial along with a vigilant eye for those auditing the trade event to obtain competitive information. This article is intended to open the discussion and alert corporate managers of the need to be vigilant and to improve the training of personnel representing the firm at exhibitions.

SUPPLY CHAIN STRATEGY FOR NASCENT FIRMS IN EMERGING TECHNOLOGY MARKETS

The extant literature provides sound guidance for applying appropriate supply chain strategies to address conventional market structures and supply chain objectives. However, our knowledge of the unique objectives, characteristics, and elements of supply chain development by nascent technology firms in new markets they have helped create is more limited. We outline the strategy for this “emergent” phase of a firm's development of their supply chain. This strategy emphasizes establishing market legitimacy and a basic structural foundation through a core of strong collaborative relationships. The strategy also maximizes organizational flexibility and iterative market intelligence gathering through continuous experimentation with potential markets and through potential partners. The strategy is contrasted with extant supply chain strategies and implications and directions for future research are offered.

Internet adoption by rapidly internationalising SMEs: a further challenge to staged e-adoption models

There has been considerable recent interest in the literature on the impact of the internet on the internationalisation processes of SMEs. This contribution reports the findings of a four-country study on how internationalising Australian, Canadian, Irish and New Zealand firms utilise the internet. The findings suggest that SMEs in all countries use it extensively for communication purposes and make fairly widespread use of the internet for business processes, marketing and product development purposes, competitor analysis and market intelligence gathering. However, low usage is found in terms of online transactions and supply chain management. From these results, the authors conclude that many rapidly internationalising SMEs do not follow 'stages' of internet adoption suggested by many of the extant e-adoption models.

Changes in markets, technology and resources: prospects for wood-based products

Summary Innovation in the design and manufacture of substitute wood products has made inroads into virtually all our traditional timber markets. The difficulty in re-establishing mass markets for many of these products may possibly arise from changes in building culture whereby the use of substitute products has become established as the industry norm and streamlined through architect-builder-contractor relationships. It is argued that future prospects for wood products will depend on: • forest industry adoption of electronic technology to enhance communication in the value chain; • incorporation of market intelligence-gathering and processing through electronic communication with end users; • simplification of products and the number of grades, sizes and durabilities available to the market; • incorporation of simplified procedures for designing in wood (incorporating design durability principles) into university and TAFE training of architects, engineers and building science students; • integration of component manufacturing and building procedures. New technologies are under development that can potentially automate the manufacturing of wood-based components using wood that has been engineered to meet required performance attributes. Traditionally, species and grades were selected to meet specification requirements for the component.

The Internal Auditor′s Role in Public Service Orientation

Many public service institutions are constrained by their own routines and past practices, which in time affects the internal audit function. In the interests of service effectiveness recommends establishing an overseer of internal auditing matters to take the place of the statutory shackles which are currently binding. First, organizations must clarify their individual missions, if internal audit is to confirm its position as a constructive and purposeful function. Sees a need for market research and intelligence gathering and a widening of internal audit′s horizons. Concludes that public authorities must address the question of whose needs to assess and how.