Market rate is accelerating. Markets are changing at unprecedented prices. Six month old reports in certain computer and electronics fields are like ancient history and keep little on what’s occurring now. MySpace appears; Facebook takes over, Twitter challenges. IPhone, iTouch interfaces radically change user interface principles. To take 2-3 weeks on a poll is no more acceptable in a preponderance of cases. How can a startup taking one Or two years to develop their proprietary product or a small, medium or worldwide company deal with this sort of rapid market change and the demand for information so as to place investment stakes in more productive results, services and products?
Most companies are not aware of Thinking and tools that are now available to help them not only respond, but to anticipate what the next mro industry change will be. For example if a company is not tuned into the social networking today, they are at the mercy of rumors and comments which are traveling around the Web at fiber optic speed. Witness the disgruntled guitar player whose guitar was crushed by baggage handlers at United Airlines and that sang the song United Breaks Guitars into a viral YouTube crowd of 200,000 people. Had United been connected with their audience, they may have had a system in place that addressed customer complaints in a much more effective manner, and avoided this embarrassing — and who knows how expensive — incident.
So how do you keep educated all the time? And is it even possible to do so? Now there are systems and ways of maintaining awareness of your audience that allow for continuous 24/7 watchfulness — ALL the time. Most crucially, continuous audience contact is a necessity if supervisors will grow their business and compete in their market niche. CEOs and management have to be attuned to making all their decisions with new data that is not weeks and months old, but this is hours old. To work in today’s rapid fire Surroundings an executive or middle manager or entrepreneur should possess…
- Market intelligence incorporated into everyday thoughts and activities
- Data that is current and being replenished daily.
- Access to the data all of the time, that is, if you want it, at any given hour.
- Easy, user-friendly access to this information.
- Interactive access which permits supervisors to ask questions of the information.
- Access which enables managers to compare and correlate market groups.
- Textual information that ties into numerical information to give reality checks.
If this type of thinking is not currently being taught in MBA curricula, Marketing Research classes, or Marketing 101 classes in schools and universities, it soon will be.