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 Printable PDF Version Foresighting of new market spaces is the consumer model underlying the business models of market development and diversification. Market development strategy is finding new a market or markets for an existing product. Diversification is searching a new market or markets for a new product.
Because foresighting is about the “unpredictable” future, doing strategic foresighting varies according to the visibility of the unpredictable future. The market strategist must learn how to navigate in three kinds of future visibility. The first and at one extreme is a future that has zero visibility. Nassim Taleb labeled this as the “highly improbable” future or the “Black Swan.” The other that is in the opposite extreme is what Hugh Courtney studied. This is the future with almost perfect visibility. Foresighting in this kind of future yields what Courtney calls the “20/20 foresight.” Between these two extremes are the many cases of foresighting into a more or less 50% visibility where most foresighting models are found. There are three here that have gained the most followings: Edie Weiner’s “trend-countertrend-synthesis” model, Mark Penn’s “mini-trend” model, and Yoram Wind’s “zooming-in/zooming-out” model. In practice, the most beneficial foresighting is in combining different models that fit the usually multi-dimensional future. At the same time, any chosen foresighting model or any combination of models should be consumer researched for their predictive power and validity.
Key benefits for participants
Each participant will learn 3 specific research-user skills, the lack of which has been the most common and most serious research-user weaknesses lamented by top level marketers. These 3 specific skills are:
- how to commission or do the correct market research for a designated marketing decision or brand problem
- how to identify the brand’s correct key marketing problem if this is not known or if there’s uncertainty about what it is exactly
- how to correctly use the market research results for making effective and profitable marketing decisions and/or for solving marketing problems
Key benefits for the company
The company will gain:
- marketing decision-makers who will be cost-effective research users because they now know what research to use, when to use one, and for what specific purpose
- the correct process for translating market research results into the appropriate target market segment selection, sales and distribution programs, and in-store marketing campaigns
- the right attitude toward research as a strategic asset and not only as marketing support, and as an investment and not only as an expense
Program Overview
Module 1: Understanding The Market - Via The UAI For Profiling The Market And For Correctly Identifying The Key Marketing Problem
- Via The FGD (Focus Group Discussion), The IDI (In-Depth Interviewing) And The Observation (Ethnographic) Research
Module 2: Serving The Market
- Via A Tangible Product Offer And Product Testing (Concept And Product Prototype)
- Via A Service Offer And Service Concept Testing
Program Concept
Module 1: The concept of consumer foresighting the unpredictable future - Session 1. Consumer insighting vs consumer foresighting
- Session 2. Models of consumer foresighting: (1) a future with zero visibility, (2) a future with perfect visibility, and (3) a future with more less 50% visibility
- Session 3. Issues in consumer foresighting
Module 2: Foresighting a future of zero visibility
- Session 4. Why bother to predict if the future has zero visibility and where to focus instead
- Session 5. Preparing for: (1) a positive unpredictable, (2) a negative unpredictable, (3) the completely unpredictable.
- Session 6. Aligning the vision with the correct consumer research
Module 3: Foresighting a future of perfect/almost perfect visibility
- Session 7. How to attain the 20/20 foresight and the questions to ask
- Session 8. Cases of wrong 20/20 foresighting
- Session 9. Cases of neglected 20/20 foresighting
- Session 10. Aligning the vision with the correct consumer research
Module 4: Foresighting a future at about 50% visibility
- Session 11. Hybrid model #1: Foresighting via the Trend-Countertrend-Synthesis Model
- Session 12. Hybrid model #2: Foresighting via the Mini-Trend model
- Session 13. Hybrid model#3: Foresighting via the Zooming-in/Zooming-out model
Module 5: Being eclectic in consumer and market foresighting
- Session 14. When to combine foresighting models
- Session 15. Aligning the different visions with the correct combo consumer studies
- Session 16. Using foresighting in corporate strategic planning and market environment scanning
Case examples from the following product/service categories: - Airlines
- Appliances
- Astringent
- Beer
- Beverage
- Camera
- Coffee Shop
- Communication
- Confectionary
- Detergent
- Entertainment
- Electronics
- Eye Care
- Facial Care
- Fast Food
- Hotel
- Juices
- Liquor
- Online Games
- Oral Care Products
- Packaged Snacks
- Pharmaceuticals
- Processed Food
- Real Estate
- Restaurant
- Shampoo
- Supermarket
- Shaving Blade/Razor
- Skin Care Products
- Shoe Care Products
- Telecom
- Toilet Soap
- Vehicles: Jeeps and Trucks
Who Should Attend:
So they can be more strategic and cost-effective Research Users: Marketing and Sales Management Practitioners, Brand / Product Managers, Assistant Brand Managers, Marketing Officers, Ad and Promo Managers, Sales Managers, Trade Marketers, Category Managers, Heads of Support Services
So they can be more user-friendly Research Doers:
Market Research Managers, Research Agency Analysts, Research Directors, Data Processing and Tab Managers; Ad Agency Account Planners.
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