Idea Transcript
Research and Competitive Intelligence June 9, 2006
TSS RESEARCH & COMPETITIVE INTELLIGENCE
Research & CI: The Value Proposition Market Research & Analysis
Client & Internal Research
Market Perceptions
Voice of our Client
Market Sizing / Growth
Competitor Perception
Industry Benchmarks & Leadership Environmental & Industry Trends Market Penetration
BUSINESS
Client Satisfaction & Quality
INTELLIGENCE
Product Opportunities Voice of our Colleagues
Sector Analyses
Competitive Intelligence Competitor Landscape Competitor Benchmarking Competitor Performance Business Insight & Analysis TSS RESEARCH & COMPETITIVE INTELLIGENCE STRICTLY PRIVATE AND CONFIDENTIAL © 2005 JPMorgan ChasePRIVATE & Co. AllAND rights reserved. JPMorgan Chase Bank, N.A.&Member STRICTLY CONFIDENTIAL © 2005 JPMorgan Chase Co. AllFDIC rights reserved. JPMorgan Chase Bank, N.A. Member FDIC
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Research & CI: The Value Proposition Identify
Product Management was interested in developing a new product
Gather
Conducted in-house research with RMs focusing on perceived client needs
Synthesize/ Analyze
Disseminate
IMPACT
Research showed proposed product qualities did not meet customer needs
Decision made not to devote resources to new product; functionality of an existing offering was enhanced
Resulted in tangible cost savings
Client service ratings raised to ‘Best Practices’ status in the industry
Global Client Service Quality Survey identified areas of opportunity for Client Service Officers (CSO)
Analysis performed on CSO attributes to identify key drivers
Action plans were formed for attributes that would move the overall CSO performance score.
A calling program was developed to enhance CSO efforts around proactive & consultative support
Expand CI coverage to reflect the entire JPMC footprint
Identified pertinent constituents and invited key partners to be part of the decision process
Assess available data, conduct market position analysis and gather insights from key constituents
Expand scope to include key competitors in the new footprint
Dialog around competitor activities has begun among key stakeholders; Better understanding of competitors across all markets has been established
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Competitive Intelligence
Formal program for gathering and analyzing information about our competitors’ activities and general business trends to further our business goals
Program that is focused on what will happen in the future
A tool to gain perspective not precision
Time lost getting precision of numbers = time lost gaining competitive advantage
No paralysis through analysis – focuses on action
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Competitive Intelligence – Program Disciplines The CI program encompasses three disciplines: Process Discipline
Creating a sharing-of-information environment
Providing means for gathering and disseminating information, including dissemination tools
Educational Discipline
Providing guidance to create a more “intelligent” organization
Systemic Discipline
Implementing systemic tools required to maintain a high level of efficiency
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Competitive Intelligence - The Value Proposition
Senior Management
Answers to key strategic questions
Alerts on any late-breaking “hot” topics
Merger/Acquisition insights
Sales and Service
Overview of key developments in the market impacting sales and service efforts
Analyses highlighting product, industry, and customer focus of key competitors
Recommendations on how to sell against competitor strengths and weaknesses
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Competitive Intelligence - The Value Proposition Product Management
Analyses of new product trends and developments
Impact statements reflecting competitor alliance/partnership developments
Analyses of traditional and non-traditional competitor technology developments
Market and Strategy Development
Competitor profiles and strategic impact analyses
Analyses focused on market changes impacting the strategy of our competitors
Analyses of key issues and trends impacting the competitive environment
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Competitive Intelligence – Key Deliverables Weekly briefings /newsbrief Market “event” analyses (‘special briefings’) Alerts on late-breaking “hot” topics Strategic impact analyses Competitor financial analyses Competitor profiles New employee debriefs Trade show intelligence gathering and analysis Recommendations on market/product positioning Intelligence on potential acquisition targets TSS RESEARCH & COMPETITIVE INTELLIGENCE STRICTLY PRIVATE AND CONFIDENTIAL © 2005 JPMorgan ChasePRIVATE & Co. AllAND rights reserved. JPMorgan Chase Bank, N.A.&Member STRICTLY CONFIDENTIAL © 2005 JPMorgan Chase Co. AllFDIC rights reserved. JPMorgan Chase Bank, N.A. Member FDIC
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Market Research & Analysis Establishes an objective foundation of knowledge for the business
by identifying baseline metrics by market segment and geography:
Performance
Satisfaction
Market penetration
Market / wallet share
Trend data
Provides benchmark competitive data Focal point for managing key research and consulting relationships Facilitates the development of the ‘strawman’ for client research
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Client Research / “Voice of our Clients” (VOC) Critical business process to help understand client buying behaviors
and the key drivers of satisfaction / loyalty across all dimensions:
Develops research recommendations based on business needs, requests from business partners and changing market conditions
Identifies and recommends appropriate research methodologies
Engages and partners with the appropriate external vendors
Develops findings, conclusions and recommendations
Delivers results to key stakeholders as an objective 3rd party
Partners with the business to ensure that the recommendations are appropriately interpreted and executed
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Client Research / “Voice of our Clients” (VOC) Research programs include:
Client satisfaction & service quality studies
Depth interviews
Product concept testing
Focus groups
User groups
Client research roundtables
Usability studies
Ethnographic research
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Client Research / “Voice of our Clients” (VOC) Measures performance across all key areas:
Service Delivery / Implementations
Sales / Relationship Management
Product Performance
Product Development and Innovation
Technology
Results drive continuous performance improvement processes:
Improving client satisfaction
Building customer loyalty
Benchmarking ourselves against our competition
Measuring and performance managing our people
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Client Research / “Voice of our Clients” (VOC) Continuous Performance Improvement Obtain Obtain Client Client Feedback Feedback (e.g.,client (e.g.,client interviews, interviews, client client forums, forums, surveys, surveys, focus focus groups) groups) Implementation of Action Plans
The “VOC” Value Chain
Develop Develop Action Action Plans Plans & & Timelines Timelines Determine Determine Root Root Causes Causes Set Set Targets/Goals Targets/Goals
Analyze Analyze Results Results && Assess Assess Client Client Needs Needs && TS’ TS’ Performance Performance
Prioritize Prioritize Opportunities Opportunities For For Improvements Improvements & & Value Value Creation Creation
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Client Research / “Voice of our Clients” (VOC) What differentiates our “VOC” programs …
Support for “VOC” programs at all levels of the organization
Central research organization that provides independent counsel and guidance
Ability to integrate market data, competitive insights and internal MIS with VOC insights to establish a holistic view of the market and our performance
Commitment to ensure that learning translates into action…and change
“VOC” processes are integrated into how we do business
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Benefits of the Integrated Business Model Continual stream of research and competitive intelligence into the
business at all levels…”there is something in it for everyone”
Performance metrics
Market benchmarks
Client insights/feedback
Competitive insights
Massive synergies and efficiencies exist between Research and CI
Common objectives
Business need for integrated deliverables
Similar skill sets
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Questions?
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TSS RESEARCH & COMPETITIVE INTELLIGENCE STRICTLY PRIVATE AND CONFIDENTIAL © 2005 JPMorgan ChasePRIVATE & Co. AllAND rights reserved. JPMorgan Chase Bank, N.A.&Member STRICTLY CONFIDENTIAL © 2005 JPMorgan Chase Co. AllFDIC rights reserved. JPMorgan Chase Bank, N.A. Member FDIC
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