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How Much Does Market Research Cost?
The cost of market research is influenced by many variables so decisions need to be made wisely. In general, we think of the market research process as having four distinct phases: exploratory market research, primary market research, secondary market research, and reporting insights. Research that is well-planned and efficiently executed will pay off in multiples, making the investment well worth…Read More -
Focus on People to Grow Your Business and Prevent Setbacks
As we head into the final days of Q1, we thought we would take the pulse of CEOs and hear what they are focused on. Fahrenheit Advisors talked to several about their outlooks for 2023. While each leader we talked with operates in a different industry, most shared confidence in the months ahead and a similar approach to capitalizing on…Read More -
9 Free Market Analysis and Competitor Analysis Tools
Pew Research
Quora
Google Trends
Social Searcher
Owler
SimilarWeb
Spyfu
Text2Data
Big Data has transformed the world of business, allowing decision-makers to measure everything about their customers and their staff with the proper competitor analysis tools. But even with this level of information, many companies end up following a doomed strategy. That’s because they're missing the answers to two vital…Read More -
Becoming a CI Analyst: So Your Boss Told You to Do Competitive Intelligence
Competitive intelligence (CI) is a necessary part of forming a business strategy that actually works. The research a team performs on competitors can drive everything from product pricing to trading tactics. CI analysts are the people behind the curtain.
The odd reality is that, while this is a specialized task that requires thoughtful analysis, many times CI is farmed out to…Read More -
Using Crunchbase for Competitor Analysis
Gaining a competitive advantage is not possible without first analyzing your competitors. As you glean big data, it can become a resource by which a company refines their business strategy.. All of the smartest moves, sharpest pivots and most market-responsive acts are steeped in competitor analysis. The benefits are obvious; the process is not always easy.
The internet has, in…Read More -
Types of Market Research: Qualitative vs. Quantitative
Qualitative techniques tend to be used early in the research process. They enable researchers to identify common ideas, needs, and concepts that merit further exploration.
Quantitative techniques are used to prove or disprove the hypotheses generated by qualitative techniques. Quantitative research adopts various primary research techniques to produce vast quantities of data.
The two approaches complement each other well, and…Read More -
CASE STUDY: Global Manufacturer’s Strategic Pivot to Be Competitive
Fahrenheit Advisors’ Peter Grimm, a business strategy consultant and disruption planning expert, worked with a global manufacturer of heavy-engineered equipment to pivot it strategically from a historical product focus to a more customer-centric approach.
A global manufacturer of heavy-engineered equipment had long relied on the superiority of its products and strategic acquisitions to drive growth. Faced with increased competition from…Read More -
Using Michael Porter’s Competitive Strategies In Your Business
Porter’s competitive strategies offer organizations of all shapes and sizes a valuable roadmap towards success. By basing the core elements of their competitive strategy on one of Porter’s approaches, organizations can take their first steps toward building a sustainable competitive advantage. Over time, these competitive advantages help organizations to outperform their competitors, translating to continued growth and superior financial returns.…Read More -
New Expertise Helps Fahrenheit Clients With Business Disruption Preparedness
No business or industry is insulated from disruption caused by technology advancements, workforce transitions, talent shortages, and other fast-moving trends. With the right planning, however, business leaders can anticipate disruption, avoid surprises, and seize opportunities.
Fahrenheit recently welcomed Peter Grimm and Jennifer Buchwald to help clients capitalize on change with:
Sophisticated strategic planning anchored by comprehensive market and competitive intelligence…Read More -
Case Study: Competitive Intelligence Helps Manufacturer Grow
Fahrenheit Advisors' Peter Grimm, a business strategy consultant and disruption planning expert, worked with this client to achieve its growth goals which included expanding into international markets. The following case study summarizes the engagement and outcomes.
A US fertilizer and agricultural equipment manufacturer sought to expand its operations to better serve a growing international customer base. To achieve its…Read More -
Turn Your Competitive Research into an Action Plan
Understanding and then reacting to a changing competitive landscape is required of any business, but not everyone gets it right. It is understandable that many leadership teams prioritize the efficiency of operations, streamlining of communication, and even product development above looking up and out into the market. The outcome of doing this is most-often a best-of-breed-product/service that is no longer…Read More -
Consulting Team from Cipher Joins Fahrenheit Advisors
Peter Grimm and Jennie Buchwald strengthen Fahrenheit’s management consulting and strategic advisory Team with specialized competitive intelligence skills
Fahrenheit Advisors announced today that Peter Grimm, president of Cipher, and Jennifer Buchwald, manager at Cipher, have joined Fahrenheit’s Business Advisory practice. The addition will enhance the firm’s management consulting services for middle-market companies with strategy expertise, disruption planning, disruption preparedness, as…Read More