Belgium, Netherlands and Luxembourg Score Well on Market Intelligence Activities
October 20, 2011. Companies in the Benelux region tend to have large market intelligence teams and by far some of the largest Market Intelligence budgets globally. According to the 2011 Global Market Intelligence Survey, they also have systematic market intelligence operations that pay off. What is behind their success?
In the Global Market Intelligence Survey conducted in March 2011, Global Intelligence Alliance looked at the current state of market intelligence in 74 large and mid-sized companies in Belgium, the Netherlands and Luxembourg. The highlights are discussed here.
Budgets and value
A large majority (84%) of the participating companies in the Benelux region already have a systematic market intelligence operation in place. In all other regions, rates are generally between 65% and 85%. Almost two-thirds of the firms without market intelligence operations, however, do not plan to launch one within the next 12 months.
Compared to other countries, companies in the Benelux region have by far the largest Market Intelligence budgets. The average Market intelligence budget amounts to € 2 million (excluding HR costs). With HR costs, the average budget for Market intelligence is almost € 3 million.
Source: 2011 Global Market Intelligence Survey by GIA
*Click on image to enlarge
The Netherlands and Belgium have been active in attracting large, foreign-owned companies and are leading sites of choice for European headquarters. 20 of the Fortune 500 companies have their headquarters in the Benelux countries. This may be a partial explanation for the large Market intelligence budgets in the Benelux. A previous edition of the Global Market Intelligence Survey in 2007 already showed the relative maturity of Benelux companies when it comes to market intelligence.
These investments in market intelligence seem to be quite successful. 96% of Benelux companies agree that they have benefited from market intelligence. Looking at the investments, 81% of the participating companies in Benelux think that the investments have paid off. With market intelligence, companies make better informed decisions backed by intelligence that is regularly gathered or already readily available.
Source: 2011 Global Market Intelligence Survey by GIA
*Click on image to enlarge
Compared with other European regions, a larger share of companies in the Benelux region agree that they plan to invest more in Market intelligence. Over 70% of those surveyed say they intend to increase their investments in market intelligence over the next two years.
Market Intelligence Set Up
For companies in the Benelux region, market intelligence operations are typically set up under strategic planning / business development and sales and marketing.
Source: 2011 Global Market Intelligence Survey by GIA
*Click on image to enlarge
They tend to have no more than three organizational layers between market intelligence and the CEO, keeping the market intelligence teams close to the top management, compared to other countries.
Source: 2011 Global Market Intelligence Survey by GIA
*Click on image to enlarge
Market intelligence teams are rather large in the Benelux region. On average, 14 people have market intelligence as their primary job. 43% of work is done in a regular fashion and 78% of requests are fulfilled. 54% of the deliverables are produced by centralized market intelligence resources. Based on these metrics, the activities of Benelux market intelligence teams are similar to their European and global peers.
Source: 2011 Global Market Intelligence Survey by GIA
*Click on image to enlarge
Market Intelligence Networks
Internal market intelligence networks involve people with or without a formal mandate to collect and share intelligence. In addition to a core team of about 14 persons, internal market intelligence networks in the Benelux region have about 134 people who actively contribute to intelligence. On average, there are about 339 internal clients, who comprise middle managers (41%) and the top management (31%).
This underlies the strategic importance of the market intelligence team, which is often close to the CEO and tends to focus on critical, strategic information.
Source: 2011 Global Market Intelligence Survey by GIA
*Click on image to enlarge
For answers to how global companies run world class market intelligence functions, download the 2011 Global Market intelligence Survey white paper. Or request a presentation of the country results from the 2011 Global Market intelligence Survey by a GIA consultant today.
For
media inquiries,
send an email to
media(at)globalintelligence.com.
Download any of our Industries White Papers.
More About GIA Industry Practices Automotive | Chemicals | Construction & Property Development | Consumer & Retail | Energy, Resources & Environment | Financial services | Private Equity | Logistics & Transportation | Manufacturing & Industrial | Pharmaceuticals & Healthcare | Telecommunication, Technology & Media
More About GIA Geographical Practices Africa
| Asia - Greater China
| Asia Pacific | Central & Eastern Europe | Latin America | Middle East | North America | Northern Europe | Russia & CIS | Western Europe
More About GIA Functional Practices World
Class Market Intelligence
| MI
for Strategic Planning
| MI
for Marketing & Sales
| MI
for Product & Innovation Management | MI
for Supply Chain Management
| M&A
and Partnering
More About GIA Services Monitoring Services | Strategic Analysis | Rapid Research | Intelligence Software | Intelligence Best Practices
More About GIA How we
work | Expertise
| Clients
| Case
Studies | Global
Locations | FAQ
About
Global Intelligence Alliance
Global Intelligence Alliance (GIA) is a strategic market intelligence and advisory group. GIA was formed in 1995 when a team of market intelligence specialists, management consultants, industry analysts and technology experts came together to build a powerful suite of customized solutions ranging from outsourced market monitoring services and software, to strategic analysis and advisory.
Today, we are the preferred partner for organizations seeking to understand, compete and grow in international markets. Our industry expertise and coverage of over 100 countries enables our customers to make better informed decisions worldwide.
