Market Intelligence for Asia-Pacific
Increasingly large budgets have been spent on market intelligence in the Asia Pacific region in recent years, mainly driven by interest in the emerging markets of China and India. With the region’s rapid growth, pace of change and diversity however, many companies find it very challenging to stay on top of local market characteristics and opportunities along their targeted value chains. The upcoming webinar on Market Intelligence for Asia Pacific will provide practical insights into the region for market intelligence professionals, strategic planners and business decision makers.
We ask Pete Read, Senior Vice President, Asia Pacific for GIA for his views on the region and why this webinar will be instructive for anyone interested in Asia Pacific markets.
How would you describe the state of market intelligence in Asia Pacific?
““Traditionally, consumer market research has been the more developed cousin of market intelligence in Asia Pacific. Market intelligence, involving multiple source research into different aspects of the value chain, coupled with analysis to provide strategic business direction, has over the past 10 or 15 years been gaining more prominence.
Many international companies used to commission market intelligence out of global headquarters in Europe or North America, while their Asian offices played coordination roles. It was common to see decisions on Asia Pacific market strategies made in Germany, the US and UK, rather than in regional offices in China or Singapore, for example.
Today, bigger budgets are being managed in the region and decision-making powers on Asian market strategies are gradually shifting east. More companies are moving divisional headquarters to Asia or setting up regional headquarters in Asia to be closer to China and other growth markets, and there is particularly strong interest in market intelligence on China, India and Vietnam, as well as the bigger Southeast Asian economies such as Indonesia and Thailand.
Market intelligence here is still mostly organized under the Sales and Marketing function and, with a few notable exceptions, is used mainly for business basics such as market sizing and competitor monitoring, rather than in more advanced applications like product development or risk management.
Overall, local budgets for market intelligence lag behind those in North America and Europe, but they are on the rise.”
What types of market intelligence are increasingly being demanded in Asian markets?
“Companies need to size their addressable markets, and understand and prioritize geographies to grow in vis-à-vis their offerings. We are witnessing a lot of interest in voice of the customer, value chain analysis, M&A screening and competitive intelligence by international companies.
As growth matures in Europe and North America and demand becomes more saturated in the West due to increased competition globally, people are looking east for newer markets and access to the emerging middle class of Asia Pacific as a source of revenue. To succeed in this strategic shift, they need to develop an understanding of the demand profile, customer perceptions and the existing competition in the region.”
What can we expect from the “Market Intelligence for Asia Pacific” webinar?
“The differences in the scale of markets, cultures, availability of information and so on are common obstacles when conducting market intelligence in the Asia Pacific region. And even within Asian countries, economies within provinces or sub-regions can vary greatly. The Global Urban Competitiveness Report demonstrates this very well when you take a look at the top ten most competitive cities in China.
Most competitive cities in China
| China cities | Chinese city | Global ranking |
| 1 | Hong Kong | 10 |
| 2 | Shanghai | 37 |
| 3 | Beijing | 59 |
| 4 | Shenshen | 72 |
| 5 | Macau | 93 |
| 6 | Guangzhou | 120 |
| 7 | Tianjin | 165 |
| 8 | Dongguan | 195 |
| 9 | Dalian | 218 |
| 10 | Foshan | 219 |
Source: Global Urban Competitiveness Report (2009-2010), Economist
Listeners to the webinar on Market Intelligence for Asia Pacific will gain an understanding of some of the key differences between the various Asia Pacific markets, as well as the constraints in carrying out market intelligence and strategic analysis here, as well as some insights into the types of opportunities that exist within the Asian markets.
We will also present case studies of how companies have managed to gather the market intelligence they needed in order to succeed in Asia Pacific markets.”
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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.
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