Making the most of key trends

05/04/12

Cate Trotter Michael Pattinson

Knowing your customer needs is central to every successful business and without this vital research, it is impossible to create a viable marketing strategy to increase sales and profits.

Taken from the Business 2012 seminar, Making the most of key trends, here are some top tips from Cate Trotter, Head of Trends at Insider Trends and Michael Pattinson, business information specialist in the Business & IP Centre.

What does trend-spotting involve?

Data
Opinion
Technological breakthroughs
Policy
Long-term problems
Throwaway facts

Extrapolate the information

What is likely to happen next?
When?
What makes you think you’re right?
What makes you think you’re not?

Steps to take to utilise the information

Immerse yourself
Build a trend map
Apply timeless truths
Extrapolate

Market research databases, company information, patent specifications and more can be found at the Business & IP Centre. This vital information can enable you to pinpoint customers, keep track of your competitors and find an opportunity in your market.

Industry Guides - lists the most recent and relevant reports, directories, journals and websites for over 30 major industries.

Key sources of market information which you can access freely at the Centre once you hold a Reader pass include:

Market reports
Statistics
Market news
Competitors

Key market research providers include:

Global consumer market research from Euromonitor
Global industrial and technological research from Frost & Sullivan
In-depth analysis of the global retail sector from Verdict
Specialist IT analysis from Ovum
Internet and online marketing analysis from eMarketer

To get in-depth insight into how you can push your retail business to the next level, come to Insider Trends The Future of Multichannel Retail workshop at the Business & IP Centre on Tuesday 17 April 2012

Find out about the Centre’s electronic resources, both databases and ejournals and if you are an ambitious London-based small business looking to take your business to the next level apply now for our new Innovating for Growth programme.