How might Euromonitor refine its Consulting services to better address emerging market trends and client needs?

Introduction

To refine Euromonitor's Consulting services and better address emerging market trends and client needs, we need to conduct a comprehensive analysis of the current offering, user segments, pain points, and potential solutions. I'll outline my approach to this product improvement challenge, focusing on understanding the evolving landscape of market research and consulting services.

Step 1

Clarifying Questions (5 mins)

• Looking at Euromonitor's position in the market research industry, I'm curious about the current client base composition. Could you provide insights into the primary industries or sectors that are currently using Euromonitor's Consulting services?

Why it matters: This helps us understand where to focus our improvement efforts and identify potential growth areas. Expected answer: A mix of FMCG, retail, and financial services companies, with growing interest from tech and healthcare sectors. Impact on approach: Would tailor solutions to address emerging needs in high-growth sectors while maintaining core strengths.

• Considering the rapid pace of technological advancements, I'm wondering about the current data collection and analysis methodologies. How is Euromonitor leveraging AI, machine learning, or big data analytics in its consulting services?

Why it matters: Determines the level of technological sophistication and areas for potential improvement. Expected answer: Some use of AI for data analysis, but not fully integrated across all services. Impact on approach: Would focus on enhancing AI capabilities and integrating advanced analytics tools.

• Given the increasing demand for real-time insights, I'm interested in understanding the current turnaround time for Euromonitor's consulting projects. What's the average duration from client request to final deliverable?

Why it matters: Identifies potential bottlenecks and areas for process optimization. Expected answer: Average project duration of 4-6 weeks, with some variation based on complexity. Impact on approach: Would explore ways to streamline processes and offer more agile, rapid-response consulting options.

• Considering the global nature of market research, I'm curious about Euromonitor's current approach to localization and regional expertise. How does the company ensure its consulting services are tailored to specific geographic markets?

Why it matters: Helps assess the balance between global insights and local relevance. Expected answer: Regional teams with local expertise, but challenges in scaling this approach. Impact on approach: Would focus on enhancing global-local integration and knowledge sharing.