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BETTER GRADES. BETTER JOB. BETTER PROSPECTS.

Get One Step Ahead With Mintel

A short guide for students

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Hello studentsSTOP: If you are doing a business marketing or social sciences course, this is one resource you should take note of. Why? As time goes by and the work begins, you’ll need to know about markets, brands, companies and communication. You’ll also need to know about how people think, feel, behave and act in a consumer society.

We’ll make that easy. Because all the data, analysis and ideas you’ll need are available online through the academic.mintel.com website. So, even in the unlikely event that you’ve left doing that assignment until the last minute, you’ll still be able to access the information that will get you through. (Let’s face it there are more than enough complicated sources out there).

To access: Go to academic.mintel.com, if you don’t login automatically ask your library for login details.

MULTIPLE SOURCES PULLED TOGETHER BY EXPERTS.

For the arguments in your assignments to stand up, you’ll need to reference multiple sources. We understand that. That’s why, as well as access to research that you won’t find anywhere else, you’ll also get data from multiple credible sources.

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(Or, who is Mintel?)From Sir Francis Bacon to the Manic Street Preachers, the value of knowledge as a source of authority has been long documented and eloquently understood:

“Scientia potestas est” in the Latin of the 16th century philosopher and statesman; “Libraries gave us power” in the lyrics of Nicky Wire on A Design for Life.

But if knowledge is power, what is intelligence? It’s a question, and a distinction, that sits right at the heart of what Mintel is about – as a brand, as a business, as a creed.

To stick with the Bacon/Manics analogy, the knowledge-power equation is a great advert for market research: robust, reliable methodologies producing trusted, verifiable data that can tell you exactly what your target consumers are doing, thinking and where they are considering going next. Putting you one step ahead.

But what is power without direction?

How do you decide where best to apply it?

It’s intelligence that enables the power of knowledge to be applied effectively, in the right places, at the right time and for maximum impact.

That is what Mintel set out to achieve when the company was founded in 1972. It’s why we took our name from an amalgamation of the words ‘market’ and ‘intelligence’ and it’s a philosophy we’ve been preaching ever since.

Knowledge v intelligence, Bacon v Bananarama

But if knowledge is power, what is intelligence? It’s a question, and a distinction,

that sits right at the heart of what Mintel is about.

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The knowledge we gain through our primary and secondary research is the bedrock of this mix. It gives us a series of powerful data that we can assess incrementally over the long term to track trends and forecast the future.

This knowledge is brought to life and given insight and direction by successive layers of market analysis, as well as product and competitive intelligence.

• Market analysis sets consumer research in the broader context of category and territorial conditions, of values, sizes and forecasts.

• Product intelligence adds a bird’s-eye view of what’s happening on the ground, in terms of the launches, activations and innovations that are already winning and losing.

• Competitive intelligence feeds in what the major players are doing, what they are planning and what they are thinking about the future, to see how the application of power can find the ‘white space’.

Using trend analysts, category specialists, system developers, dedicated account teams and client servicing staff to pull these strands together gives us the collective intelligence to make the right recommendations for our clients’ businesses.

It’s easy to be powerful; but it’s better to be intelligent.

And with apologies to Francis Bacon, it’s possibly Bananarama and the Fun Boy Three who said it best: It ain’t what you do, it’s the way that you do it. That’s what gets results.

The market intelligence mixMarket intelligence is drawn not from a single source, but from a range of inputs that make up what Mintel has defined as the ‘market intelligence mix’.

It’s easy to be powerful; but it’s better to be intelligent.

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Top tips for job seekers

GIVE YOURSELF TIME, KNOW BEFORE YOU GOAhead of time, take some time to read up on both the company and the category that you are looking to work for and in. Mintel can help you do just that. It will give you the broader context of the market that business works in. It can tell you all about the competitive landscape and the customers they are looking to target.

SHOW YOU’RE INTERESTEDIt’s not enough to only be able to talk about yourself. There’s nothing that shows a potential employer you’re really interested in them more than being able to have a conversation about them.

By using Mintel you will be able to understand the key strategies of the most successful companies in a market. You’ll be able to understand the major issues and opportunities facing brands, making a conversation that much easier. Most people will have taken a cursory look at a company’s website, but few will have taken the time to really explore the market their potential employer operates in.

GET SOME QUESTIONS READYWhy ask boring, bland questions when you can ask incisive and insightful ones instead? If need be, write these down! By using Mintel you can very quickly spot the opportunities and issues facing the business or brand you’re looking to work for. It’s so much better to have an intelligent conversation about their business, their competitors and the potential opportunities awaiting them than simply asking run of the mill questions.

When it comes to getting a job it’s important that you do your homework.

Mintel is a great source of expert insight and analysis on consumers, companies, markets and products. It will give you the broader context of the market your potential employer operates in. It can tell you all about the competitive landscape and the customers they are looking to target.

We’ve put together some handy tips for how using Mintel will help you stand out from the crowd.

After all, understanding your potential future-employers competitive advantage could be your competitive advantage!

Understanding your potential future-employers competitive

advantage could be your competitive advantage!

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Other handy tips:

Do your research before you fill out an application – Many companies will conduct telephone screening calls on applicants, this is your chance to really stand out from the crowd.

Good timekeeping – Being late is guaranteed to annoy and alarm a hiring manager. Leave time in your journey for delays.

First impressions really do count – Make sure that your appearance is appropriate and you are dressed for the role you aspire to be in.

Understand the job description – Candidates that really shine are the ones who really understand the role, company and market.

Take notes – Candidates who clearly listen and take notes demonstrate skills highly valued in the workplace and are better prepared for follow-up interviews.

Close an interview professionally – Make sure you ask about the interview process and next steps.

Follow-up – Send a note to the individuals you interviewed with thanking them for their time and reinforcing your candidature for the role.

Integrity – Always answer questions truthfully, frankly and as concisely as possible. Remember that you want to make sure it is a fit as much as they do!

5 steps to perfecting a business planMarket Intelligence is a vital starting place for a successful business plan. Whether you are looking to source inspiration for a business idea or seek the facts and figures to back up your plan, Mintel is the perfect place to find the market intelligence you need.No business plan is the same. But there are some areas all business plans should cover. This 5 step guide will help you on your way to perfecting your business plan.

1. Consumer and Trend Analysis

2. Market Analysis

3. Competitor Analysis

4. Product Offering

5. Sales and Marketing

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Get started on your business plan today...

1. CONSUMER AND TREND ANALYSISWhat is your target market? What are their demographics? What drives their attitudes and purchasing behaviour? Why are you targeting this group? What do they specifically need that your product/service can provide?

Identify the group who have the highest demand for the benefit your product will provide using Mintel Reports’ extensive consumer data. Understand consumer usage and attitudes towards the type of product/service you will be offering. Uncover consumer trends which shed light on consumer priorities and opportunities for your business in the future.

2. MARKET ANALYSIS It is essential to show an understanding of the market your business will be operating in. What is the size of the market? Is the market increasing or decreasing in size and why?

Find market size data and forecasts for the next five years from our expert analysts in Mintel Reports. Discover trends expected to influence the market in the coming years and spot areas of opportunity and growth.

3. COMPETITOR ANALYSISWhat are your competitors offering? What are their strengths and weaknesses? How do you plan to defend against their strengths and take advantage of their weaknesses?

Mintel Reports explore consumer attitudes towards brands and examine the reasons behind them. This information will be invaluable when developing a SWOT analysis which you can use to identify the strengths and weaknesses of your competitors alongside the opportunities and threats they pose to your business.

4. PRODUCT OFFERINGWhat benefit will your product/service provide to customers? What will your product packaging look like? What price point will you sell your product at?

Mintel Reports’ consumer data will provide you with a strong understanding of what consumers really want. This information is vital in establishing your USP (Unique Selling Point). It is important to make sure the price you charge is in line with the perceived value of the product/service to the consumer.

5. SALES AND MARKETING How will you position your product/service to make it stand out from the competition? What are the most appropriate media channels to reach your target audience? What type of marketing message will resonate? Do you need to adjust your campaign planning regionally?

When developing your sales and marketing plan a good way to structure your plan is to follow the 4 P’s model i.e. product, price, place and promotion. You can use Mintel Reports to find the facts and figures you need to build your plan around this model. Find the trends and observations that support the claims you are looking to substantiate. Also get inspiration and create stories to aid in pitches and retail sales.

5 steps to perfecting a business plan

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LEARN Trusted by leading global corporations, customised for education. Mintel’s market intelligence is strong, comprehensive and easy to access. You will benefit from the same top-notch data, expert analysis and informed recommendations used by today’s top businesses.

GROW What you need to succeed. Mintel helps you expand your horizons and think across categories. We provide the data, the analysis and the implications, so you can expand your knowledge and learn to connect the dots.

INSPIRE Great ideas come from great stimuli. Mintel’s research sparks creative thinking and problem solving. We open doors and ask questions, challenging you to respond with new ideas and better answers. Getting you ready for today’s competitive business environment.

Mintel Academic Data students need. Ideas that will set you apart.

WITH MINTEL ACADEMIC YOU WILL BE ABLE TO:

• Monitor and compare international market developments across multiple sectors.

• Search and analyse new product launch and ingredient trends in consumer packaged goods.

• Understand consumer attitudes and behaviour and the implications for business.

• Cite market data in research papers and business plans.

• Shape informed opinions and ideas, supporting study plans.

To access: Go to academic.mintel.com, if you don’t login automatically ask your library for login details.

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