A Simple Guide to Effective Market Sensing,  Learning and Intuition

Market Learning

If a marketer wants to employ strategic marketing, they have to start by learning about the ways their potential customers are changing their preferences and attitudes. For that reason, companies hire market research agencies. Those agencies conduct surveys and provide research reports in attempts to answer any burning questions firms might have.

To put it in another way, companies are basically trying to understand how the market works. And the way they are going about it is by conducting a variety of surveys asking the customers what they would buy.  Of course, that is not all that market learning involves. It also involves direct customer interactions in order to understand the way consumers think. In fact, market learning is expanding and trying to include every method of getting insights into the minds of consumers. But the most important question for a lot of companies is: “Why do you pick certain brands over others?”

Once companies get the feedback they want, they can start creating effective market strategies.

Market Sensing

Market sensing is another level up from market learning. With market learning, companies are trying to get an insight and understand what consumers want. On the other hand, they are using market sensing to gain an understanding of how the market will move.

Expert marketers gather the data from market learning and put it together for analysis. They use their experience to sense the movement of the market.

Market Intuition

Market intuition is the third, and the final aspect of creating an effective strategic marketing campaign. The first aspect was learning about the preferences of the consumers through simple observation. The second aspect included using experience and wisdom to sense the movement of the market. And finally, the third aspect takes the entire concept of market sensing to the next level.

It takes the basic concept of market sensing and adapts it further. Namely, market intuition is all about understanding the “soul” of the market. In essence, expert marketers use their complete understanding of the basic levels of the market and their own intuition and knowledge to predict the future of the market.

While this approach might sound incredible and even impossible, there are numerous examples of successful intuitive marketers. Take for example the late Steve Jobs who was the legend of marketing. He had the advantage of the best possible pieces of analytic software. However, instead of purely relying on the data he could get from that software, he would commonly go with his “gut feeling” when it came to predicting the reactions of his customers to the evolution of his brand.

Naturally, we can’t say that market intuiting can accurately predict the future. However, it can arm companies with the ability to prepare for the likely outcomes preemptively.

After all, while the data analysis and experience can get you far, the most effective strategies still rely on the deep understanding of other humans that many marketing experts have. Understanding the essence of the consumer base is the way to predict the future.

In the End

Measuring data is an effective way to create a strategy. However, the business landscape of this century is changing at an incredible rate. Unfortunately, that means that yesterday’s data might be outdated by the end of the day. The only way to stay ahead of the game is to understand how the market works on a basic level. Only by combining hard data with the wisdom of experts can companies guarantee commercial success.

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