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This industry analysis was carried out for Meeting Design Institute (MDI), an organization devoted to meeting design. MDI provides new avenues to develop and promote such products and services, while learning more about the market. The main objective of the research was to explore the meeting design industry and analyse its operational environment from the supplier's position. This thesis was about understanding through measuring. Hence, data was collected from a significant number of samples N=104, by using the quantitative research method with an online survey. The survey respondents were recruited from LinkedIn social network. The author conducted a survey research among meeting design suppliers from EU and North America. The theoretical framework of the study was based on both published and electronic sources regarding B2B industries, Porter's industry analysis, meeting design phenomena and the meetings industry. The research shows that the meeting design industry is an emerging industry in its growth stage. Nonetheless, the rivalry in the meeting design industry meeting is high and the industry members face difficulties typical for its stage obstacles; such as customer’s confusion and uncertainty, high marketing costs, threat of new entrants, insufficient researches/statistics and other data available, early and late markets and changing role of suppliers and industry members. Nonetheless, the results from the research showed that meeting design suppliers are more less satisfied with their position and see the market as growing.
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1 Industry AnalysisFor Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied
Sciences Finland
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About the survey An online survey among Meeting Design
Suppliers from Europe and North America The suppliers were categorized using
CHATTY Toolbox The idea for the thesis came during my
internship at Meeting Design Institute Conducted in March - April 2014 The obtained sample of N= 104 Respondents were recruited from the
LinkedIn For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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The main research questions: Does Meeting Design Industry exist? If yes, what is the current state of the
Meeting Design Industry? Are suppliers satisfied with their position
in the Meetings Industry? How do they consider the role and the
value of the Meeting Design Industry? How intense is the rivalry in the meeting
design marketplace?For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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About the respondents: 44 % of the examined suppliers focus
on a single tool/service for meeting design
36 % of respondents were non-members of any industry organization
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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12%
24%
15%18%
8%
23% € 0 - 49.000
€50.000-249.00
€250.00-999.000
€1 million - 5 million
over €5 million
Would rather not say
Revenue in euro
29%
36%
8%
9%
17%
CEO
Owner/Co-founder
Managing Director
Marketing Director/Manager
Other
Position in the company
The respondents
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For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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The role and the value of the Meeting Design Industry
95 % said they belong to The Meetings Industry
77 % said they belong also to The Meeting Design Industry
75 % said meeting design and its suppliers have a tangible impact on the meetings industry
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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The Meeting Design Industry is…
Is an Emerging Industry
Is a Growth Industry
Is a Mature Indutsry
Doesn't exist
I don't know
51%
26%
9%
2%
12%
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Meeting Design term…82 % have heard the Meeting Design
term before Over 36 % defined the meeting design
term as planning based on objectives, outcomes, goals, and needs of the meetings
18 % described meeting design as a process of planning
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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Rivalry in the Meeting Design marketplace: Over 80% say new competitors have recently
entered the market 46 % know about competitors who have
recently gone out of the market80 % are targeting conferences and corporate
meetings
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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Rivalry in the market:
20 % have over 50 direct competitors 45 % say “it is difficult to enter the
market”, 32 % say “it’s easy”55,6 % experience growth of the market38.4 % feel market as stable and only
6.1 % said, "It is shrinking.” 55 % are satisfied with the market size12 % - dissatisfied
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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Number of direct competitors:
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Attitude questions:
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Over 60 % think meeting planners have been slow to embrace tools for Meeting Design
75 % say MD suppliers have tangible impact on the meetings industry
Over 40 % say md planners are not well aware of tools for meeting design
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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Satisfaction of the meeting design suppliers:
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Conclusions The Meeting Design Industry is an emerging industry in
its growing stage The suppliers are rather satisfied with the market size
and moreover see the market as growing. Complex b2b transaction model: switching roles of
suppliers and buyers Suppliers are less satisfied with buyers product/service
knowledge and available research and statistics The Market is ”hot” but slowly embracing new tools (B2B
markets) Partly consist of old and of new companies- Reforming Fragmented, small business owned industry Lack of standardisation
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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Ideas for further researches
MSI could rise its profile and overall industry performance by conducting business researches on Meeting Design Industry
Suppliers need to be analysed separately according to categories
Market researches among meeting design planners: needs, threats expectations from products etc.
Continue to promote meeting design category jointly at tradeshows and events
On-going Meeting Design Industry research on trends, market, rivalry etc.
For Meeting Design Institute by Sofia Nikolaeva, Lahti University of Applied Sciences Finland
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CreditsThis research could have not been possible without the help of an amazing team of people. I would like to thank all those who participated in my survey including technology providers, speakers, MDI members, meetings industry experts and especially:
Maarten Vanneste of Meeting Design Institute – for inspiring me to the research and helping in research questions’ formulization Mika Kylänen of Lahti University of Applied Sciences- for mentoring me along the entire research process Steve Bather of Meeting Sphere Inc. - for reviewing early drafts of the survey and sharing his knowledge on questionnaire design Thorben Grosser of EventMobi – for helping with the survey design and outlining lapsesDominika Fudala of Meeting Design Institute- for advising me on the research and the survey formDerrick Stomp of Twoppy- providing his feedback on the survey form and the overall impression from the researchMartijn Timmermans of Redline Project- providing his feedback on the survey form and the researchZaid Derbi of Debitours for participating in a pilot survey and testing the questionnaire
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Thank You!If you want to read the full thesis or if you have any questions or comments
don’t hesitate to contact [email protected]
