Marketing Resource Management (MRM) Market: Overview 

Marketing resource management (MRM) is gaining popularity in different industry verticals to foster their marketing activities and thus increasing business revenues. The growth in marketing activities is driven by the highly competitive environments that the companies today operate in, encouraging brands to promote and market their products in an efficient way to compete better.

Marketing departments often encounter challenges in managing their tangible and intangible resources on a large scale in an efficient way. MRM helps marketing organizations or marketing departments in an organization to plan marketing activities, asset management and gain visibility of their marketing performance.

The increase in the number of marketing channels, has created a need to manage complex marketing activities to promote the brand and products in an optimal way. MRM software offers real time updates about the marketing activities and also secures real time access to organizational data with digital accounts. The organizations can adopt on-premise or cloud deployment of MRM solutions depending on their needs and infrastructure. MRM is largely adopted by large scale enterprises, considering higher budgets dedicated to marketing activities as compared to small and medium enterprises (SMEs). However, in recent years SMEs have shown keen interest toward MRM solutions in order to gain maximum returns from their marketing practices. 

Marketing Resource Management (MRM) Market: Drivers

MRM market has witnessed significant growth in recent years, which is attributed to the need for analyzing market trends and accordingly plan and devise marketing strategies. The advancements in technology and up-gradation of MRM software tools have further added to the increase in adoption of MRM by different organizations. The intense competition within different industry verticals, has led to cost-cutting in marketing budgets. This has in turn forced the organizations to consider MRM solutions, to improve spending on marketing activities and improve return on investment (ROI).

Adoption of cloud-based MRM services is another major factor that is driving the MRM market, as cloud-based services have helped in further reducing the overall cost of marketing. Cloud-based third party MRM services also enable the organizations to focus on their core activities.  MRM implementation in SMEs is still not widespread due to the lack of IT support or concerns regarding high initial investment. Low cost or pay-per-use cloud-based services are expected to provide the necessary impetus to the adoption of MRM in SMEs.

Marketing Resource Management (MRM) Market: Competitive Dynamics

Vendors of MRM offer different solutions depending upon application. The applications include financial management, project management, creative production management, reporting and analysis, market asset management, and brand and advertising management.  Further, MRM finds application in different industry sectors such as banking, financial services and insurance (BFSI), retail, media and entertainment, IT and telecom, manufacturing, and healthcare.

Some of the key players in operating in MRM market include Adobe Systems, Inc., Oracle Corporation, SAS Institute, Inc., Teradata Corporation, Microsoft Corporation, IBM Corporation, Bynder, SAP SE, BrandMaker GmbH, Saepio, Workfront, Inc., and North Plains Systems Corporation.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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