What Are The Source Of Marketing Intelligence?

What is the meaning of marketing intelligence?

Marketing intelligence (MI) is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics..

What is the best stock market website?

Here are some of the most indispensable stock market websites that are sure to provide you with reliable and factual data.The Motley Fool. … 2. Yahoo! … MetaStock. … Morningstar. … Bloomberg.com. … Alpha Vantage. … The Wall Street Journal. … Seeking Alpha.

How do you increase market intelligence?

Here are some ways that you can use to gather market intelligence:Get in touch with your sales team: Ask for information from your sales force. … Question your channel partners: Get feedback from your channel partners when it comes to product expansion or the sale of a new product.More items…•

What is the importance of marketing research?

Market research is a vital element when developing your marketing strategy. When done correctly it can help to enlighten your marketing activities – such as understanding the requirements of your target audience, helping to understand what key messages you should convey and how to convey them.

What are competitive intelligence tools?

The 8 Best Free Competitive Intelligence Tools in 2020 are:Crunchbase.Owler.Talkwalker.Visualping.SimilarWeb.SpyFu.MOAT.Google Alerts.

What are some of the best sources of market intelligence?

If you’re responsible for driving the strategy of your organization, here are the top external sources of competitive intelligence that should be on your radar.Competitor websites. … Annual reports. … Premium databases. … Syndicated reports/ analyst reports. … Primary research. … Social media. … Patent databases.

What is the importance of marketing intelligence?

Benefits of Market Intelligence Helps you understand your audience in detail and their needs. Allows you to make changes to products if needed. Keeps you up-to-date with your competitors’ successes and failures, which can help inform your decisions. Reveals new opportunities in the market—new segments or new products.

What is an example of everyday information used in marketing intelligence?

For example, a marketing manager may have detailed information about key customers, including their average age, income, education and what they typically spend per visit. This allows companies to create profiles of typical customers, characteristics they use to target other noncustomer consumers.

What is meant by marketing strategy?

A marketing strategy refers to a business’s overall game plan for reaching prospective consumers and turning them into customers of the products or services the business provides.

What is the difference between marketing intelligence and marketing research?

Market Research. The main difference between market intelligence and market research is the goal. Market intelligence is company-focused, while market research is done to learn more about customer preferences. Both are used to help businesses understand and develop marketing strategies.

How does market intelligence affect customers?

Using market intelligence by collecting and analyzing data about the markets in which they are situated, companies gain valuable insight into how to grow their business. … “It also includes checking for customer comments and feedback online that will help the business improve its offer or service.”

How do you use market intelligence?

What is Market Intelligence?Know how the product/service is seen by customers and the market;Assess whether the price charged is consistent with the market;Identify product differentiators;Figure out how consumers perceive the brand;Have in depth knowledge of current and potential customers;More items…