Market intelligence is the information relevant to a company’s markets, gathered and analysed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy, and market development. Market intelligence is intended for establishing, conducting and further developing corporate intelligence programs within an organization and then shows how organizations can turn market data into actionable insights. It covers how businesses use current sources of information to comprehend what is happening in their markets, what problems exist and where the opportunities exist. It centers mainly on clients, rival companies, market trends, customer spending and suppliers. Marketing Research, however, is one of the four cornerstones of Market Intelligence, the other three being Product Intelligence, Competitive Intelligence, and Market Analysis.
It also gives early warning of competitors’ moves, enabling companies to put counter moves in place. Other possible applications for Market Intelligence include finding new suppliers, managing risk improving knowledge of existing suppliers’ capabilities and learning of countries where good suppliers are located. This book gives an overview on typical marketing function such as performing market research, producing a marketing plan, and product development, as well as strategically overseeing advertising, promotion, distribution for sale, customer service and public relations. This book introduces learners to marketing strategies and tools that are used extensively in the marketing industry. This focused book concentrates on giving readers a clear understanding of marketing fundamentals while providing a broad survey of all the major topics of the field. The book is written in a clear, friendly style that progresses step-by-step through all of the major topics. For all those who are interested in market intelligence, this book can prove to be an essential guide.
Mickie Blackmon did his Ph.D. in Marketing Management from University at Rostock. He is a distinguished professor of higher education and serves as guest faculty for several universities across Europe. His primary areas of scholarly and research interests lie in the fields of marketing research, marketing communication and customer relationship management. Blackmon is an active member of several scientific and technical societies, where he continues to share his expertise and knowledge in the field of marketing. He has been presented the "Distinguished Faculty Learner" for his outstanding service.
