What is meant by market intelligence?
Marketing intelligence is everyday data that is relevant to the marketing efforts of an organization. Once collected, this data can be analyzed and used to make informed decisions regarding competitor behaviors, products, consumer trends, and market opportunities.
What is market intelligence example?
For example, A mobile company wants to understand the competitor's position in the market to launch its own product in the same segment. A competitor analysis survey can be conducted to understand the competitor's position in the market, their product features, and their market share.
What are the 3 types of market intelligence?
The four cornerstones of Market Intelligence are Competitor Intelligence, Product Intelligence, Market Understanding, and Customer Understanding.
Why is market intelligence important?
Importance of Market Intelligence\n\n Market intelligence enables you to become more customer-centric, gain a better understanding of market demands and consumer views, gather real-time relevant data, increase upselling chances, minimize risks, increase market share, and gain a competitive edge.