Competitive Intelligence

Marketing Intelligence

Marketing intelligence is “the process of acquiring and analyzing information in order to understand the market (both existing and potential customers); to determine the current and future needs and preferences, attitudes and behavior of the market; and to assess changes in the business environment that may affect the size and nature of the market in the future.” – Product, 1997.  Gathering marketing intelligence really can help your business to survive.  These days businesses often use software as a method of gathering marketing intelligence.

One of the main uses of marketing intelligence is to identify which new products which will be successful early in their development, to enable the company to grow and maximize profits, finding a good balance between the cost of the new product and the end product selling price. If they know this they can not only be successful themselves, but also stay one step ahead of the competition.