Collecting information and forecasting demand - Marketing intelligence

4 important questions on Collecting information and forecasting demand - Marketing intelligence

What is a marketing intelligence system?

A set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment.

Internal records supplies results data, but marketing intelligence system supplies happenings data.

What 8 possible actions are there to gather marketing intelligence?

  1. Train and motivate the sales force to report new developments
  2. Motivate distributors, retailers and other intermediaries to pass along important intelligence
  3. Hire external experts to collect intelligence
  4. Network internally and externally
  5. Set up a customer advisory panel
  6. Take advantage of government-related data
  7. Purchase information from outside research firms and vendors
  8. Collect marketing intelligence on the internet

In what 5 ways can marketers research competitors' product strengths and weaknesses online?

  1. Independent customer goods and service review forums
  2. Distributor or sales agent feedback sites
  3. Combo sites offering customer reviews and expert opinions
  4. Customer complaint sites
  5. Public blogs
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When does the competitive intelligence function work best?

When it is closely coordinated with the decision makers.

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