Reading20 - An Overview of Marketing Intelligence Marketing...

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An Overview of Marketing Intelligence Marketing intelligence has undergone a groundswell of interest in recent years, an interest in part fueled by an increasing availability of information itself (the much-touted information explosion) and an increase reflected in the proliferation of commercial databases worldwide. What else is driving this growth? In purely competitive terms, no time before ours has presented so many opportunities or dangers. The recent changes in Eastern Bloc nations and the dawning of a unified Europe call for American corporations that can compete that operate at the edge of their knowledge and capabilities. European and Japanese companies have grown to hold a dominant position in U.S. patents over the past twenty years. Japanese firms are using our universities as a competitive tool by funding programs and research. In 1989 West Germany's world exports exceeded ours, as well as those of other developed nations. Even with its inevitable social and economic dislocations, a united Germany will be force to be reckoned with. Given this changing scene, marketing intelligence is an activity of increasing importance. Whether the need is for knowledge of an industry, a market, a product or a competitor, reliable global information is central to our national success. As Frederick the Great said, "It is pardonable to be defeated, but never to be surprised. With today's information resources, and a MI (Marketing Intelligence) program that reflects the needs of the corporation, surprises can be minimized. But this is a article about the process and resources of marketing intelligence, not about the electronic transformation of information itself. It may well be that the electronic manipulation and storage of information will have the effect on our times that the invention of the movable-type printing press exerted on fifteenth-century Europe. For the first time in history, books and the literate population needed to read them came together. In much the same way, access to an increasing world of information empowers the modern corporation to understand itself and its markets more completely than ever before.
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Marketing intelligence Definitions We like to think of marketing intelligence as the selection, collection, interpretation and distribution of publicly held information that has strategic importance. Needless to say, there are other definitions of marketing intelligence. Here is a sampling. Business intelligence [an alternate term for marketing intelligence] is the activity of monitoring the environment external to the firm for information that is relevant for the decision-making process of the company. [2] Competitor intelligence is the analytical process that transforms disaggregated competitor intelligence into relevant, accurate and usable strategic knowledge about competitors, position, performance, capabilities and intentions. [3] Marketing intelligence is a way of thinking. [4] MI uses public sources to locate and develop information
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This note was uploaded on 10/06/2008 for the course MAR 3641 taught by Professor Rubin during the Spring '08 term at University of Central Florida.

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Reading20 - An Overview of Marketing Intelligence Marketing...

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