lecture1 - Laying the Foundation Marketing Intelligence We...

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Unformatted text preview: Laying the Foundation Marketing Intelligence We are often unprepared to handle the most crucial of managerial responsibilities: Around the year 500 BC, the great Chinese military strategist, Sun Tzu wrote a treatise on the Art of War. This work is still relevant today with advice to both military commanders and businesses on winning against competitors: If you are ignorant of both your enemy and yourself, then you are a fool and certain to be defeated in every battle. If you know yourself, but not your enemy, for every battle won, you will suffer a loss. If you know your enemy and yourself, you will win every battle. Increasing Need for M.I. The GE Way x “An organizations ability to learn and rapidly turn that into action is the key to competitive advantage” – Jack Welch – Former GE CEO What is Marketing Intelligence? Marketing intelligence is: The Competitive Environment Sends Messages all the Time: xSends signals about: xTapping xEarly on these signals are: them and then learning from them requires an art that requires open eyes, ears and minds. What Marketing Intelligence Can Do for Companies x Anticipate Changes in the Market Place (75%) Ford’s Edsel (1957) Ford Mustang (1964 1/2) 1973 Cost of Gasoline What Marketing Intelligence Can Do for Companies x Anticipate Actions of Competitors (68%) What Marketing Intelligence Can Do for Companies x Discover New or Potential Competitors (68%) China Info What Marketing Intelligence Can Do for Companies x Learn from Success and Failures of Others (65%) Wal-Mart What Marketing Intelligence Can Do for Companies x Learn About Technologies, Procedures and Processes that can Affect Your Company (50%) Public Records New Pharmacy IdeaResearch Product at FDA What Can Marketing Intelligence Do for Companies x Learn About Political, Legislative, or Regulatory Changes that can Affect Your Company (75%) What Can Marketing Intelligence Do for Companies x Help Enter a New Business (67%) The Intelligence Process Requires Three Kinds of Skills Information for Marketing Intelligence are: Published materials: Watch public filings: Information: Available but Improperly Employed Intelligence Gathering: The Jigsaw Puzzle The Jigsaw Puzzle: Fitting Together Random pieces of information How Intelligence Travels in the Real World Action Actors Public Source Intelligence Revealed Are There Truly Any Business Secrets? Conclusion ...
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