exam1review - Marketing Intelligence Review 1st Test I....

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Marketing Intelligence Review 1 st Test I. Laying the Foundation 1.Marketing Intelligence = A systematic and ethical program for gathering, analyzing, and managing internal and external information that can affect your company plans, decisions, and operations. *The competitive environment is constantly sending signals about: - Changes - Trends - Threats and Weaknesses 2. What Marketing Intelligence can do for Companies? - Anticipate Changes in the Market Place Ex. Ford - Anticipate Actions of Competitors - Discovery New or Potential Competitors - Learn from Successes and Failures of Others - Learn about new technologies, procedures, and processes that affect your business - Learn about political, legislative, or regulatory changes that affect your business - Enter new business 4. Skills Required by the Intelligence Process - Interviewing Skills (Primary research) - Information Retrieval Skills (Secondary research) - Analytical Skills Financial Analysis, Statistical Analysis, Benchmarking, and SWOT Analysis 5. Sources of Information for Marketing Intelligence: - Written Documents (Published materials) Newspapers Financial information and Broker Reports
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- Human Documents (Watch Public Fillings) Zoning Bldg. Permits Litigation Materials at Trade Shows, exhibits, etc. . Attend open houses or tour visits Mystery Shopping for Competitors 6. Jigsaw Puzzle M.I is all about taking pieces of information that are not related and making something with that information. -Intelligence Gathering and fitting it together is all part of the Jigsaw Puzzle! 7. How does the Marketing Intelligence Travels in the Real World? A. Action = Ex, Purchase property to built a new plant. B. Actors = Company Management, Seller, Lawyers, Industrial Realtors, Notary Public C. Public Source = Ex. Filling with town assessor expansion plans. D. Intelligence Revealed = Ex. Details of Capacity, Extension Plans, etc… II. Legal Implications of Marketing Intelligence 8. Legal /Ethical or Illegal/Unethical? Ask a new employee for details of his former employer’s customers = ILLEGAL Pretend to be a student researching a thesis in order to obtain information about a rival= UNETHICAL possibly Illegal Treat a customer to an expensive lunch in an attempt to learn about his business with his rival = GOOD! Send private detectives to hunt through trashcans on a competitor’s premises = UNETHICAL but legal Bug the private telephone line of one of your employees suspected of providing information to a rival = ILLEGAL AND UNETHICAL
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Advertise an imaginary senior job for information about their current employees during interviews = UNETHICAL Overhear a conversation on the train between employees of a rival company and use the information too take counter action about their plans = Legal But Unethical Pay a private detective to become an employee of a rival in order to feed back information = ILLEGAL AND UNETHICAL Conduct a market survey to find out what customers think about rivals = Legal
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exam1review - Marketing Intelligence Review 1st Test I....

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