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MKT 421 Week 2 DQ 2 - What is competitive intelligence What...

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What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? What is competitive intelligence? Gathering intelligence is a tactic used by many companies in their efforts to better a product or service. Specifically, competitive intelligence is the gathering of information against or from competitors. “Firms use competitive intelligence to gain early warnings of competitor moves and strategies, new-product launches, new or changing markets, and potential competitive strengths and weaknesses.” (Kerin, Hartley, Berowitz & Rudelis, 2009, p. 100). What is the importance of competitive intelligence and analysis in modern-day marketing? Competitive intelligence and analysis in modern-day marketing is very important. In order to excel and stand out from the crowd, a company must gain insight (intelligence) to better their
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