Purchasing decisions are based on derived demand and future demand. An internal search may be the sole research source for inexpensive purchases.The goal of marketing is to translate attributes of products and services into benefits.It is not enough to draw in consumers for a single purchase, the goal is repeat business.The second stage in the Consumer Behavior Model after Needs Assessment is evaluation of alternatives. Competitor information relates to developing understanding of the strategies, product portfolio, and if possible, future product plans of the various competitors in the marketplace.Market information represents a holistic view of the marketplace, including the current market size, the various market segments, trends in market share, as well as forecast growth of the market and each of the identified market segments.product information is all about understanding competing products in the marketplace, how they are priced, and what tactical marketing activities are being used to sell these products (e.g., what promotions are being used, is there advertising, and so on).Market intelligence can be defined as:The process of acquiring and analyzing information in order to understand the market (both existing and potential Customers); to determine the current and future needs and preferences, attitudes and behavior of the market; and to assess changes in the business environment that may affect the size and nature of the market in the future. (Market Intelligence, n.d.)The first stage in the Consumer Behavior Model after Needs Assessment is search for al
Marketing intelligence can be defined as the procedures and data sources used to obtain information from the business environment for decision making. Sales force intelligence, networking externally, and sharing information with channel partners are all components of a Marketing Intelligence System. Marketing intelligence is based on four pillars. One of the pillars is - product information - competitor information- market information- customer information a corporation should set up a marketing intelligence system to track trends and important developments and any related opportunities and threats.Forecasting and Demand Measurement Forecasting is the prediction of demand or sales for upcoming periods. Forecasting is the basis for decisions within production, finance and accounting, human resources, and sales and marketing.