Marketing intelligence system is a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the marketing environment. It provides information about everyday happenings in the marketing environment. The system is primarily concerned with obtaining information about competitors, their trends and strategies, as well as their future plans. This information can be obtained from within competing organizations.
Marketing Intelligence systems are designed to be used by marketing managers and often viewed by employees throughout an organization. They may have user interfaces that closer resemble consumer software than the software around individual data sources, which are designed for use by analysts.
There are three main benefits that the organizations will get by systematically organizing marketing intelligence activities, which are better and faster decisions, time and cost savings, and organizational learning and new ideas.
Marketing intelligence can be used to:
-Enter a new market, or expand presence in an existing market
-Develop new products, or adapt products to customer preference
-Tailor marketing effort to customer preference
-Establish and maintain a distinctive brand identity
-Reduce the risk of an investment decision
Marketing intelligence system
