Market Intelligence is about providing a company with a view of a market using existing sources of information to understand what is happening in a market place, what the issues are and what the likely market potential is.
Market Intelligence can be divided into two spheres, namely market intelligence based on external data and market intelligence based on internal data. External data is data gathered through desk research while internal data is taking market intelligence information from existing data.
The more relevant, useful business intelligence you have of your customers, partners, and operations, the more your company can make better decisions and increase competitive advantage. Flatworld Solutions offers a number of real time market intelligence services that can help your organization make informed marketing decisions.
Flatworld's Market Intelligence Services
1. Competitive Intelligence Marketing
A specific form of market Intelligence is competitive intelligence. It is the core of competitive strategies. This is typically undertaken on an on-going basis and involves the collection of news, materials and other information about competitors from a wide variety of sources.
There are five steps in competitive intelligence.
Planning and direction
Collection and research
Processing and storage
Analysis and production
Dissemination and delivery
2. Market Intelligence Research
Market research is a form of applied sociology that concentrates on understanding the behaviors and preferences of consumers in a market-based economy, and aims to understand the effects and comparative success of marketing campaigns.
Market research asks questions about competitors, market structure, government regulations, economic trends, technological advances, and numerous other factors that make up the business environment.
Marketing research techniques come in many forms, including:
Brand equity research
Brand name testing
Commercial eye tracking
Buyer decision process
Customer satisfaction studies
3. Online Marketing Intelligence
Online marketing is the marketing of products or services over the Internet. When it applies to the subset of website based ad placements it is commonly referred to as web advertising or web marketing.
Internet marketing ties together creative and technical aspects of the internet, including design, development, advertising and sales. Internet marketing methods and strategies encompass a wide range of services such as search engine marketing which can be broken down into: