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By veeresh

Contents:

Introduction Meaning Components & Key elements Purposes Scope Sources & analysis Benefits conclusion

Successful business planning and development requires a good understanding of market

potential, and of your capabilities against those


of your competitors

A Marketing Intelligence System (MkIS) is one


that systematically gathers and processes critical business information, transforming it into actionable management intelligence for marketing decisions.

Customer Intelligence: This provides useful information on a customers business, preferences or loyalties, personal demographic details. Competition Intelligence: This gives information on strengths and weaknesses of each competitor in the territory, the strategy and the tactics being used by them.

Information Information Management Processes Intelligence Development Processes Computer Systems An Organizational Focus

Customer satisfaction Creative and effective marketing strategy Realities of the company and its competitors
Strengths and weaknesses

Realities of the marketplace


Opportunities and threats

Competitive advantage Anticipate the competitive move and develop competitive strategies

External environment BPEST Analysis


Business (industry) Political and legal environment Economic and demographic environment Social and cultural environment Technology and natural environment

Companys own personnel Companys supply chain Competitors Government sources Academic sources Publications and mass media Syndicated services

Competitor analysis -- knowing about competitors

1. Who are our competitors?

2. What are their strategies?

3. What are their objectives?

4. What are their strengths and weaknesses?

5. What are their reaction patterns?

Competitor analysis -- levels of competition


Brand Competition Other companies offering a similar product and services to the same customer at similar prices All companies making the same product or class of products All companies manufacturing products that supply the same service All companies competing for the same consumer dollars

Industry Competition

Form Competition

Generic Competition

Market and customer orientation Identification of new opportunities Early warning of competitor moves Minimizing investment risk Better customer interaction Better market selection & positioning Quicker, more efficient and cost-effective information

Thus

marketing intelligence system entirely relies on internal company records, marketing intelligence activities and marketing research.

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