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A set of procedures and sources used bymanagers to obtain everyday information about developments in the mareting environment.
Marketing managers collect marketing intelligence by reading books, newspapers, and trade publications; talking to customers, suppliers, and distributors; monitoring "Social Media" on the internet via online discussion groups; e-mailing lists and blogs and meeting with other company managers.
Several steps to improve the quality of marketing intelligence:
1. Train and motivate the sales force to spot and report new developments
2. Motivate distributors, retailors, and other intermediates
3. External networking
4. Set up a company advisory panel
5. Take advantage of government data resources
6. Purchase information from outside suppliers
7. Use online customer feedback systems to collect competitive intelligence
Leonora Pfannerstill
Mohamed Gamal
Wiki User
∙ 14y agoA set of procedures and sources used bymanagers to obtain everyday information about developments in the mareting environment.
Marketing managers collect marketing intelligence by reading books, newspapers, and trade publications; talking to customers, suppliers, and distributors; monitoring "Social Media" on the internet via online discussion groups; e-mailing lists and blogs and meeting with other company managers.
Several steps to improve the quality of marketing intelligence:
1. Train and motivate the sales force to spot and report new developments
2. Motivate distributors, retailors, and other intermediates
3. External networking
4. Set up a company advisory panel
5. Take advantage of government data resources
6. Purchase information from outside suppliers
7. Use online customer feedback systems to collect competitive intelligence
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After doing BCA in MBA which specialization will be best marketing as major and finance as minor or marketing and system?
Marketing and System &Hr and marketing
Subjects offered in BBM?
Human Resource Management, Finance, Management Information System, Marketing
What does the line the monsters thoughts were as quick as his greed or his claws mean?
He has intelligence.
What is Defense Intelligence Agency's motto?
Defense Intelligence Agency's motto is 'Committed to Excellence in Defense of the Nation'.
What intelligence tests are used to test intellectual functioning in children?
Such tests include the Stanford-Binet Intelligence Scale, the Wechsler Intelligence Scales, the Wechsler Preschool and Primary Scale of Intelligence, and the Kaufman Assessment Battery for Children
What is the difference between marketing information system and marketing intelligence system?
marketing information is looking for more resources and intelligence is the know how
What are the component of marketing information system?
according to other sources available on the net and in books, they are Internal reporting systems, Marketing research systems,Marketing intelligence systems, and Marketing models.
What are the components of MIS?
Components of MIS:- 1) Marketing Research System (MRS) 2) Marketing Intelligence System (MIS) 3) Internal Recoed System (IRS) 4) Dission Support System (DSS)
Components of marketing information systems?
A marketing information system has four components: the internal reporting system, the marketing research systems, the marketing intelligence system and marketing models. Internal reports include orders received, inventory records and sales invoices. Marketing research takes the form of purposeful studies either ad hoc or continuous. By contrast, marketing intelligence is less specific in its purposes, is chiefly carried out in an informal manner and by managers themselves rather than by professional marketing researchers.
What are the basic components of Marketing information system?
according to other sources available on the net and in books, they are Internal reporting systems, Marketing research systems,Marketing intelligence systems, and Marketing models.
What are the differences between marketing intelligence and marketing information?
If your a entreprener.......your really lame. You shouldn't start a buisness if you don't know. anyway...... the difference is that marketing intelligence and marketing information arent the same. intelligence= knowing information=discover or you already know. im bored trust me i have a buisness take my advice seriously@!
Relationship between marketing and marketing communication?
There is absolutely no relationship between marketing and marketing communication, however the relationship between marketing and marketing communication is far stronger than the relationship between marketing and marketing intelligence!!!!
What are the four areas of global strategic marketing planning include?
marketing market intelligence advocacy planning
What is the most essential part of an information system?
Components of MIS:- 1) Marketing Research System (MRS) 2) Marketing Intelligence System (MIS) 3) Internal Recoed System (IRS) 4) Dission Support System (DSS
What are the components of a modern marketing information system?
A marketing information system (MKIS) is defined a set of procedures and methods designed to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis. An information system can be used operationally, managerially, and strategically for several aspects of marketing.A Marketing Information System can also be defined as 'a system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis'A marketing information system can be used operationally, managerially, and strategically for several aspects of marketing.As we all know that no marketing activity can be carried out in isolation, know when we say it doesn't work in isolation that means there are various forces could be external or internal, controllable or uncontrollable which are working on it. Thus to know which forces are acting on it and its impact the marketer needs to gathering the data through its own resources which in terms of marketing we can say he is trying to gather the market information or form a marketing information system. This collection of information is a continuous process that gathers data from a variety of sources synthesizes it and sends it to those responsible for meeting the market places needs. The effectiveness of marketing decision is proved if it has a strong information system offering the firm a Competitive advantage.Locating data and developing informationThe information needed by marketing managers comes from various sources which includes: - internal company records, marketing intelligence and marketing research. The information analysis system then processes this information to make it more useful for managers.Internal RecordsThese are information gathered from sources within the company to evaluate marketing performances and to detect marketing problems and opportunities. Most marketing managers use internal records and reports regularly, especially for making day-to-day planning, implementation and control decisions. Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities.Information from internal records is usually quicker and cheaper to get than information from other sources, but it also presents some problems. Because internal information was for other purposes, it may be incomplete or in the wrong form for making marketing decisions. For example, accounting department sales and cost data used for preparing financial statements need adapting for use in evaluating product, sales force or channel performance.Marketing IntelligenceThe total information needs of the marketing department can be specified and satisfied via a marketing intelligence network. The marketing intelligence system determines the intelligence needed, collects it by searching the environment and delivers it to marketing managers who need it. Marketing intelligence comes from many sources. Much intelligence is from the company's personnel - executives, engineers and scientists, purchasing agents and the sales force. But company people are often busy and fail to pass on important information. The company must 'sell' its people on their importance as intelligence gatherers, train them to spot new developments and urge them to report intelligence hack to the company.The company must also persuade suppliers, resellers and customers to pass along important intelligence. Some information on competitor's conies from what they say about themselves in annual reports, speeches, press releases and advertisements. The company can also learn about competitors from what others say about them in business publications and at trade shows. Or the company can watch what competitors do - buying and analyzing competitors' products, monitoring their sales and checking for new patents. Companies also buy intelligence information from outside suppliers.
Why marketing intelligence is necessary for entering foreign companies?
otherwise they will cheat you
Is the marketing intelligence system producing accurate sufficient and timely information about market place developments regarding customersprospectsdistributors and dealerscompetitor and various pub?
No, this is because the market varies on daily basis (oil business)The information they get from marketing intelligence maybe different from what customersprospects distributors and dealers are selling and moreover the landing cost of the product brought maybe hiddin from the actual landing cost. The question here is that how do we solve this problem and get accurate information on marketing intelligence in other to know what other competitors are doing? No, this is because the market varies on daily basis (oil business)The information they get from marketing intelligence maybe different from what customersprospects distributors and dealers are selling and moreover the landing cost of the product brought maybe hiddin from the actual landing cost. The question here is that how do we solve this problem and get accurate information on marketing intelligence in other to know what other competitors are doing?
