This article is about information and analysis of a commercial market. For information to support marketing activities, see Marketing intelligence.
Marketing operations
Key concepts
Benchmarking
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Business intelligence
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Change management
Chief Marketing Officer (CMO)
Customer intelligence
Customer lifecycle management
Customer lifetime value
Data quality
Data warehouses
Database marketing
Demand generation
Digital asset management
Flowchart
Infrastructure
Lead generation
Marketing accountability
Marketing automation
Marketing effectiveness
Organization development
Post-merger integration
Predictive analytics
Predictive modelling
Process optimization
Return on marketing investment
Strategic planning
Systems theory
Business portal
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Market intelligence (MI) is gathering and analyzing information relevant to a company's market - trends, competitor and customer (existing, lost and targeted) monitoring.[1] It is a subtype of competitive intelligence (CI), which is data and information gathered by companies that provide continuous insight into market trends such as competitors' and customers' values and preferences.[1]
MI along with the marketing capabilities of an organization provides a guideline into the allocation and implementation of resources and processes.[2] It is used for the purpose of continuously supplying strategic marketing planning for organizations to gauge marketing positions in order for companies to gain competitive advantage and best meet objectives.[3][1]
Organizations can develop MI frameworks and models that are suited to financial capabilities and desired market sectors but are mainly based on the four-step process of collection, validation, processing and communication of MI.[4] The gathering of MI data is sorted into many different categories, including, but not limited to, qualitative, quantitative, formal, informal, published, and unpublished.[5] MI data is gathered both internally and externally.[5]
Benefits that MI can bring are that it provides customer, competitor and market insights allowing organizations to gain a competitive advantage in their marketing strategies.[1] Issues that MI can bring is through acquiring data and information through illegal or unethical ways, it can lead to financial loss and government regulatory failures.[6]
^ abcdHedin, Hans; Hirvensalo, Irmeli; Vaarnas, Markko, eds. (2012-01-02). The Handbook of Market Intelligence. doi:10.1002/9781119208082. ISBN 9781119208082.
^Carson, Grace; O'Connor, Christina; Simmons, Geoff (2020-01-01). "The crucial role of market intelligence in the development of small business marketing capabilities". Journal of Small Business and Enterprise Development. 27 (5): 797–816. doi:10.1108/JSBED-12-2019-0394. ISSN 1462-6004. S2CID 225735797.
^Cite error: The named reference :2 was invoked but never defined (see the help page).
^Jamil, George Leal (2013). "Approaching Market Intelligence Concept through a Case Analysis: Continuous Knowledge for Marketing Strategic Management and its Complementarity to Competitive Intelligence". Procedia Technology. 9: 466. doi:10.1016/j.protcy.2013.12.051. ISSN 2212-0173.
^ abCite error: The named reference :3 was invoked but never defined (see the help page).
^Cite error: The named reference :7 was invoked but never defined (see the help page).
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