A Marketing Intelligence System is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment.
There is more to marketing than simply arranging and carrying out marketing plans to help a product become available in the market and become part of the daily needs of most consumers. While medieval approaches are still in effect today, most old style companies choosing to follow the standard practices of management style and carrying out the operations and strategic management perspectives, changing times have carried people towards new heights, the summary of it all is thinking and planning ahead of what the market currently has to offer. There are various means on how to assess the markets today. The information that can be collected through various means, such as books, newspapers, trade publications and other event productions that are pushing for respective products. The various practices offer unique concepts and ideas, more on event marketing proceedings that will instigate and build brand awareness and product existence in the markets today.
The good thing about proper preparations for the market and the strong foundation that is built in line for unleashing the product into the market is a good way to build motivation and product confidence for the various distributing channels, retailers and intermediaries, key elements to have the product in the various end points of purchase by the target consumers. Hence the marketing process is really more than just forecasting and hypothesizing, but rather a product from which studies and business planning stems from.
Articles and Reference Links:
- Using Business Intelligence to Discover New Market Opportunities
- Tracking Change In Unusual Ways
- Building Better Decisions: Strategies for Reducing Risk and Avoiding Surprises
Originally posted on October 25, 2006 @ 11:49 pm