Marketing intelligence is the process of collecting the required data by a company from the market that it plans to operate or operate in order to make decisions in relation to competitors, products, and consumer behaviors.
Market intelligence is a vital aspect to understand the state of the market, as well as helps collect Competitor Intelligence which in turn aids towards becoming profitable for the company.
From the results of these audits, the client gets a good idea about the current trends, Market Intelligence data and what exactly the customers expect from their products or services. Based on the market’s demands, the company can execute its plan of action.
On the whole, Market intelligence Research helps to determine market segmentation, market penetration, market opportunity, and existing market metrics of a company so that the company can focus its efforts on the right people thus saving costs and efforts.