Market Intelligence is the gathering and analyzing of information relevant to a company’s external environment, and is often part of the company’s strategic planning function.
It refers to procedures, skills, applications, tools and practices used to support decision-making.
Many businesses use the terms “Market Intelligence” and “Market Research” in the same context. However, the term “Market Intelligence” is much broader and is usually defined country email list as a complete and continuing awareness of all facets of a marketplace.
It covers how businesses use current sources of information to comprehend what is happening in their markets, what problems exist and where the opportunities exist. It centers mainly on clients, rival companies, market trends, customer spending and suppliers.
Marketing Research, however, is one of the four cornerstones of Market Intelligence, the other three being Product Intelligence, Competitive Intelligence, and Market Analysis.