Marketing Intelligence and its Importance: MBA 5314 Assignment

This essay provides a comprehensive overview of marketing intelligence, defining it as a business survey obtained from various sources like business stores, competitors, customers, trade publications, and social media. It highlights the importance of understanding market trends, citing examples such as Amazon's product recommendations and FedEx's success in meeting unmet customer needs. The essay emphasizes that the goal of marketing intelligence is to analyze the external environment, enabling firms to make informed decisions and create effective strategies for promotional campaigns, target market selection, and product development. It also discusses methods to improve marketing intelligence efficiency and quality, as outlined by Kotler, including motivating distributors, setting up customer advisory channels, and leveraging government data resources. The essay concludes by reiterating that a market intelligence system is a valuable tool for gathering information, analyzing data, and developing strategies to fulfill the unmet needs of the target market, ultimately boosting a company's sales and profit.

Marketing Intelligence 1
Marketing intelligence
Supreen Chahal
Dr. Jim McCleskey
MBA 5314: Marketing Management
February 3, 2019

Marketing Intelligence 2
Marketing Intelligence
It is a business survey which is obtained from numerous sources like business stores ,
competitors , customers , trade publications , social media and feedback from customers ,
suppliers , Government resources , sales force and so on . According to Kotler (2009) , “a trend
is a direction or sequence that has momentum and durability’. ("A marketing intelligence
system", 2019). For instance, online companies like Amazon, based upon customer wish list or
searched products or their purchased history by using market intelligence system, amazon
website recommend products similar as per their history in order to serve target customer as per
their need. ("Market Intelligence System Definition | Marketing Dictionary | MBA Skool-
Study.Learn.Share.", 2019). Other example I have is FEDEX, FedEx was created in order to
fulfill the unmet needs to the customers of receiving their parcels or mails by the very next days.
Whereas in old days people used to receive mails in weeks or years. However, FedEx first
analyzed what are the needs of their target market and now as they know they are earning profits
as they have met the unmet needs of the customers. ("A marketing intelligence system", 2019)
The goal of marketing intelligence is to analyses the external environment and enables
the firm to make appropriate decisions in order to meet the needs of the target market. Market
intelligence primarily helps to create future strategies for promotional campaigns, target market,
consumer perception and product development. Some firms hire other companies for business
analysis and some companies have their own market analytic team. The main purpose of this
team is to do surveys in order to know the needs of the clients and then use promotional products
accordingly which will boost the company’s sales and profit. For instance, Sending promotional

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flyers or emails to the target customers without knowing customer’s needs, chances are that flyer
or emails will not be acknowledged by the target customers and thus the resources have spent on
this initiative would be more than the actual profit a company will make. In addition to that , it
means the conversation rate of this promotional campaign would be very less which will directly
impact the sales and profit .In contrast, if firm knows the need of their target group the
conversion and profit rate will be high . ("What is Market Intelligence?", 2019)
Kotler 2009 deliberates how to improve the efficiency and quality of the marketing intelligence:
A.) Motivates distributors and retailers
B.) Setup a customer advisory channel
C.) Take advantage of government data resources
D.) Use online customer feedback systems to collect competitive intelligence.
E.) Get information from outside and inside suppliers. ("A marketing intelligence system",
2019)

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(Pic: "What is Market Intelligence System ? definition and meaning - Business Jargons",
2019)
Conclusion
To conclude, Market intelligence system is a tool which gathers information from
the external environment and enables companies to analyze and develop results for the
company by fulfilling the unmet needs of the target market.

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References
A marketing intelligence system. (2019). Retrieved from
https://www.ukessays.com/essays/marketing/a-marketing-intelligence-system-marketing-
essay.php
Market Intelligence System Definition | Marketing Dictionary | MBA Skool-Study.Learn.Share.
(2019). Retrieved from https://www.mbaskool.com/business-concepts/marketing-and-
strategy-terms/10709-market-intelligence-system.html
What is Market Intelligence System ? definition and meaning - Business Jargons. (2019).
Retrieved from https://businessjargons.com/market-intelligence-system.html
What is Market Intelligence?. (2019). Retrieved from https://www.businessnewsdaily.com/4697-
market-intelligence.html