Today, in this competitive scenario, competitive advantage is fleeting and the ability to brilliantly market and sell products and services becomes very important for survival. If you are not able to respond to the rapidly changing market and supplier dynamics, it is surely a disadvantage. Therefore, market intelligence services are there to help you assess […]
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Today, in this competitive scenario, competitive advantage is fleeting and the ability to brilliantly market and sell products and services becomes very important for survival. If you are not able to respond to the rapidly changing market and supplier dynamics, it is surely a disadvantage. Therefore, market intelligence services are there to help you assess and organize data to gain real-time insights on core competitors, suppliers, and customers. This creates an outside-in-perspective and helps bring about a competitive advantage. Market intelligence services provide a birds-eye view of industries, potential markets, and suppliers. This can open the door to new opportunities and enable you to hold more power over availability, supply chain costs, and reliability. Market intelligence services help you to act faster than your peers, make beneficial business decisions, and react more efficiently to the needs of dynamic customers.
We at Infiniti, with the help of our market analysts and experts, have tried to answer all the necessary questions about market intelligence services in this article. Here we go:
#1. What do Market Intelligence Services Mean?
Market intelligence gives an ongoing and holistic knowledge of all dimensions of the marketplace. It helps analyze many different business areas like products, competitors, customer insights, and market dynamics. These four areas cover several factors like acquisitions, corporate strategy, executive teams, promotions, pricing, cost structure, segments, market size, forecasts, brand loyalty, trends, satisfaction rates, and product concerns. Market intelligence offers a broad perspective by tracking competitors as well as the state of the whole industry. Therefore, it provides valuable insights into improving the business model of companies and also helps in shaping their strategic directions. There are three types of market intelligence services that are extensively used today:
- Competitive Intelligence Marketing
- Market Intelligence Research
- Online Marketing Intelligence
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