Explain how marketing intelligence differs from marketing research. Which is more valuable to a company? Why?...

Explain how marketing intelligence differs from marketing research. Which is more valuable to a company? Why? Give an example in your answer.

Expert Solution

Market intelligence analyzes industry trends and market research studies focuses on issues related to a company. It is true that both help in researching, planning and executing marketing plans.

Example- Indian automobile markets are responding well to sports utility vehicles than sedans and luxury cars. A market intelligence unit will focus on the reasons for this response along with data required for a company to develop a product.

Market research will not only focus on this SUV trend but will study market overall, market shares, customer needs and feedback for a company product.

Market intelligence focus more o social, cultural changing trends and market research relies more on conventional methods on data collection and analysis.

In my opinion, market intelligence is more important as it forecasts changing customer mindsets, competitor strategies and it can lead to market research but not the other way round.

Rahul Sunny answered 1 year ago

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