Marketing intelligence is the system of collecting the data meant for an organization’s marketing efforts and analyzing that data in guiding the decision-making process of campaigns. Marketing is essential for enhancing the value of organizations. The information systems adopted by the organizations enable proactive insights in the stages of acquisition and retention.
Marketing intelligence makes the organizations aware of competitors' successes and customer insights. The marketing strategies become result-oriented after the adoption of the marketing intelligence system. The areas of management need to have access to information for better decisions. Marketing Intelligence enables the marketing department to make effective decisions.
The situations like downfall in sales, decrease in customer buying attitude, and so on may lead to a decline in market share and restrict companies’ market growth. The success of Cadbury and Asian Paints in their respective market is their practical usage of marketing intelligence. The sales, marketing, and service differentiation in an organization mark its unique distinction in the market. The marketing plan becomes the regular choice in marketing intelligence.
The changing marketing practices have made the marketing environment dynamic and expect the marketers to operate, analyze and collaborate across multiple channels to enhance customer satisfaction. Despite using niche marketing, Apple has carved a segment for its brand, and its consistent marketing effort is always impactful. Marketing intelligence is genuinely a useful tool for successful organizations.
Views expressed above are the author’s own.
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