What is Market Intelligence?

Marketing Intelligence is a information that is used by the organisation is unique to the brand.

Market research and Competitive research are the basic building blocks of Marketing Intelligence.

In Marketing intelligence, the knowledge is generated in two ways the first one being codified
knowledge that constitutes 5 percent and is derived from the market data. The second is the Tacit
knowledge or soft conceptual skill that is derived from personal experience and varies person to
person. This knowledge constitutes about 95 percent to marketing intelligence.

Ex: Production of Colgate salt toothpaste and its relevant information is unique to its own brand and
this information can be used to predict future demand/trends.

Name and explain three functions of Market research department.

• Buying research:

The top heads of the company buy data about marketing companies like Nielson and this is perfectly
ok and all the competitors can buy those.

• Data interpretation

The data is interpreted at the end of every research in the form of trends, new change customer
expectations and the new product line-up.

• Mange research process:

There are two research departments internal and external

The inducer of research has to align with both internal and external officials like a retail store owner
and the sales head