(CHAPTER 3)

Market Intelligence
and
Intellectual Property Rights
By
Dr. Mohd Asif Shah
 Market Intelligence
“It is not the strongest or the most intelligent who will survive
but those who can best manage change.”

•Market intelligence is defined as the information or data that is

derived by an organization from the market it operates in or wants
to operate in.
•This is the information compiled from both internal and external
sources about a specific market which a business wishes to trap.
•This is basically the very first set of data which the company
analyses before they take any investment decisions.
 Market Intelligence
Market research is a important factor when you are going to launch a
product, or trying to improve your existing one, or when you are just
looking to take a first mover advantage from your competitors. It will
provide you with all the information you need to make a better business
decision, so as to sustain in the market for the long run.

It will help you to get the answers for the following things:
1.Who will buy your product?
2.Who are your ideal customer personas?
3.How often will they buy?
4.What do they need?
5.What do they want, expect?
 Importance of Market Intelligence
Market research is a important for:
1.Better understanding of our customers.
2.Knowing the strengths and weaknesses of our competitors.
3.Saving us from delivering a bad product to the marketplace.
4.Understanding how to remain in business and stay relevant.
5.Minimizing losses and continuously growing.
6.Setting better goals for our business.
7.Identifying how to reach our intended audience.
8.Creating the relevant promotional materials for our products.
9.Lowering the business risks.
 Five Main Market Intelligence Techniques
1. Market Entry Research
Businesses carry out the market entry and expansion studies to enter new
market areas or expand their presence in markets in which they are already
established. This research technique gives insights on whether the business
should invest in new sectors or invest further in existing markets.

2. Competitor Intelligence Research

This technique is one of the most popular ones as businesses are becoming
more keen to get the inside view of their competitors. Whether it the sales
figures or the production data businesses want to know it all. Competitor
insights are very important for the business as it provides a diversity of
information based on which the business can plan their actions.
 Five Main Market Intelligence Techniques Continued…
3. Needs Assessment Studies
As competition increases, the consumers are readily getting more and more
options to choose from. Hence it has become very important for business to
try and meet the needs of customers to stay in the market. Needs
assessment research is a combination of qualitative and quantitative data
which helps the business to measure the extent of a need within a market.
4. Market Segmentation
Segmentation is an unusual means of distinguishing your business from the
competition. With needs-based segmentation based on quantitative data on
the target audience business can ensure that they meet the specific needs of a
specific demographic group. Market segmentation studies have a direct
impact on the marketing strategy and it can also influence the product
development process.
 Five Main Market Intelligence Techniques Continued…
5. Branding Research

The brand strategy research technique helps to assess the existing value
of your brand. It helps to measure the levels of consumer dissemination
and support. With intelligent branding research business can ascertain
the strengths and weaknesses of their brands and highlight the
opportunities to attack competitors.

Making informed business decision is the only key to the

success for any type of business.
And Market intelligence is the answer to go about it.
 Methodologies Used In Market Intelligence
Techniques
1. Online Surveys 6.Focus groups
2. In-Person Surveys 7.Personal
3. Telephone Surveys Interviews
4. Mail Surveys 8.Observation
5. Questionnaires 9.Field trials
 Intellectual Property And Its Relation To Business Development
• Intellectual property is a broad categorical description for the
set of intangibles owned and legally protected by a
company from outside use or implementation without
consent.
• Extracting value from intellectual property and
preventing others from deriving value from it is an
important responsibility for any company.
• In 2017, there was a widely publicized intellectual property
case in which a company called Waymo sued Uber over
alleged stealing and implementation of technology relating to
Waymo's self-driving car program.
 Intellectual Property And Its Relation To Business Development
• In today's competitive environment, innovation is the mainstay for
every business that leads to development of intellectual property.
• Identifying, developing, and leveraging innovation provides
competitive edge and aids in long term success of the company.
• Intellectual property is not limited to technology companies, but is
valuable for every business which invests huge sums in research and
development for creating indigenous products and services.
• A company should be proactive in implementing IP solutions to
identify novel innovations and increase revenues.
• A well-defined IP goal can result in achieving business objectives and
help position the business as a leader in the marketplace.
 Intellectual Property And Its Relation To Business Development
• In the countries, where the government sees an opportunity to
attract new investors to the country to create new jobs and
increase economic growth. An important prerequisite is laws
and policies on copyrights, patents and trademarks.
• When a product is protected, registered and patented, it can
create jobs and contribute to economic development.
• As all of us are aware with the damage that a pirate copy can
do in the food, cosmetics or pharmaceuticals industry. If a
country has control and enables the registration of goods to get
them out in the formal market, it contributes to a sound
commercial climate, to jobs and income for the state.
 Intellectual Property And Its Relation To Business Development
1. PATENTS provide inventors with a legally protectable monopoly over their
inventions and protect new and inventive technical features of products and
processes.

2. TRADE MARK is a sign or symbol used by a trader to distinguish its products

or services from those of other traders.

3. COPYRIGHT protects original artistic, musical, dramatic and literary works

(including computer programs), sound recordings, films, broadcasts and
typographical arrangements of published works.

4. TRADE SECRETS can be used to protect sensitive business information

through rights in confidential information (which covers know-how).
 Intellectual Property And Its Relation To Business Development
New or original knowledge and the creative expression of ideas is the driving
force of successful businesses in the 21st century.

Therefore, protection of such knowledge and creative expression from

careless exposure or its unauthorized use by competitors is becoming
increasingly critical for developing and holding competitive advantage.
IPR Can Help in:
•Protecting what the business creates.
•Maximizing the business’ competitive position.
•Avoids infringing the IP rights of other people and businesses.
•Obtaining funds.