This helps businesses solve the problem

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Thus, businesses can build more effective development plans. Identify target audience By gathering market information, market intelligence allows a company to understand the needs of its audience. Thereby, businesses can list their target audience for specific products and services in a reasonable manner. Support the management of fund and resource allocation When using market intelligence, businesses know which strategies are highly effective and suitable for the goals set in each stage to apply. of allocating funds and resources in business. Analyze competitors In market intelligence, collecting information about competitors is very important. By using that information, businesses can understand their competitors' failures and make the right business decisions. Things to know about market intelligence 04 aspects of market intelligence Market intelligence includes 4 different aspects , specifically: 1.


Competitive intelligence (competitor intelligence) Competitive intelligence is a legal Email Data method of gathering information from competitors to analyze their strengths and weaknesses . From there, businesses can make better business decisions to increase competitiveness. Things to know about market intelligence Things to know about market intelligence 2. Product intelligence Product intelligence involves gathering information about the products a business itself offers in the market. The information often focuses on the quality and performance of the product. 3. Market understanding Market insights focus on finding information and understanding a product's performance in the current market. At the same time, this aspect will consider other markets where the business wants to launch products. 4. Customer understanding Understanding customers will be the key to success for every business during and before sales.



Therefore, understanding customers is the most important aspect of market intelligence for any business. 02 databases of market intelligence There are two types of market intelligence : market intelligence based on external data and market intelligence based on internal data. Specifically: Market intelligence relies on external data Market intelligence based on external data is understood as information and data to serve marketing strategies originating from outside the organization. It is collected through searching from available data sources. marketing intelligence Market intelligence relies on external data The most frequently used external sources in market intelligence are: Competitor information , including everything from activities and events to publicly available financial data.