ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
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This system helps managers assess their competitors and vendors in order to become more competitive. The focus is on converting information into intelligence through analysis.
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Competitive Intelligence
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Primary Data
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Survey Research
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Research Design
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Explanation:
Detailed explanation-1: -The four cornerstones of Market Intelligence are Competitor Intelligence, Product Intelligence, Market Understanding, and Customer Understanding. Each of these areas can be a discipline in and of itself. However, their true power comes from the integration of all four of these disciplines.
Detailed explanation-2: -Competitive intelligence can be gathered by going through business ads or visiting the competitor’s website. A company can learn which business practices consumers like best by searching through business reviews.
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