MANAGEMENT

Detailed explanation-1: -Marketing intelligence is everyday data that is relevant to the marketing efforts of an organization. Once collected, this data can be analyzed and used to make informed decisions regarding competitor behaviors, products, consumer trends, and market opportunities.

Detailed explanation-2: -Marketing information management focuses on 3 main areas: internal data, competitive intelligence, and marketing research. By using marketing information management, you can combine the information from all 3 of these areas. This allows you to sort and categorize your data in a way that everyone can understand.

Detailed explanation-3: -A marketing information system has four components: the internal reporting system, the marketing research systems, the marketing intelligence system and marketing models. Internal reports include orders received, inventory records and sales invoices.

Detailed explanation-4: -Marketing information management is the process of gathering, organizing, and analyzing important market research data. This data often consists of: Sales reports. Results from past campaigns.

Detailed explanation-5: -Read your competitors’ annual reports, newsletters and sales literature. Tap competitive-intelligence gathering databases. Check the Internet. This can clue you in to new competitors as well as let you know what kind of marketing plans your competition has going.