Question

Marketing Intelligence vs. Marketing Research

In simple terms, market intelligence is information that is gathered for the purpose of making business decisions.  It is largely synonymous with market research, the systematic gathering, recording, analysis and interpretation of information about a company’s markets, competitors and customers.

In a detailed 2-3 paragraph answer, briefly describe what are the differences between the two.

Answer 1

The main difference between marketing intelligence and marketing research is that the latter is more company-specific. Marketing intelligence is existing information that small-business owners use to study markets, competition, political implications and consumer demographic variables. Marketing research data is not readily available. Companies usually use the phone, Internet or in-person surveys to garner marketing research data. Marketers use both types of information to analyze their business situations and develop marketing strategies.

Small companies use marketing intelligence and marketing research to study their markets. A marketer, for example, may use marketing intelligence to determine her company's market share, which is the percentage of units and dollars her company wields in the marketplace.