what differentiates competitive market intelligence from marketing research? group of answer choices it is used to analyze competitors within an industry it involves short term research it is essential to a marketing plan it is not used within the operations sector of a business it is an ongoing process without any specific data need requirements

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04-11-2022
Business

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what differentiates competitive market intelligence from marketing research? group of answer choices it is used to analyze competitors within an industry it involves short term research it is essential to a marketing plan it is not used within the operations sector of a business it is an ongoing process without any specific data need requirements

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qwcricket qwcricket · Answer 1 · 2022-11-08T03:30:06-05:00

Market intelligence is an ongoing process unlike market research

Market intelligence is information or outside data that a corporation gathers about its target market or sector to inform organisational and competitive strategy. whereas market research is the process of assessing the viability of a new commodity by investigating the markets, rivals, and clients of the organization.

In-depth inquiries like what kind of commodities are buyers looking for or why customers favour a certain brand are the focus of market research. Once these inquiries are resolved, the process comes to a conclusion and is finite. But gathering market intelligence is a never-ending effort. Markets are dynamic and always changing; competitors don't stop working, and consumers' attitudes and preferences shift over time. Thus, market intelligence is a continuous activity.

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