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Market intelligence provides businesses with an informed view of the
opportunities and threats they face within a target market.

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What is Market Intelligence?

As defined by Wikipedia, it is “gathered and analysed specifically for the purpose of accurate and confident decision-making in determining strategy.”

For example, is the market expanding or contracting? Are consumer trends shifting? How strong or weak is the competition? Are their gaps in demand that your product or solution could fill?

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When is Market Intelligence Important?

Without market intelligence, you could be making decisions blind. You need to know if a market is expanding or contracting, and long before analyst’s reports tell you based on revenues, you’ll have a clear picture based on consumer feedback.

When do you need Market Intelligence?

Before launching a new business, product or service; when a competitor launches; when you’re unsure how to meet your growth plans.

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Where should you use Market Intelligence?

Market Intelligence is often ‘owned’ at the most senior levels, where C-Suite executives make major strategic decisions on how and where to invest a company’s time and resources. However in larger organisations, these kinds of decisions may also be made by divisional heads and business unit owners.

 

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