A marketing intelligence system

     A marketing intelligence system is a set of procedures to obtain and evaluate the daily information about development in the marketing environment. It is monitoring system of market and marketing manager collect all the data related to particular market. The information source may be book, newspaper, online survey, meeting with other, taking feedback from customer etc.

     The marketing intelligence play a vital role to promote the goods or services in competing market so the quality of marketing intelligence so be improve timely. The several steps to improve marketing intelligence are:

 A company can train and motivate the sales force to spot and report new developments

     The company must plan according to the information gathered from market. They have to analyze the market and have to establish their market where there is high probability of success. The company should try to innovate new things from current goods. They have to motivate and train the marketing person. They have to analyze what may be alternative use of particular product. If they found alternative way of using product then market of that particular product will increase rapidly.

 A company can motivate distributors, retailers, and other intermediaries to pass along important intelligence.

     Now a day’s customer hold a power to selects the goods. The company have to attract the customer for this the dealers or retailer or selling person should be trained to communicate effectively to customer. Furthermore a company should motivate distributor or retailers and other intermediaries to pass the correct information about company and the product. In a real seniors they have a power to convince the customer so company have to focus how to motivate them. The intelligence system collect information how well they are communicating with customer and external environment of stores to attract customer.

A company can network externally

     The company should maintain external network to analyze the market. Higher the network there will more information and this information should be used to analyze the market. Sometimes the company have to purchase other company product to know what is weakness and strength of that product, they have to attain different trade shows to know what is coming new on market, they have to talk to employee and customer to get feedback, they have to maintain good relationship with media, they have to update timely and they have to analyze all the report before setting target.

 A company can set up a customer advisory panel.

     Most of the company have customer advisor to communicate with customer. They deal with customer problem and feedback, they will try to solve it more efficiently to give better service to the customer. To improve quality and market there should be customer advisor in the company who maintain a good relationship between company and customer need.

 A company can take advantage of government data resources.

     Timely the government used to publish the different data related to different field. The company should use these data to predict the market. The government publish these data according to the survey or after deep study on field so these data are more effective and taking these data as reference it will increase efficiency of the company and it will saves more time and more money.

A company can purchase information from outside suppliers.

     Sometimes the information that is necessary to make a future plan may not be available internally or doing survey to get information will take more time and money so purchasing data from outside will be more effective  These information plays an important role to elaborate the market so the company have to purchase it. For example there is number of health site who collect the information about patient and about their health and they sell data to health related company or hospital. And they likely to purchase it.

 A company can use online customer feedback systems to collect competitive intelligence.

     It becomes very easy for the company once the customers give them their feedback of their products and services. The customers are the ones to consume them and they know which part needs improvement. For this, the company must create online platforms such as: chat rooms, blogs, discussion forums, customer review boards in order to generate customer feedback. This enables the firm to understand customer experiences and impressions.