Content area
Full Text
Keywords
Market intelligence, Market research, Trends, Strategic management, Decision making
Abstract
Many large companies in Asia are turning to market intelligence for input into their strategic
management system and decision making. Conventional marketing research is increasingly viewed as being too narrowly focused on tactical and operational issues. It is characterized by an overriding concern with data rather than analysed information and the research is often conducted in response to an apparent market threat or opportunity rather than on an ongoing basis. This paper attempts to highlight the role of the Internet for market intelligence purposes. It proposes and demonstrates the marketing intelligence process, techniques and procedures, as illustrated by a case study on Creative Technology. Believes that the intelligent use of the Internet is strategically beneficial for both marketing research and intelligence.
I Introduction A question often asked among business managers is, "What are the essential steps that a company should adopt in a period of uncertainty?" From a marketing research perspective, the possibilities are many. A recent issue of Esomar Newsbrief (1998a) pointed out that in the midst of the evolving economic downturn, some companies were embarking on market development efforts to reinforce their competitive positions. According to the report, this endeavour focused on new product development and simulated test market types of work. By planning their business to match the changes in consumer behaviour, these companies were developing products and services with a two- or three-year time horizon, particularly in fast moving consumer goods. There was less developmental effort in the luxury goods market as premium brands had been hit and consumers were trading down to those brands which have in the past lagged behind in their market positions. Marketing research and strategic planning have become more essential in providing firms the opportunity to stay ahead of competition. During times of economic boom, firms are provided with ample slack resources to penetrate the market. The excess resources of the firms allow them certain margins of error for failure of their products or services but these tend to diminish during periods of uncertainty. Thus companies are more averse to taking business risks and attempt to increase the probability of right decisions in the market as there is much less latitude for...
