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Give the definition; sources of role of Market information and intelligence:

Give the definition; sources of, role of Market information and intelligence:

Answers

Martin
Market information refers to information about supply of, and demand for commodities. In includes information about prices of commodities, information on who wants to sell (offer) or buy (bid) what commodity, in what quantity and quality, at what price, where and when. It also includes information about the availability of storage, transport and credit facilities.
Market intelligence is the information gathering and information analysis component of building competitive advantage. To be competitive, we must continually - and strategically - gather information about markets. More precisely, intelligence has come to mean information that not only has been selected and collected, but also analyzed, evaluated, and distributed to aid decision making.

Building competitive advantage in the market place requires strategic planning, knowledge, and positioning – all of which require market intelligence. How do consumers (buyers) comparatively view your product and the product mix of your competitors? What types of market advantage are controlled by you and by your competitors? How does your operational format, short- and long-term market strategy, financial condition, managerial dynamics, and sales compare to that of your competitors?
marto answered the question on March 15, 2019 at 07:40

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