Market and Competitor Intelligence
Market intelligence is the information relevant to a company’s markets, gathered and analysed specifically for the purpose of accurate and confident decision-making, with reduced risk.
Today, competitive information is more readily available than ever before. You can find endless information online in an instant. Yet the information that is most valuable to you and your business cannot be found on a Google search.
What is Market Intelligence?
Market intelligence is a comprehensive study of the industry and market that a business operates in, to make better decisions regarding market opportunity, market penetration strategy, and market development metrics. In addition, it evaluates the changing competitor and consumer landscape, which can be applied to market strategies.
Market intelligence is sometimes confused with competitor intelligence. The latter is a more specific term, referring specifically to information about a company’s competitors.
In effect, competitor intelligence is a specific type of market intelligence. Thus, a good quality provider of market intelligence should offer competitor intelligence as part of its range of services. Competitor intelligence research and market intelligence is designed to help your company establish a foothold in a market, or increase its presence in a market.
Benefits of Market Intelligence
Market Intelligence will help you to answer these questions:
Objectives of Market Intelligence
Our bespoke Market Intelligence service can help give you the edge in a global marketplace, empowering your business to overcome industry challenges quickly and effectively, and enabling you to realise your potential and achieve your vision.
From strategic overviews of your business’s competitive environment through to specific competitor profiles, our customised Market and Competitive Intelligence Research is designed to meet your unique needs and includes:
- Publicly available sources
- Government sources
- Trade associations
- International organisations
- Trade surveys of leading industry players
- Contact with official sources
- Local observation and store checks
Post-delivery support to answer research questions.
What is competitive intelligence?
Any Business can face challenges at any point in its journey. However, to overcome these challenges and maintain a good strategy, you must apply competitive intelligence to your business plans.
Competitive intelligence is describing, collecting, researching and interpreting intelligence about competitors, as well as its products, services and customers. It assists the executives and managers of any company to decide its course of action and achieve overall success.
Why is competitive intelligence important?
The need for accurate competitive intelligence has become more important than ever, because you can find endless competitive intelligence information just by Googling it. But, unfortunately, this information is often inaccurate, or unreliable, and does not provide the intelligence you require, which may lead to poor business planning and decisions.
A competitor research company like Insight Survey will deliver validated, customised competitive intelligence of your industry that is hard to find, and based on detailed analysis and research.
Our competitive intelligence service will give you accurate competitive intelligence data for your business and help you make smarter business decisions, according to the latest trends. In addition, it will uncover competitive insights necessary for any business to grow and flourish in the South African market.
Benefits of Competitive Intelligence
A good competitive intelligence analysis adds value to your business, as it is researched, compiled and helps to develop the best strategy.
Some other benefits of Competitive Intelligence include:
For more about our research process, click here.
Our B2B Market Research Services
Our B2B market research services can help your company make smarter business decisions by identifying key data and intelligence based on your specific needs.