Sunday, April 08, 2007

Capturing market insights

Marketing information systems (MIS) -- consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision-makers.

Components of a modern marketing information system

  • internal records and marketing intelligence
  • the order to payment cycle 
  • sales, inventory, and restocking information systems
  • databases, data warehousing, and data mining

The marketing intelligence system -- is a set of procedures and sources for managers use to obtain everyday information about developments in the marketing environment.

A company can take several steps to improve the quality of its marketing intelligence:

  • train and motivate the sales force to spot and report new developments
  • motivate distributors, retailers, and other intermediaries to pass along important intelligence
  • external networking
  • customer advisory panels
  • take advantage of government data resources
  • purchase information from outside suppliers
  • online customer feedback systems to collect competitive intelligence

Four main ways marketers can find relevant online information:

Independent customer goods and service review forums such as:

distributor or sales agent feedback sites such as:

commerce sites offering customer reviews and expert opinions:

customer complaint cites:

1 comment:

Christopher Dalley said...

This is a very detailed post on the many different sources of CI. A thorough CI program is very necessary to stay ahead of the competition.

In future posts, I would be interested in identifying some of the best methods of prioritizing the CI program. Sometimes, it seems that knowledge is gathered for knowledge's sake, and that can derail an effective program.

If the purpose of a CI program is to increase market share, bottom line or operational efficiencies, it is important to have a system in place that will produce results that meet those objectives.

I have some ideas on my blog ( and I'll keep checking back to see if you have more info.

Thanks for the posts!