Your marketing department is attempting to improve strategic decision making, track competitors' actions, and provide early warning of opportunities and threats. To achieve this goal, which of the following would be the best for your department to use?

Question

Quizplus · Accepted Answer

Marketing intelligence involves gathering information from various sources like competitors, customers, suppliers, and distributors to improve strategic decision-making, track competitors' actions, and provide early warning of opportunities and threats. It provides a broader and unbiased perspective of the marketplace that cannot be obtained from internal data sources like internal databases, company reports only, or the Internet. External databases may provide relevant data, but they may be limited to a specific industry or market segment. Therefore, marketing intelligence is the best choice for improving strategic decision-making and keeping track of competitors' activities.

Your Marketing Department Is Attempting to Improve Strategic Decision Making