Market Intelligence Definition
Market intelligence is the process of gathering and analyzing information about a market, such as its size, growth rate, and trends. It can also include information about the competition, customers, and suppliers in that market.
Market intelligence can be used to make strategic decisions about where to allocate resources and how to enter or exit a market. For example, if a company wants to enter a new market, it can use market intelligence to assess the potential opportunity and identify the best way to enter that market. Likewise, if a company wants to exit a market, it can use market intelligence to understand the reasons for that decision and develop an exit strategy.
Market intelligence is essential for companies that want to stay ahead of the competition and make informed decisions about their business.