Marketing information and intelligence and their roles in generating customer insights

Abstract

Businesses revolve around customers. Companies require knowing and understanding their customers well. To achieve this, companies require knowing customer requirements and having customer insights. Customer insights cannot be generated unless companies have processes in place to collect marketing information and marketing intelligence. The focus is to do a detailed discussion about the various aspects involved in collection of marketing information and marketing intelligence for generating customer insights. Companies require having an efficient marketing information system in place. Marketing information systems help in capturing and storing information about customers. The paper also focuses on competitive intelligence to have a better understanding of customers. Companies require following ethical practices in collecting and analysing marketing intelligence. The paper focuses on this important aspect of business. Proper coordination and utilisation of marketing information, marketing intelligence, and marketing information systems will help companies to generate better customer insights and develop customer relationships.