Marketing Intelligence

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Decision-Making Unit page Buyer's Behaviour page The Report page

What is Marketing Intelligence?

Marketing intelligence

This can be information gathered from many sources, including suppliers, customers, and distributors. Marketing intelligence is a catch-all term to include all the everyday information about developments in the market that helps a business prepare and adjust its marketing plans. It is possible to buy intelligence information from outside suppliers (e.g. Mintel, Dun & Bradstreet, and Mori) who set up data gathering systems to support commercial intelligence products that can be profitably sold to all players in a market.

Quoted from: Tutors 2 u .com

1) LO1.1, LO1.2

A: Understand buyer behaviour, the purchase. The Decision Making Process.
As follows I have explained the main stages of the D MP (Decision making process) for the individual and the industrial purchaser. The industrial buyer goes through a similar process to the individual customer but, the process for the industrial buyer is longer due to the DMU (Decision-Making Unit) to make a purchase a more rational decision needs to be made.
Research advocates that a customer goes through a five stage decision-making process in order to make a purchase. This is shown in the stages below.
Stage One : Problem / Need Recognition
The buying process starts here with the need or problem being recognised. The buyer will recognise a problem or a need and will decide how much information is needed for the purchase. E.g. I am hungry, we need a new sofa, and I have a headache. If the need is strong and you are nearby to a product or service that will alleviate the need then a purchase would be instant if not then the process of information search would commence. In the…...

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