Appropriate and strategic marketing as in any other set of action requires proper planning. Devising a proper marketing plan depends on many factors including market research to outline and strategize steps that would achieve the marketing goals. Many times, however, the mere market research may serve as a tool to enhance competitive advantage.
Fundamentally, market research will be a overall picture of the current market in relationship to the product and services at hand as well as the competitors current or potential standing. Hence resulting in market intelligence and or competitive intelligence. The mere formulation of a document that offers a neutral and scientific picture of the overall market standing enables the decision makers to have a clear picture that can be the basis of the decision making.
Ultimately, the gathering of competitive intelligence that occurs through market research is most obvious relationship between market research and competitive advantage. However, competitive intelligence does not necessarily translate into competitive advantage, rather than enabling a more comprehensive overall picture of the market. The competitive advantage is established by translating the available information from market research to devise an action plan to dominate the particular market.
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