BUS 2201 Discussion Forum Unit 1 PDF

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BUS 2201 Discussion Forum Unit 1........................

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Why do companies gather market intelligence and conduct marketing research?

According to Tanner and Raymond (2015), collecting market information helps to understand market trends and competitors, and enables companies to develop innovative products or innovations, which can then be evaluated through market tests. Market analysis should turn to market research. Market research is usually to solve certain problems, such as: for example, to determine whether there is a demand for a new product, choose a name for it, determine how much customers might pay for Have It, and measure customer satisfaction. 

What activities are part of market intelligence gathering?

As stated in Principles of Marketing (Tanner & Raymond, 2015), collecting market information requires multiple actions, such as browsing newspapers, industry magazines, and economic statistics compiled by the government. Websites or use search engines such as Google for simple searches. 

How do marketing professionals know if they have crossed the line in terms of gathering marketing intelligence?

Professional Marketers can quickly determine whether they are out of bounds in collecting marketing intelligence by consulting the Code of Ethics of the Association of Competitive Intelligence Professionals. The main goal is to improve the code of conduct and increase respect for professionals. Marketing conquered the market. Intelligence (Tanner & Raymond, 2015).

Reference:

Tanner, S., & Raymond, M. A (2015) Principles of marketing. University of Minnesota Open Textbook Library. https://open.umn.edu/opentextbooks/textbooks/50 Licensed under a Creative Commons by-nc-sa.

anner, S., & Raymond, M. A. (2015). Principles of

marketing. University of Minnesota Libraries Publishing edition. https://dx.doi.org/10.2 4926/8668.1901 anner, S., & Raymond, M. A. (2015). Principles of marketing. University of Minnesota Libraries Publishing edition. https://dx.doi.org/10.2 4926/8668.1901...