Marketing Information

Marketing information is identified as the results of marketing research used mainly for planning the future of marketing and product development. The information is normally obtained from a system of collection or through a single source.  There are three main types of marketing information used by marketers in gaining insights and they provide a great contribution when it comes to making wise marketing choices. These are discussed as follows;-

Internal Data

This entails the information that is collected by companies relating to the prospective customers and their customers. This taken as one type of their internal operations. When it comes to the marketing departments, it is found that they normally keep information relating to the interest and the leads generated from the prospective customers and the nature of their interactions with the respective contacts.

The marketing departments are in a position of capturing the information that is used for segmentation purpose and targeting purpose like the geographic location, gender information, age information, information about the behaviours of buying, and the preferences of communication. Another vital type of internal data is Website visitor’s information, traffic information, and other information about the activities of customer engagement.

Marketing Research

This is a systematic type of process that involves the identification of marketing opportunities and the solving of the marketing problems by use of customer insights. These are mainly derived by collecting and analysing the marketing information. Marketing research plays an essential role in identifying the problem that needs to be solved or the given opportunity that needs exploration in addition to the information that is vital for the addressing of research questions.

Marketing research also entails the processes of collecting marketing information, carrying out its analysis, identifying the insights and giving out the report of the findings and the recommendations to the parties that are in a position of taking the needed action as per the given results.  Moreover, marketing research usually goes further and covers a wide number of topics such as the market dynamics, the products, and the customers.

Competitive Intelligence

This is another type of marketing information that has an essential role to the marketers and other organization members. It helps them to come up with a clear understanding relating to their respectful competitors and the market dynamics offering competition.  The main forms of competitive advantage are the information of the product, the market share and penetration, the strategy of pricing, positioning and messaging that are competitive, and the analysis of loss or win. Another advantage of competitive intelligence is that it gives the marketers a clear understanding when it comes to improving the marketing mix such as the products they offer, the price of these products, the method of promotion, and the placement of the given product.