What is Market Intelligence ?

What is Market Intelligence …

Market Intelligence is the highest level of intelligence and supersedes all other types and sources. It is the most complete intelligence system that elaborately ties together all intelligence collecting and reporting for verification as to its accuracy and reliability and value. It is used for strategic, tactical and counter-intelligence decision-making. ~tfg

The Official Definition of Market Intelligence

Market Intelligence (MKI) is gathered through internal analysis, competition analysis, and market analysis about the total environment forming a broad spectrum of assembled knowledge, which is then used for developing scenarios so that timely reporting of vital foreknowledge for future planning in the areas of strategic, tactical, and counter-intelligence decision-making can be applied operationally and strategically in respect to the whole organization’s strategic interest for the whole market. (Grooms, 1991 and 1998) 

The structure of the Model of Market Intelligence is a double helix that can usurp to make copies of itself in other dimensions and realities to reveal an ever infinity of knowledge and forecasts. The Market Intelligence Model provides a missing linage present in organizations at the highest levels. The model gives reassurance to help ensure a broad scope of checks and balances protecting the CEO, senior executives ,and government senior officials as well as the organization, its value and performance. Market Intelligence is what makes intelligence, intelligence. (Grooms, 1998)

Intelligence Terminology

Market Intelligence is the umbrella which encapsulates the following terminology and all business intelligence.

Intelligence (I) is verified data and piecemeal information to form a pictorial representation of competitor influence and intent. Market Intelligence is not synonymous with intelligence. Intelligence is evaluated information that has been established and applies to a scenario or marketing situation. Intelligence is used to provide current estimates and forecasts. In the intelligence community it is the secret information gathered about an enemy. (Intelligence community and business environment)

Political Intelligence (PI) is government policies of power and economic processes interrelations and their political influence on the conduct, make-up, and principles of government, the governed and institutions. (Total environment)

Economic Intelligence (EI) is econometric analyses of economic systems, cycles, monetary and fiscal policy, tracts resources and collects information about labor, capital, markets, natural resources, scarcity, production, distribution, logistics, consumption of goods, services, money, costs, underground, absolute advantage, comparative advantage, competitive advantage, and trends in the microeconomic, macroeconomic, and managerial economic environments. Economic intelligence is the economic analysis that allows a nation to estimate the magnitude of possible military threats and is valuable in estimating the intentions of a potential enemy in wartime. (Total environment)

Military Intelligence (MI) is an invisible secret advantage gained through hidden means by the military in war time and peace time. Military Intelligence Estimates involves the collecting, analyzing, evaluating and disseminating of information for security and penetration. Tactical and strategic data and movement is gathered for a military conclusion. (Military and commercial environment)

Business Intelligence (BI) is the covert collection of intelligence by espionage, illegal, or unethical means that is not openly and legally available. Market Intelligence is not synonymous with Business Intelligence. This is a historical understanding within the intelligence community. Business Intelligence in the business environment supposes anything associated with business activities. (Intelligence community and business environment)

Knowledge Management Systems (KMS) is a structure for organizing information and its transformation, which is selected, collected, refined, shaped, and distributed for management of that knowledge. Market Intelligence is not synonymous with Knowledge Management Systems. (Distribution environment)

Marketing Research (MKTR) is the collection and analysis of market data and market factors for developing new products and marketing operations. Market Intelligence is not synonymous with Marketing Research. This is not an intelligence facility. (Sales environment)

Marketing Information Systems (MKTIS) is the use of intelligence information specialists and intelligence systems to collect, analyze, and organize information. Market Intelligence is not synonymous with Marketing Information Systems. (Sales environment)

Competitive Intelligence (CI) is the collection and analysis of competitor data about the identity of competing business and industries in the external environment. Market Intelligence is not synonymous with Competitive Intelligence. Competitive Intelligence is about identifying potential aggressor risks and anticipating new market opportunities. (Sales environment)

Competitor Intelligence (CRI) is the collection and analysis of competitor data about the identity of specific competitors in the external environment. Market Intelligence is not synonymous with Competitor Intelligence. Competitor Intelligence is about managing risks and anticipating new market opportunities. (Sales environment)

Marketing Intelligence (MKTI) is the collection and analysis of environmental scanning data in the marketing environment that helps managers to prepare and adjust marketing plans to monitor earlier decisions and future planning in the sales environment. Market Intelligence is not synonymous with Marketing Intelligence. Marketing Intelligence activities include strategic, tactical, and counter-intelligence. (Sales environment)

Strategic Intelligence (SI) is the long-range analysis of all environmental factors for forecasting and planning that might effect the marketing position of the organization. Market Intelligence is not synonymous with Strategic Intelligence. (Sales environment)

Tactical Intelligence (TI) is designed for the operational needs of the organization. Market Intelligence is not synonymous with Tactical Intelligence. (Sales environment)

Counter-intelligence (CTI) is the methods designed to neutralize competitive intelligence systems and operations so as to prevent transfer of intelligence to the competition. Market Intelligence is not synonymous with Counter-intelligence. (Sales environment)

Real-time Intelligence (RTI), the actual time elapsed in the performance of collecting information and its process into knowledge, is the result of the intelligence process being required for the continuation of a best judgment process. The common denominator in real-time knowledge is having intelligence to the policy-makers and decision-makers when they need it. (Total environment)

Whisper Intelligence (WI) is to communicate very softly, quietly, and cautiously a secret or confidentiality undetected. CEOs, senior executives and government agencies take a fresh look at the entire issue of commercial information security in the form of information protection, which requires a broad understanding of the material to be guarded, and information, in all forms, written and electronic, visual and oral is what makes any organization succeed. (Total environment)

Thomas Fletcher Grooms, Henley Ph.D. “Market Intelligence: CEO Attitudes Toward Knowledge Management Systems” 2001, 534 pages, US Library of Congress ISBN: TX U-987-180 Academy of Market Intelligence Publications and University Microfilms International (UMI) @ ProQuest Dissertation Abstracts International. (800) 521-3042, www.umi.com.

Thomas Fletcher Grooms, Henley Ph.D. “Establishing the Foundation for Market Intelligence” 1998, 416 pages, UMI: LD 03809, Volume 23, Issue 03R US Library of Congress ISBN: TX 4-731-787 University Microfilms International (UMI) @ ProQuest Dissertation Abstracts International.