Market intelligence (MI) is a key tool for better decision making, success, and even survival for firms today, and it comes from the strategic use of a carefully analyzed collection of key information. Enterprise-wide use of market intelligence is increasing, as firms see its power and benefit. Firms that embrace market intelligence use it at all levels of the organization, fostering a culture where everyone thinks “intelligence”, and contributes to its evolution. The establishment of a market intelligence process in firms today is increasing at a rapid rate.
Effective MI is a process of: identifying and collecting information, both internal and external to the firm; analyzing it, interpreting it using business and industry experience and knowledge; and using it to make more informed decisions. This course provides a broad and in-depth understanding of market intelligence (MI), focusing on MI as a process, and the perspective taken will be that of à manager using market intelligence. Students will learn the tools, techniques, sources, analytical processes and technology of MI, and will review best practices and cases of MI in action. This course is intended for marketing and business students.
- The art and science of market intelligence
- Managerial perspective of market intelligence (MI)
- Establishing and directing a MI function
- Identifying information stakeholders and their requirements
- MI as a process: determining information needs and sources, and filtering available information to capture relevant material
- Understanding the technological, analytical, interpretative and managerial tools and techniques used in effective MI
- Transforming information into actionable intelligence
- Ethical, legal and regulatory issues in MI.
Methods Of Instruction
Students will be involved in an active learning environment, and will study the concepts, techniques, tools and management processes that are critical to effective MI. They will demonstrate their ability to apply the required skills by sourcing information, analyzing business cases of MI in action, performing on-line research, completing case analyses, and preparing assignments.
Means of Assessment
STUDENTS MUST COMPLETE ALL COMPONENTS OF THE COURSE TO OBTAIN CREDIT FOR THE COURSE.
The fundamental objectives of this course are:
- to provide students with an understanding of market intelligence (MI) from a managerial perspective
- to provide them with a knowledge foundation from which they can utilize MI effectively
After successful completion of this course, students will:
- Understand the world of market intelligence and its importance to businesses
- Understand analyzing and processing information, and the art and science of identifying appropriate information and sources of information.
- Be capable of developing simple information plans
- Be able to acquire, filter and warehouse information
- Be capable of applying tools and techniques such as data mining, data visualization, information analysis and selection
- Know the basics of creating intelligence teams
- Have the skills to report market intelligence information in a fashion that facilitates generating a cohesive view of the company’s market situation and enhances decision making.
Textbooks and Materials to be Purchased by Students
A Coursepack with relevant articles on market intelligence will be prepared for students to purchase.