Small companies often want to determine how they are faring in certain markets. Hence, they may order secondary research reports from companies like us. One important component of market data is market share, which tells a company what percentage of the market it controls in both units and dollars. Business owners also can use the data to determine whether there's room for growth in certain markets.
Another type of marketing intelligence is competitive information. Business owners usually use industry reports, articles, newsletters and personal observation to study their competitors. They may also collect competitive brochures or study their websites. Companies use competitive information to learn more about competitors' investments, organizational changes and strategies. They may also purchase competitive products to study various features and technology. Our marketers may also study competitive information to determine the types of customers they serve.