Hat Are The Steps a Company Can Take To Improve Th

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Q: What are the steps a company can take to improve the quality of its marketing intelligence? In the modern business environment, managers when doing marketing researches are critically required to obtain not only valuable information but also the newest ones which are through efficient methods and systems or collected by sophisticated tools. One of the most common methods is marketing intelligence which required proactive, quick and accurate activities through seven steps, which are (1) Train and motivate the sales force to spot and report new developments. (2) Motivate distributors, retailers, and other intermediaries to pass along important intelligence. (3) Network externally. (4) Set up a customer advisory panel. (5) Take advantage of government data resources. (6) Purchase information from outside suppliers. (7) Use online customer feedback systems to collect competitive intelligence. Train and motivate the sales force to spot and report new developments. Company must "sell" its sales force on their importance as intelligence gatherers. Grace Performance Chemicals, a division of W. R. Grace, supplies materials and chemicals to the construction and packaging industries. Grace sales reps were instructed to observe the innovative ways customers used its products in order to suggest possible new products. For example, some customers were using Grace waterproofing materials to soundproof their cars and patch boots and tents. Seven new-product ideas emerged, worth millions in sales (“The Marketing Intelligent System”). Train and motivate the sales force to spot and report new developments with the speed of arriving new information, such as stocks like Down Jones or merchandise flowing data, comes in seconds; sales force personnel are required to be alert to analyze the any meaningful trends of the any business events more than

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