Abstract
Marketing intelligence, or market intelligence, refers to gathering and analyzing information about the market, customers, competitors, and other relevant factors to make informed business decisions. Market intelligence helps businesses spot emerging trends, untapped markets, and potential business opportunities. When considering expansion into new geographic areas or market segments, marketing intelligence can provide valuable information about the potential demand, competition, and market conditions. This data helps businesses make informed decisions and reduce risks associated with expansion. Marketing intelligence provides valuable insights that inform long-term strategic planning. Businesses can develop data-driven strategies that align with market trends and customer demands, ensuring sustainable growth and profitability. Based on the above, it is intended to systematically review the bibliometric literature on how marketing intelligence can leverage business using the Scopus database by analyzing 96 academic and/or scientific documents.
TopMethodological Approach
The research employs a bibliometric systematic literature review methodology (LRSB). The marketing field is rapidly evolving, with marketing at the core of the evolution. As a result, numerous research publications have been published exploring the impact of marketing opportunities on businesses. Conducting a bibliometric systematic literature review, therefore, provides a rigorous and organized approach to gathering, analyzing, and synthesizing existing knowledge. This method offers a structured framework that enhances the transparency and replicability of the review process, enabling the researcher to derive meaningful insights and uncover emerging patterns. It also contributes to a deeper understanding of how marketing intelligence can be utilized to drive business success by empowering the researcher to synthesize data from large data sources.
The literature search process began with identifying the appropriate academic database. In this case, the Scopus database was selected since it provides access to a large number of high-quality publications. Baas et al. (2020) explain that Scopus offers access to regional and global publications, such as scientific journals, books, and conference proceedings selected through a rigorous selection and re-evaluation procedure. An independent Content Selection and Advisory Board is used throughout this process to ensure that only high-quality data is indexed.
Key Terms in this Chapter
Brand Positioning: Refers to the distinct value that a brand offers to its customers.
Internet of Things: A concept that pertains to the digital connectivity of commonplace items to the internet, emphasizing the connection of objects rather than individuals.
Marketing Analytics: A marketing discipline that involves gathering and scrutinizing data to discern patterns, assess strategies, and enhance decision-making.
Customer Experiences: It encompasses all of the consumer's cognitive, emotional, sensory, and behavioral reactions throughout every stage of the consumption journey, encompassing the pre-purchase, consumption, and post-purchase phases.
Big Data Analytics: It encapsulates the process of identifying trends, patterns, and correlations within extensive volumes of raw data, ultimately facilitating data-driven decision-making.
Marketing Intelligence: Everyday data, pertinent to an organization's marketing endeavors, becomes a valuable resource when gathered. This information can undergo analysis, enabling informed decisions about competitor actions, product strategies, consumer trends, and market opportunities.
Data-Driven: Strategic choices rely on data analysis and interpretation, as companies harness the power of business intelligence to enhance their understanding of customers and markets.