How do you use market intelligence to complement primary research?

Marketing intelligence depends on many things. In terms of products, the quality of goods is important for customer satisfaction. In fact, knowing what the market value of your item is is very important. Market value is not limited to the sale of goods but also on the customs and nature of the need. To find out at what point the customer is satisfied it is necessary to conduct a market survey.

Market intelligence complements primary research by providing insights into overall market trends, competitor analysis, and key industry dynamics. Use market intelligence to define research objectives, target specific audiences, and inform questionnaire design. Validate primary research findings with market intelligence, incorporate competitor insights, and continuously monitor both sources for a comprehensive and up-to-date understanding of the market landscape. The integration of market intelligence and primary research enhances the depth and relevance of your research efforts.

Statistics that are collected out of context by government agencies to embellish agencies' performance is a misuse of marketing intelligence and is a sad political weaponization of market intelligence. For example, claiming that inflation has been tamed by the Federal Reserve's strategy of applying a string of interest rate increases to cool the economy by citing stock market gains does not consider that the millions living below the poverty line still have to choose between food for their tables or gas to get to work. Incidentally where is the logic in raising interest rates (cost of money) when it is money that makes up the cost of all goods and services? Cooling an economy cuts production, employment and people's disposable income.

At @RoadrunnerLTL, we leverage multiple sources of market intelligence to gain a comprehensive understanding of the trucking industry. >Industry report produced by Mastio for valuable insights into customer perceptions and competitors. >Internal data with PowerBI reports to analyze our results. >Social media monitoring for a close eye on industry trends and competitor positioning. >Our sales force for competitor information enabling us to stay up-to-date with market developments and customer preferences. >A/B testing of our Google ads to refine our marketing messaging & positioning. >Industry conferences to stay connected with latest industry trends & with key players. >RFPs tobgatjer intelligence on pricing and competition.

The fact is that proper quantitative primary research - on a market - is a fairly specialized skill-set (+ costs $$$). Thus, most teams' "primary research" will be from within their own funnels and won't be practicing proper "validation" or statistical inference techniques. Market intel can serve to - qualitatively (given imprecise relevance) - complement whatever you find there. Otherwise, the best you can do is infer to that population your mktg campaigns successfully attract and pull thru, not answer questions about how to capture + convert more of the market. This will be a blind spot until you conduct primary quant research on your market... independent of your funnel, but yeah, market intel can fuzzily fill in that gap in the meantime

"Cognitive bias is a pernicious aspect of human thought that can make even the best among us unknowing victims," writes analyst Christopher Robb in July Jobs Report Likely Bolsters Soft Landing Narrative. "Wall Street is a 'tribe' in some ways, like any other industry or group. It has an orthodoxy on monetary policy and inflation that has blinded many in finance and resulted in spurious conclusions. Properly navigating economic cycles is difficult in the first place - even more so when you throw in simultaneous demand and supply shocks of an intensity never experienced. Accepting that many correlations that have traditionally provided insight may no longer be functional is essential to navigating today's markets."