A company’s ability to predict and respond to competitor strategies, market trends, and consumer behavior is essential. Which of the following statements accurately reflects a core component of a successful marketing intelligence system?
1
Marketing intelligence is primarily concerned with analyzing customer demographics and purchasing patterns only
2
It involves gathering data from a variety of internal and external sources to anticipate competitive moves and market shifts
3
The focus of marketing intelligence is solely on monitoring competitor pricing strategies
4
Marketing intelligence systems focus mainly on financial reporting and sales forecasts.
5
The marketing intelligence function has no role in formulating strategic decisions, only tactical ones.