In the process of market intelligence for McDonald, there are three major areas that must be taken into consideration which are ‘ information’ , ‘ communication’ and ‘ people and processes’ . To conduct accurate and relevant marketing research, marketing intelligence plays a very crucial role by providing the necessary information. However, McDonald must determine what information it needs. There are two major questions relating to the sources of information i. e. (1) What are the internal information sources? and (2) what are the external information sources? External sources of information must include necessary data relating to the key competitors and target consumers.
McDonald’ s must access the relevant published sources to analysis the key strengths, weaknesses and market share of the competitors. This external information must indicate the recent developments taken place in the market and among the competitors. Consumers’ changing behavior also needs to be identified using external information. On the other hand, internal sources of information are also very crucial. However, obtaining such information is an easy task for McDonald’ s as it needs coordination with cross-functional departments. Hence, McDonald’ s must carry out database analysis to understand the up-sale and cross-sale opportunities and to identify the potential consumers.
CommunicationThe primary difference between market intelligence and marketing research is the basic communicational process. In market intelligence, there is better communication between the decision-makers and market intelligence analysts. On the other hand, communication is necessary for gathering and disseminating external and internal information. However, in market intelligence, the two most important questions relating to communication are ‘ how to develop better communication for gathering information? ’ and ‘ how to develop communication for decision making? ’ For gathering external and internal information, better communication is necessary. McDonald’ s must implement IT systems like RFID and SAP for developing interference-free data gathering.
It helps to build a flawless and continuous communication system (Koster and Muñ oz, 2009, p. 358).
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