How to Use Market Intelligence Reports for Your Business
Market intelligence gives companies an overview of the market forces shaping their industry. It covers everything from competitors’ activities to consumer behavior, government regulations, and significant market events such as labor strikes and supply chain disruption.
The Business Use Cases for Market Intelligence Reports
Today, markets are highly competitive. In business, change happens faster than ever before.
That’s where market intelligence can help. It puts critical information at the fingertips of business professionals to enhance strategy, improve decision-making, and boost collaboration. Other ways that businesses can use market intelligence include:
- Evaluating their strategic position in an evolving marketplace. Government regulations, public policy, consumer sentiment, new technologies, and marketplace changes should influence business strategy. Market intelligence provides insight into these factors.
- Anticipating customer demands. Staying ahead of marketplace changes and customer needs is critical to protecting market position. Market intelligence provides valuable consumer and customer information.
- Identifying new market segments. One way to increase business is to find new customers. Market intelligence can reveal new selling opportunities and potential customers by revealing changing demands or trending interests.
- Protecting against competitors. Businesses can see what tactics a competitor is using or what new products or services they are offering and then enhance their offers or marketing to address shortcomings or capitalize on an advantage.
- Forecasting supply chain changes. No business operates in a vacuum. Changes in the geopolitical landscape, weather, labor market, and more can all impact the supply chain and put your business at risk. Market intelligence provides advance notice of potential supply disruptions.
These are a few of the ways that businesses and professionals use market intelligence. Often, a business will invest in market intelligence to address specific challenges, such as navigating regulatory changes, enhancing marketplace visibility, or exploring market forces in greater depth. However, most companies will quickly see the additional benefits of market intelligence reports.
Evaluating the Options for Market Intelligence and Reports
Beyond just constant business research, which can be problematic, you have options when it comes to acquiring market intelligence. The option you invest in should depend on your business requirements, the value you place on the market intelligence, and the business needs. These options include customized market reports, standardized industry reports, and a complimentary intelligence summary.
The Advantages of Customized Market Reports
A market intelligence report is useful and actionable only if it has relevant content.
No two companies have the same market intelligence needs. To build a customized market report, a company must consider its industry, supply chain network, and unique operating model. These factors should determine the intelligence needed.
Large companies with multiple business units benefit from bespoke services that offer market intelligence customized to the needs of each operating unit. For example, the R&D team may receive updates about innovations and technological advancements from potential partner companies. They may also need public policy data on the changing regulations covering hazardous materials. Meanwhile, the supply chain management team needs information on sustainable sourcing policies or tariff announcements, which is essential for vetting suppliers.
The Advantages of Standardized Market Reports
While large corporations often rely on customized market intelligence reports due to their diverse markets and multiple end-uses for their products, smaller companies that have simpler organizational structures and less need for complex industry positioning may not require such tailored solutions. Standardized, off-the-shelf market reports can fill their need.
Typically, pre-built market intelligence reports are industry focused. These off-the-shelf reports cover a standard set of companies and business drivers important to the specific industry.
For instance, a packaging market report offers news about the top packaging manufacturers, packaging machine providers, the latest innovations in packaging materials, consumer sentiments about packaging designs, and public policy updates that impact recycling and producer responsibilities.
Getting Started with Free Market Intelligence Reports
What if your company isn’t quite ready to invest in paid market intelligence? In this situation, a free market report provides decision-makers with a high-level overview of general market conditions without any financial investment.
A high-quality free market report gives professionals in any industry a snapshot of key market events. The report highlights the transformative changes that every business leader should know about. It delivers the foundation of the market information found in paid solutions. Paid solutions dig deeper, providing more detailed or industry-specific perspectives. But, if the investment in customized or standardized reports isn’t needed, then the snapshot view of broad business trends provided by the free report is invaluable for receiving general market intelligence and staying on top of key changes.
The Executive Summary by Industry Intelligence Inc. is a free market intelligence report that offers a transformative approach to market monitoring. It is designed for businesses tight on budget and decision-makers short on time.
What Is the Executive Summary?
The weekly Executive Summary report features executive insights and key market headlines across a broad spectrum of industries. The report is curated by a team of experienced business editors and enhanced by cutting-edge AI technologies. It provides information on:
- Disruptive Innovations: Breakthroughs that have the potential to significantly alter the landscape of an industry by introducing simpler, more affordable, or more accessible alternatives to existing products or services.
- Transformation Trends: A brief look at market forces that drive societal, technological, or economic changes.
- Executive Commentaries: A glimpse into leadership best practices and the strategic thinking behind major corporate decisions.
- Expert Analyses: Insights on market trends and future opportunities ripe for capitalization.
- U.S. Economic Trends: The latest macroeconomic data and economists’ insights synthesized into analysis that enables decision-makers to anticipate what lies ahead.
Small business teams or individual professionals can benefit from this complimentary report to understand market transformation dynamics before they invest in paid market intelligence services that provide more depth. Large enterprises might use this tool for quick insights to complement paid solutions that offer specific analyses essential for their strategic decision-making.
In just two minutes a week, subscribers have a market overview and critical business insights that provide actionable intelligence for problem solving or sparking new ideas.
Introducing Industry Intelligence Inc.’s Business Solutions
Industry Intelligence Inc. has 24 years of experience in designing bespoke solutions containing in-depth market analysis as well as standardized reports for agribusiness, building and construction, carbon credits trading, chemicals, forest products, packaging, pulp and paper, pharmaceuticals, retail, food and beverage, and other fast-moving consumer packaged goods sectors.
To explore our full range of market intelligence solutions, contact us today at Info@industryintel.com for a consultative demo. Tell us about your business challenges and we will show you the right solution.
You can also start with a no-obligation subscription to the FREE weekly Executive Summary. To sign up, visit https://www.industryintel.com/free/executive-summary and begin your market intelligence journey with Industry Intelligence Inc.
