Understanding Market Intelligence for Business Success
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Questions and Answers

What is the importance of understanding why a customer is unhappy?

It can avert customer loss by examining consumer improvement needs and understanding customer lifetime value.

How can a corporation gain a competitive edge in the market?

By understanding the market, which helps them understand customers, trends, and behaviors.

How can market intelligence help businesses with multiple products and clients?

It helps segment the market, allowing companies to identify which products would succeed with certain groups.

What are the benefits of market intelligence in terms of process efficiency?

<p>It helps firms enhance efficiency and productivity by discovering gaps, providing actionable insights, and providing real-time data and analytics.</p> Signup and view all the answers

Why is it essential for businesses to understand customer behavior and trends?

<p>It helps them stay competitive and meet market demands.</p> Signup and view all the answers

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