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Marketing Intelligence and Its Importance
Competitive Intelligence and Analysis
Definition
As suggested by Chen, Chau, and Zeng (2002), The goal of Competitive Intelligence (CI), a subarea of Knowledge Management, is to monitor a firms external environment to obtain information relevant to its decision-making process (p. 1). In this respect, competitive intelligence is the analysis of the environment in which the company operates to gain more information and be more competitive in terms of applying the acquired data to the marketing decisions and performance of the company. Analysis of the environment can contribute greatly to the effectiveness of decisions made to advertise a specific product.
Explanation
As competitive intelligence presupposes not simply an analysis of the environment and market research but collecting of information that would leave the competitors behind, it is necessary to analyze the environment about competitors and their actions to succeed in the market. As every company wants to operate effectively, managers must decide which new markets to penetrate, which products to introduce, and which new business opportunities to pursue (Hair et al., 2010, p. 4). Besides, it is necessary to have valid information to make such decisions.
Advertising Campaign
Pepsi
Pepsi is one of the leading companies in the world that produce beverages and different types of drinks. In this respect, I decided to research the Pepsi advertising campaign that took place some time ago and featured football stars from the leading teams. This campaign was aimed at meeting closer to football stars and Pepsi heroes of contemporary young people. In other words, I wanted to see how Pepsi Corporation managed to use its competitive intelligence and analysis for one of its most effective advertising campaigns.
Football stars
Such football players as Cesc Fabregas, Lionel Messi, Frank Lampard, Thierry Henry, David Beckham, and Ronaldinho were featured in the advertising campaign. I believe that this ad was aimed at showing young people that one can make the dreams come true if he/she wants that. Besides, an active lifestyle was used in combination with images of celebrities. As no person in the world would watch TV and did not know who these famous football players are, it was rather effective to present them as heroes of the contemporary period.
Advertising: Features
Attention-grabbing techniques
This advertising campaign grabbed my attention because it was full of adventure and one could imagine the world full of danger and heroes who always know what to do and how to act in this or that situation. A solution to the problem can always be found with Pepsi this is what this advertisement suggested. As there were six football players, six videos were created featuring one of the players in unique roles resembling well-known images used in the movies about Indiana Jones and James Bond.
Target market
The target market of the Pepsi advertising campaign was the young people who wanted to succeed in life, achieve certain progress, and become real heroes for themselves and others. A refreshing non-alcoholic beverage was designed to meet the needs of people who usually drink such products: Sportsmen, students, those who have an active lifestyle, and those who want to feel refreshed in hot weather. In other words, the Pepsi corporation felt the need for heroes and adventures and used famous football players to attract more people to this concept of an active lifestyle and heroic actions.
CI for the Ad
The way of gathering
Competitive intelligence was gathered through observation and research. Besides, the previous campaign of this corporation was aimed at identifying the features of members belonging to Pepsi generation as opposed to the new one when the heroes of the generation are presented and everyone can follow the way chosen by outstanding football players.
The way of incorporating
The competitive intelligence was incorporated with the help of engaging the famous and successful football players in different video advertisements by making them real heroes by playing the roles of James Bond and Indiana Jones. This CI left the competitors of Pepsi behind due to active spirit and the latest tendencies used in the campaign.
Marketing decision-making process
The marketing decision-making process depends directly on the competitive intelligence and analysis of the situation in the market, in the world, the latest tendencies in related fields, and strategies applied by competitors. So, the popularity of football players and their ability to influence the tastes and preferences of young people were used by the decision-makers of Pepsi.
BevCo
Survey for analyzing needs and preferences of customers
As BevCo is a manufacturer of ergonomic seating, it is necessary to trace the needs and preferences of customers who buy such furniture with the help of a survey. Analysis of regular customers expectations, suggestions, and desires would help to design new models and gain more customers.
Web survey aimed at collecting intelligence
Web surveys performed with the help of the CI Spider can be a helpful tool for gathering competitive intelligence using modern technologies. Besides, informing potential customers through web ads can be more effective because this is a segment of the target market for ergonomic chairs.
Research on quality-cost-design ratio
Quality, design, and cost of products designed by competitors can become a real tool for making decisions based on competitive intelligence while evaluating their advantages and drawbacks. Besides, the analysis of standards on quality and safety should be used to foresee changes in standards and meet those and be competitive compared to the companys rivals.
Reference List
Hair, J., Wolfinbarger, M., Ortinau, D., and Bush, R. (2010). Essentials of marketing research. New York, NY: McGraw-Hill Irwin.
Chen, H., Chau, M., and Zeng, D. (2002). CI Spider: a tool for competitive intelligence on the Web. Decision Support Systems, 34, 1-17. Web.
Appendix
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