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Importance of Competitive intellegence in marketing

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2. What is competitive intelligence? What is the importance of competitive intelligence and analysis in today's marketing?

3. Define the four market segmentation variables (geographic, demographic, psychographic, and behavioral) and describe how they impact your organization's (or one you are familiar with) marketing strategy?

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1. Competitive intelligence simply refers to the coordination and monitoring of the competitors and to gain a good understanding of whom and where the competitors are in the market place. The competitive intelligence also has to do with what a company will do and basing the acts of the company on the possible steps of the competitors. Aurora WDC explains, "Strategically, to gain foreknowledge of your competitor's plans and to plan your business strategy to countervail their plans. As ...

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