In the defense industry Market intelligence is key commercial data — relevant to a company’s current and new markets — gathered and analyzed by true regional experts specifically presented for the purpose of providing accurate and confident decision-making moves in strategic areas such as current / active market opportunities, recommended market penetration strategies, and suggested market / business development activities.
With the inflow of a huge volume of confusing marketing data – with most of that information being probably false and timely created by your competitors — comes the need to handle it better. Accordingly, you MUST find that business opportunity and those military clients’ several months ahead of your competitors, promote your brand and create purchasing preference. The need for an effective data management tool (or an elite group of Latin American market intelligence advisors) had never been so significant.
Market intelligence requires the recruitment / contracting of an “in house” full-time international expert at a cost of $250,000 dollars per year between his/her salary plus international travel or… hiring independent intel contractors for a fraction of that price. The purpose of incorporating Market intelligence into the Business Intelligence process is to provide senior decision makers (i.e; the management team of the company) with a more complete “true picture” of ongoing corporate performance in a set of given market conditions usually at the international level, meaning… you must get out of your comfort zone and go beyond conventional research. For instance, some of the key questions to be answered by your Market Intelligence advisors are:
– What will the market size be in 2022-2024 and what will be the growth rate?
– Which countries will buy my products and what are the key market trends?
– What is driving the market with the Brazilian Army Jungle brigades?
– What are the challenges to market growth in Colombia?
– Who are the key vendors in this market space?
– What are the market opportunities and threats faced by other key vendors?
– What are the strengths and weaknesses of my company and products in Mexico?