Order the forms of market intelligence

Order the forms of market intelligence
benefits. For example, when people join a health club, some are buying a lifestyle,
some are buying social interaction, and others may be buying fitness. The products
and services offered in the marketplace are constantly changing but basic buying
motives such as health, beauty, safety, comfort, convenience, enjoyment and economy
change very slowly.
Using the health club example, what can be offered to people who only have time
to work out in the evenings or have children to look after? The business may open at
times that are convenient for them, and perhaps organise a crèche facility, thereby
offering a benefit that appeals to their basic buying motives.
As well as understanding customers’ buying motives, we can ascertain more infor-
mation using a simple form of market intelligence. Using certain questions we can
uncover vital information to assist in the growth of the business by understanding our
customer demographics:
Who uses the product or service?
decides to make the purchase?
actually makes the purchase?
buys from me?
buys from the competitor?
Where is the product or service used?
do customers find information?
do customers decide to buy?
do customers actually buy?
are the potential customers located?
What benefits does the customer want?
is the basis of comparison with other products or services?
is the rate of usage?
price are customers willing to pay?
is the potential market for the product or service
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