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Market Sensing Today by Constantinos-Vasilios Priporas, Melvin Prince

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CHAPTER 3

Market Sensing andCompetitive IntelligenceSystems

Son K. Lam

Department of Marketing, Terry College of Business, Universityof Georgia, Athens, GA 30602, United States

Introduction

Market sensing is central to the implementation of the marketing concept. This process involves scanning, interpreting, and responding to information pertaining to multiple stakeholders, including but not limited to customers and competitors.1 This chapter is focused on competitive intelligence as an important part of organizational market sensing. Firms can have different approaches to competitive intelligence, from an ad hoc basis to a comprehensive system.2 Unfortunately, marketers often confuse competitive intelligence with market research. Furthermore, ...

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