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The Importance of Intelligence in Industrial Marketing | Manufacturing Marketing

The Importance of Intelligence in Industrial Marketing

industrial marketing

Know and understand your company (self) and your market (others) to succeed.

INTELLIGENCE

(1) : the ability to learn or understand or to deal with new or trying situations : reason;

also : the skilled use of reason

(2) : the ability to apply knowledge to manipulate one’s environment

Intelligence is not the capacity but the application.

The first form of intelligence is self-awareness.

This is awareness of individualityy – what makes your company different. This is the foundation of any industrial marketing program.

The ability to learn or understand is the exercise of intelligence in determining differences. Different includes both your products and your company itself. The answers to the question of differences should be carefully researched and must be honest. Shortcomings are as important to know as strengths.

To be self-aware is to know your company and your product strengths and weaknesses.

The second form of intelligence is awareness of others.

In this context, awareness of your competitors and your chosen marketplace.

In the definition above, the ability to manipulate one’s environment requires both awareness of self and of others. How your company and products are different requires comparison; with competitors, and with the problems and solutions necessary for your marketplace – your environment.

To manipulate your industrial environment requires planning. What do you want to achieve? Increased sales in a mature market, targeting a new market with an existing product or introducing a new solution to a new market – nothing happens without a plan.

Set a specific goal within a specific market so that the steps necessary to get there become apparent. The skilled use of reason, intelligence, is possible once a plan exists.

Awareness of others; your prospects, customers and competitors, is critical to intelligent planning.

Measurement of the relative successes and failures of your plan allows for modification. Every step taken is effected by your environment and will move you closer to or further from your goal. Awareness of the marketplace, the environment, allows for assessment as the market reacts.

We live in the information age. Information is widely available about your industrial products, as well as your competitor’s. Information in and of itself is not intelligence. Understanding information in the context of your environment and your strategic plan is crucial to intelligence as it is the basis for awareness. Information is necessary to determine differences.

Research to find true information about your company and your chosen environment. This information fosters awareness, which in turn leads to goal setting and planning. Welcome to industrial marketing.

photo credit: Lotus Carroll via photopin cc

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