Mkt_675_milestone_3.docx Milestone Three: Recommendations MKT 675 Southern New Hamps

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Mkt_675_milestone_3.docx Milestone Three: Recommendations MKT 675 Southern New Hampshire University Competitive Intelligence œCompetitive intelligence, sometimes referred to as corporate in... telligence, refers to the ability to gather, analyze, and use information collected on competitors, customers, and other market factors that contribute to a business's competitive advantage (Bloomenthal, 2020). Merck needs to be aware of this and consider the global competitive intelligence information whenworking with foreign entities and commerce. The internet has effectively leveled the playing field in the ability to have equal information than ever before (Park, n.d.). The very definition of competitive intelligence would indicate that the assembly of actionable information obtained ethically would afford the company the ability to respond to problems more efficiently. Merck needs to also understand their competitive environment and the opportunities and challenges, utilizing it to create effective and efficient practices (Bloomenthal, 2020). Integration with other resources allows better Competitive intelligence that the company has at its disposal. Things such as primary market research, secondary data research, and epidemiological information provide a more holistic view of the market allowing them to anticipate an outcome. Tracking the science as well as a specific product, especially if several companies are developing products for a particular condition in the same time frame ensures a comp. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]

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