Method of estimating the revenue potential of an industrial market by identifying the number of potential buyers in the market and the purchase requirements of each. The source of the data may be published sic coded data, primary research like questionnaires or surveys, or sales history. In the absence of actual purchase data, the annual revenue or number of employees of a buyer may be used to estimate their purchase requirements by assuming their requirements are the same as those of customers with similar revenues or numbers of employees.
Information acquired by a market competitor about the companies with which it competes. Competitive intelligence might include pricing, advertising strategies, names of clients, technical advantages and disadvantages, market strengths and weaknesses, and so forth. Competitive intelligence may be acquired from the competitor's customers (current and former), suppliers, former employees, stockholder meetings, industry associations and trade shows, trade journals, newspaper articles, research studies, or advertising copy.
When gathering intelligence, the marketer must be careful to avoid unethical or illegal methods such as using a job interview or bribery to elicit information from a competitor's employee. The marketer's sales force is usually a prime source of competitive intelligence and should be trained to recognize and report this information.
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