Marketing Intelligence in the Era of Open Innovation

Valentina Chkoniya
Universidade De Aveiro

Abstract

Digital growth has led to a dramatic increase in data sources for marketing intelligence. Facing instability and uncertainty in the era of dynamic challenges in knowledge-driven societies, companies ought to provide a constant stream of innovations to clients. The challenges are too ambitious to tackle in isolation, and thus a new approach is necessary. Since customer orientation requires an in-depth understanding of the needs of the decision-makers that should be supported through intelligence work, Open Innovation (OI) can be a part of the solution. OI covers two dimensions: the flow of knowledge obtained from outside and processed within the organization and has a role as key business responsiveness to prevent any risks that can occur. From this knowledge, it is possible to design successful strategies and transform them into action. This paper gives an overview of the possible contributions of OI to respond to the challenges of Marketing Intelligence. Showing that facing increasing open innovation trends, it is vital not to be driven by the technology perspective alone, but to add the marketing perspective to properly estimate the business potential of each initiative. This synthesis of current research aims to assist and inspire effective marketing strategy, as well as to provide valuable insights for both practitioners and researchers in consumer behavior.


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