The report, compiled by Prof Peet Venter (Department of Business Management), Prof Johan Strydom (Department of Business Management), Prof Mari Jansen van Rensburg (Department of Business Management) and Prof Deon Tustin (Bureau of Market Research), focuses on the use of MI by South African companies.
According to Venter, the relevance is based on an increasingly competitive business environment that requires sound MI in support of sustainable development goals for South African businesses. The scope of the research project focuses on the collection, processing, distribution (contents and format) and usability of MI in South African business organisations. The study measures the satisfaction of its users with its the current value to business.
In terms of providing businesses an opportunity to evaluate their own MI status and capacity in relation to the broader market, the study also explores contemporary MI practices and processes, as well as relevant MI tools and functions applied in practice. Overall, the research aims to provide practical information on the value of MI and how it can potentially improve business in South Africa.
According to Jansen van Rensburg, the MI study among 300 companies mainly operating in Gauteng revealed that the biggest intelligence gaps relate to marketing information regarding customers and competitors. She states that the most important information tools currently utilised by South African businesses include those that they have the most control over, namely MI, competitive intelligence, market segmentation, customer relationship management (CRM) and marketing research surveys. Jansen van Rensburg also confirms that the study affirms the value of MI to South African business that shows high commitment towards improved financial investment in MI in the immediate future.
Strydom also confirmed that strategic marketing practices are fundamental to organisation's marketing effort and that key metrics such as profitability, market share, brand equity, long-term shareholder value and customer metrics (eg. customer satisfaction and commitment) nowadays form a significant part of management decision making. Strydom substantiate that the study shows a direct link between financial performance and the use of strategic marketing which confirms the value of the use of strategic marketing in South African business.
The report (No 411) is available from the BMR.
