Which statement best describes the difference between market research and market intelligence?

• A. Market research collects specific data on consumer behavior; market intelligence uses ongoing information and competitive insights.
• B. Market intelligence collects ongoing competitive insights and broad market trends.
• C. Market research relies on internal company data only.
• D. Market intelligence relies solely on internal data.

Answer: (A)

Market research answers specific questions about customers and their behavior for a defined purpose, using planned data collection like surveys, interviews, or experiments. It’s typically project-based and provides a focused snapshot of consumer attitudes, preferences, or demand for a product or service.

Market intelligence is an ongoing process that continually gathers and analyzes information about the external environment—competitive actions, market trends, regulatory changes, and other outside factors. It blends various sources to give a steady stream of insights that inform long-term strategy, not just a single project.

That’s why the best description is that market research collects specific data on consumer behavior, while market intelligence uses ongoing information and competitive insights. The other options are off because market research isn’t limited to internal data, and market intelligence isn’t restricted to internal data either.