Competitive Intelligence: Conceptualising its evolving useas a strategic marketing management tool in Zimbabwe
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Date
2022
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International Journal of Advanced Multidisciplinary Research
Abstract
Live Competitive intelligence (CI) as practiced today has developed into an applied professional business discipline and has evolved to become a worldwide strategic business management tool. The current descriptive survey study sought to investigate the evolving use of CI in Zimbabwe as a strategic marketing management tool. The study took into account that the application and practice of CI by firms in Zimbabwe is a matter of choice as it is not a product of any legislation and therefore there are no legal penalties imposed on those firms which do not apply any one of its principles. The study deliberately chose to focus on the manufacturing firms. A sample of sixty marketing managers was chosen from a population of two hundred and fifty (250) manufacturing firms who are members of the Confederation of Zimbabwe Industries (CZI). The sample was selected using stratified random sampling. Data was collected through the application of a self-administered questionnaire supplemented by the use of both structured and unstructured interview schedules. These data collection instruments were designed such that they generate both qualitative and quantitative data. The major finding of the study was that marketing managers in the manufacturing firms of Zimbabwe have a clear understanding of the strategic importance of CI to both firms and marketing departments. In addition the study observed that firms generally do not allocate adequate resources to intelligence gathering with the majority allocating far less than the world wide recommended minimum of USD300000 CI budget per annum. The study also revealed that the country general lacked appropriately trained CI professionals. It was therefore recommended that firms should create stand alone, well funded and staffed by qualified personnel CI departments which will continuously gather intelligence for use in strategic marketing management processes.
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Bulisani Ncube and Mlisa Jasper Ndlovu. (2022). Competitive Intelligence: Conceptualising its evolving use as a strategic marketing management tool in Zimbabwe. Int. J. Adv. Multidiscip. Res. 9(3): 38-51. DOI: http://dx.doi.org/10.22192/ijamr.2022.09.03.004