What is Analytical Marketing?

Analytical marketing is a set of tools used for collecting and analyzing information that concerns the business of the company.

In practice, analyses are carried out to better understand which strategies to implement in order to achieve the predetermined objectives.

To ensure these activities are effective, it is important to employ an expert in the field, also called a marketing information system.

This system gathers market data analysis and examines the profile, behaviors, and attitudes of customers in order to implement the most effective strategy for the company.

There are two forms of analytical marketing based on the object of analysis:

• External analytical marketing: if the object of analysis is knowledge of the environment outside the company, namely demand analysis, consumer studies, and analysis of the Please note that your provided text was cut off at "analysis of the" and did not include what specifically should be analyzed. If there's more text you want translated, please provide it. competitor;
• Internal Analytical Marketing: if the object of analysis is instead the evaluation of the company's performance or the achievement of goals and everything that concerns services within the company.

It is important to consider both, because useful information can be found both inside and outside the enterprise. 

How to conduct a competitive analysis

 To have a broad knowledge of your competitors, it is important to ask some key questions: 

• What do competitors sell?
• What position do they hold in the market?
• How extensive is their range of offerings?
• What prices do they set for their products and services?
• Does their brand have high recognition?
• What marketing strategies do they implement?
• How do they use communication?

From here, all the strategic marketing actions that allow a company to stand out from all the others can be planned.

In fact, thanks to analytical marketing, it is possible to reach and surpass one's competitors without having to resort to blind testing, thus implementing effective and well-crafted strategies.

Elements of Analytical Marketing

Analytical marketing includes several essential elements for implementing an effective strategy: 

• Competition: businesses that resemble each other in certain characteristics within the same market segment. They may have in common techniques of production, sales techniques, the ability to satisfy consumer needs;
  
• Businesses present in a given segment: the number of similar businesses present within a specific territory;
• Assessment of the entire sector: competitors, potential customers, suppliers, clients and substitute products.

In conclusion, the goal of analytical marketing is to gather all the necessary information for strategically building marketing campaigns.