Competitive Intelligence

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Description of Competitive Intelligence. Explanation.

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  2. Forum
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Definition Competitive Intelligence. Description.


Competitive Intelligence is the selection, collection, interpretation and distribution of strategic information regarding the competitive environment in which a firm operates. It is the analytical process that transforms disaggregated competitor intelligence into relevant, accurate and usable strategic knowledge about competitors, position, performance, capabilities and intentions


Having reliable information available is crucial for describing the market in which a firm operates, analyzing the competition, forecasting future developments, adjusting to changing market circumstances.


Typically, the information is gathered from current and former employees or customers of the competitors, suppliers, shareholder meetings, annual reports, industry associations, journals, magazines, websites, research studies, and from specialized providers.


Analysis of Competition

To achieve a competitive advantage, by definition you must know what your competitors are currently doing and what they will be doing in the future.

Indications of what are the competitors plans may be obtained in the following ways:

  1. Comparison of objectives of competitor with their currents results. A difference between desired and achieved market share leads to an expected growth strategy.
  2. Application of a portfolio analysis to the competitor. If a competitor uses a portfolio analysis, the company can perform its own analysis and deduce the competitors most logical portfolio decision.
  3. Determining the importance of a product for the competitor.
  4. Studying the competitor's use of the marketing mix over time. For example, if a competitor reduces prices and on the other hand increase its advertising expenses this may indicate that the company is pursuing growth.
Competitive Intelligence Forum
  Strategic, Competitive and Business Intelligence
During my course Advanced Strategic Management at the University of South Africa (UNISA), I learned that in order for organizations to come to their strategic decisions, they have to practice their strategic intelligence systems and then come ...
     
 
  What is Competitive Intelligence? Definitions
Definitions of competitive intelligence:
- CI is the collection and analysis of information regarding the capabilities, vulnerabilities, and intentions of business competitors, conducted by using information databases and other "open sources", t...
     
 
  Creating a Simple Marketing Information System
Does anybody have experience to set up a "low profile" marketing information system? Me is given the challenge to build up such a system without spending on new software.
The question is: how to translate market info into knowledge. We ma...
     
 
  Collection Phase in Competitive Intelligence
Collection phase in competitive intelligence:
1. Passive intelligence - osint
2. Semi active intelligence - elicitation through telephone and email
3. Active intelligence - humint....
     
 
  Conditions for Competitive Intelligence
It's crucial to:
- Have top-management's full support
- Define the system based upon company strategy
- Assure that all the resources are secured
- CI must be running round-the-clock....
     
 
  Data Gathering Methods for Competitive Intelligence
I would add to the list of data gathering methods:
1) mystery shopping with all its aspects
2) test customer panel....
     
 

Competitive Intelligence Special Interest Group


Special Interest Group

 

Best Practices - Competitive Intelligence Premium

Expert Tips - Competitive Intelligence Premium
 

The 5 Steps of the Competitive Intelligence Process

Competitive Intelligence is important as it helps organizations to stay competitive. Companies can use five steps that together form the competitive i...
Usage (application): Competitive Intelligence, Competitive Intelligence Steps
 
 
 

3 Steps in Solving Problems with Data Credibility

The problem of data credibility
Data credibility problems have been existed for many years. Due to this credibility problem, knowledge wor...
Usage (application): Improving Data Reliablility, IT, Business Intelligence
 
 
 

The Role of Competitors in Strategy and Business Failures

Gilad (2014) researched in what way and to what extent competitors do matter. Many people believe that competitors are often the main source of busine...
Usage (application): Competitive Strategy, Competitive Environment, Competitive Intelligence, Industry Analysis
 
 

Resources - Competitive Intelligence Premium

Managing Competitive Intelligence

Presentation that gives an introduction into Competitive Intelligence: definition, its usage, its process and best practices. The presentation include...
Usage (application): Competitive Intelligence, Business Intelligence
 

Competitive Intelligence and Intellectual Property

This presentation elaborates on competitive intelligence especially by relating it to intellectual property. The presentation includes the following s...
Usage (application): Competitive Intelligence, Intellectual Property
 

The Competitive Intelligence Process

This presentation elaborates on competitive intelligence and particularly on the competitive intelligence process. The presentation includes the follo...
Usage (application): Competitive Intelligence Process Steps
 

Interview Porter: How to Apply the Five Forces Framework?

Interview Michael E. Porter, Professor at Harvard University on The Five Competitive Forces That Shape Strategy. Topics:
- Can you apply the 5 fo...
Usage (application): Applying the 5 Forces for Fundamental Industry Analysis
 

Using Big Data for Competitive Advantage

Presentation about unstructured consumer information, or Big Data. Big Data if processed correctly - can give companies great insights about their c...
Usage (application): Customer Analysis, Data Management
 
 

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Compare with: Scenario Planning  |  OODA Loop  |  Art of War (Sun Tzu)  |  PEST Analysis  |  SWOT Analysis  |  Strategic Fit  |  Business Intelligence  |  Benchmarking  |  Oligopoly  |  Competitive Pricing  |  Barriers to Entry  |  Market Segmentation  |  Positioning  |  Sustainable Competitive Advantage

Special Interest Group Leader

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This ends our Competitive Intelligence summary and forum.

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