Competitive Intelligence

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Summary

What is Competitive Intelligence? Meaning.

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.


It is very important for companies to have reliable information about the market in which it operates. Such information can allow it to:

  • Analyze the competition
  • Forecast future market developments
  • Adjust to changing market circumstances
  • Etc.

Sources of Competitive Intelligence Information

Typically, such market 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, mystery shopping, test customer panels, focus groups, and from specialized providers (research firms).


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.
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What is Competitive Intelligence? Definitions
Definitions of competitive intelligence: - CI is the collection and analysis of information regarding the capabilities, (...)
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🔥 NEW Strategic Intelligence, Competitive Intelligence and Business Intelligence
During my course Advanced Strategic Management at the University of South Africa (UNISA), I learned that in order for or (...)
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Collection Phase in Competitive Intelligence
We can distinguish 3 type of activities in the collection (gathering) phase of competitive intelligence: Passive Int (...)
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Conditions for Competitive Intelligence
It's crucial to: - Have top-management's full support - Define the system based upon company strategy - Assure that a (...)
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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 (...)
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Best Practices

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The 5 Steps of the Competitive Intelligence Process

Competitive Intelligence, Competitive Intelligence Steps
Competitive Intelligence is important as it helps organizations to stay competitive. Companies can use five steps that t (...)

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The problem of data credibility Data credibility problems have been existed for many years. Due to this credibility pro (...)

The Role of Competitors in Strategy and Business Failures

Competitive Strategy, Competitive Environment, Competitive Intelligence, Industry Analysis
Gilad (2014) researched in what way and to what extent competitors do matter. Many people believe that competitors are o (...)
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Various sources of information regarding Competitive Intelligence. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.


Managing Competitive Intelligence

Competitive Intelligence, Business Intelligence
Presentation that gives an introduction into Competitive Intelligence: definition, its usage, its process and best pract (...)

Competitive Intelligence and Intellectual Property

Competitive Intelligence, Intellectual Property
This presentation elaborates on competitive intelligence especially by relating it to intellectual property. The present (...)

The Competitive Intelligence Process

Competitive Intelligence Process Steps
This presentation elaborates on competitive intelligence and particularly on the competitive intelligence process. The p (...)

Interview Porter: How to Apply the Five Forces Framework?

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

Using Big Data for Competitive Advantage

Customer Analysis, Data Management
Presentation about unstructured consumer information, or Big Data. Big Data if processed correctly - can give companie (...)
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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

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