Competitive Intelligence
Competitive intelligence is the process of defining, gathering, analyzing, and distributing intelligence about products, customers and competitors to support senior management in making better strategic decisions for an organization.
Organizations use competitive intelligence to compare themselves to other organizations (“competitive benchmarking”), to identify risks
and opportunities in their markets, and to test their business plans against different market response scenarios. Most firms recognize the importance of knowing what their competitors are doing and how the industry is changing. Information gathered allows organizations to assess their own strengths and weaknesses relative to industry competition.
Actionable Intelligence is the primary deliverable produced from Competitive Intelligence activities. The focus is on providing information designed to improve short term operations and profitability.
The typical project scope focuses upon:
- identification of the client’s top industry competitors
- Analysis of competitor trends regarding: profitability, margins,
market share, product mix, product cost, and growth
- Key benchmarking metrics regarding trends in margins, pricing,
market share, product costs, and sales and marketing costs
- Competitor Emerging Growth Trends
- Optional: Client and key competitor customer Focus Groups
- Optional: Customized client focus areas
