An analysis of an article on competitive intelligence

To get more data or information, it may be necessary to collect it personally, by way of observations, interviews or other kinds of primary research. It might also indicate a new pricing strategy such as penetrationprice discriminationprice skimmingproduct bundlingjoint product pricing, discounts, or loss leaders.

What do we already know? The actual time horizon for SI ultimately depends on the industry and how quickly it's changing. The most common sources of new competitors are: Other sources of corporate intelligence include trade shows, patent filings, mutual customers, annual reports, and trade associations.

This is what makes competitive intelligence ethical and legal daring to be unethical is not just uncalled for but can also result in harsh consequences.

Promotion — what activities are they conducting for promoting this product? Knowing more about your competitors will allow your business to grow and succeed.

Organizations compare annual reports of their competitors on certain KPI and ratios, which are intrinsic to their industry. CI shares some aspects of KM; they are human-intelligence- and experience-based for a more-sophisticated qualitative analysis.

Organizations must be careful not to spend too much time and effort on old competitors without realizing the existence of any new competitors.

True ambiguity — A number of uncertainty dimensions cause difficulty in delineating a variety of outcomes. Graphs Graphs are strong instruments in which trends can be easily shown and recognized. The conclusion of this model is that, in a cutthroat market, the unit price for a specific good would change until it stays at a point where the quantity demanded by consumers at the present price is the same as the quantity provided by producers at the present pricethereby creating an outcome of economic equilibrium for quantity and price.

Place — where are they selling this product?

Competitor analysis

For additional insights, it should be done along with the TOWS matrix. The further intelligence that results would also be passed on to others in the company who can put it to use.

Critical success factor analysis This model looks at the goals a business must satisfy so as to succeed. The conclusion of this model is that, in a cutthroat market, the unit price for a specific good would change until it stays at a point where the quantity demanded by consumers at the present price is the same as the quantity provided by producers at the present pricethereby creating an outcome of economic equilibrium for quantity and price.

This is what makes competitive intelligence ethical and legal daring to be unethical is not just uncalled for but can also result in harsh consequences.

There are obviously many viewpoints to perceive an ethical code for CI. Knowing more about your competitors will allow your business to grow and succeed. As mentioned before, it is worth remembering that competitive intelligence is fully justified as long as it conforms to ethics and the law.

Keep watch for trigger points. Product — what are people selling? Analysis and production Analysis, synthesis, and distillation are at the core of CI, where distinct bits of information are converted into actionable intelligence.

One of the major activities involved in corporate competitive intelligence is use of ratio analysisusing key performance indicators KPI. There are several reasons why this should be done. Knowledge management KMwhen improperly achieved, is seen as an information-technology driven organizational practice relying on data mining, corporate intranets and mapping organizational assets to make it accessible to organization members for decision-making.

Similar fields[ edit ] Competitive intelligence has been influenced by national strategic intelligence. A formalized competitor analysis and competitive intelligence program can: Taking it a step further, when the CI practitioner is for instance playing a role as costumer and tries to negotiate about prices, it is a misrepresentation by commission.Leveraging patent landscape analysis and IP competitive intelligence for competitive advantage.

Competitive intelligence is the act of collecting and analyzing actionable information about competitors and the marketplace to form a business strategy.

Competitor analysis

. Exploring the use of PICOTS in value analysis decisionsNonprofit · Evidence-based · Healthcare Research · Since An effective competitive analysis requires selecting the right companies to compare, and analysing relevant aspects of their organization, their customer acquisition process, and their products.

Analysis is often where the ball drops as far as competitive intelligence analysts are concerned. Yet this is the only way the team can truly extract insights from the data and the intelligence gathered, and have a chance to play a role in the company’s strategic planning process.

Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.

Competitor Analysis and Competitive Intelligence

This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. How to Use Competitive Intelligence to Develop Winning Business Strategies.

Competitive Intelligence

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An analysis of an article on competitive intelligence
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