What is Competitive Intelligence?
Posted July 20, 2018| Fuld + Company
It is an essential component to developing a business strategy. CI analysis provides insight into marketplace dynamics and challenges in a structured, disciplined, and ethical manner using published and non-published sources.
- Incorporates external competitive and market forces into strategic planning
- Generates strategically relevant insights from research and structured analysis
- Enhances marketing, strategic planning, finance, and operations
- Conforms to antitrust and trade secret laws, legal and ethical best practices and the client’s corporate code of behavior
- Minimizes decision risk and reduces uncertainty about external developments
Uses of Competitive Intelligence:
- Develop corporate or business unit strategies
- Shape counter-competitive strategies against one or more competitors
- Prepare a new product launch, new market entry, or other strategic move in the market
- Benchmark other organizations
- Anticipate and plan for future market opportunities and disruptions
- Assess effectiveness of competitors market positioning and product messaging