competitive intelligence

Examples of competitive intelligence in the following topics:

• Summary and references

  • "Measuring competitive intelligence effectiveness: Insights from the advertising industry".
  • Competitive Intelligence Review; Volume 12, Issue 4: 25 – 38.
  • "Competitive intelligence revisited: A history, and assessment of its use in marketing".
  • Competitive Intelligence Review, 5, 4: 23-31.
  • Competitive Intelligence Review, 10, 2: 52-6.

• Competitive Intelligence

  • Competitive Intelligence (CI) is a hybrid process of marketing research and strategic analysis that can give companies a competitive advantage.
  • An example of competitive intelligence is when a food and beverage company conducts primary research to find out about the latest trends in the beverage industry of a foreign country.
  • Competitive Intelligence (CI) in marketing research involves defining, gathering, analyzing, and distributing information about products, customers, and competitors and any aspect of the environment needed to support executives and managers in making strategic decisions for an organization.
  • Although the term CI is also considered synonymous with competitor analysis, competitive intelligence extends beyond analyzing competitors.
  • There are many synonyms for competitive intelligence such as business intelligence, market intelligence, and corporate intelligence.

• Introduction

  • Chances are competition for your firm's product is already well established.Other firms can be in direct competition with you when they offer a similar product and target the same customers.They can be indirectly competing with you by offering a similar product or service, but targeting a different demographic.Competition can come from overseas.Competition can come from another firm in the same city.Competitors are all around you whether you choose to be aware of it or not.Recognizing and dealing with competition is necessary to your business success.

• Monitoring Competition

  • Companies must monitor competition in order to make intelligent marketing decisions based on how competitors operate.
  • The desire of companies to accurately gauge competitors has led to the growing popularity of a separate discipline—competitive intelligence.
  • A broad definition of competitive intelligence is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in making strategic decisions for an organization.
  • Competitive intelligence is an ethical and legal business practice, as opposed to industrial espionage which is illegal.
  • A more focused definition of competitive intelligence regards it as the organizational function responsible for the early identification of risks and opportunities in the market before they become obvious.

• Importance and goals of competitive intelligence

  • Detecting competitive threats is crucial to every business.
  • Competitive intelligence is the purposeful and coordinated monitoring of competitors, wherever and whoever they may be, within a specific marketplace.
  • Competitive intelligence allows the firm to make informed decisions about the outcomes of its actions in the marketplace.
  • The goal of competitive intelligence is to detect threats originating from competitors in all their forms.
  • While competitors are reacting, the firm can move to increase its competitive advantage over the competition.

• Definition

  • Competitive intelligence is the systematic collection and analysis of publicly available information about competitors.
  • The objective of a firm's competitive intelligence is to understand its competitors.
  • Learning about buyers and competitors is the role of competitive intelligence.
  • Understanding substitutes place in the market is the role of competitive intelligence.
  • This investigation is one of the roles of competitive intelligence.

• Success factors

  • One of the most important functions that companies can have to anticipate competitive threats and to recognize evolving market opportunities is to have a continuing competitive intelligence function within the company.
  • Management failures are frequently associated with the inability to anticipate rapid changes in the markets, respond to new and proliferating competition, or re-orient technologies and the strategic direction of their business toward changing customer needs and new industry standards.
  • Competitive intelligence is an important function in today's rapidly changing business environment.

• Marketing Orientation

  • Kohli in the "Journal of Marketing", marketing orientation is the, "The organization-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments and organization wide responsiveness to it. "
  • Using this customer intelligence, companies could produce products that supported their overall business strategy, competed effectively in an increasingly global and competitive market, and delivered solutions for current and future customer needs.
  • Marketing-oriented companies revolve around internal business processes that gather, synthesize, and package market intelligence into integrated marketing communications programs (i.e., advertising campaign, new product launch, promotional offer, etc.).
  • Competitive analysis is also a significant component of market orientation.

• Defining Intelligence

  • Over the last century or so, intelligence has been defined in many different ways.
  • The current American Psychological Association definition of intelligence involves a three-level hierarchy of intelligence factors, with g at its apex.
  • Cattell proposed two types of intelligence rather than a single general intelligence.
  • In 1983, Howard Gardner published a book on multiple intelligence that breaks intelligence down into at least eight different modalities: logical, linguistic, spatial, musical, kinesthetic, naturalist, interpersonal, and intrapersonal intelligences.
  • A few years later, Robert Sternberg proposed the Triarchic Theory of Intelligence, which proposes three fundamental types of cognitive ability: analytic intelligence, creative intelligence, and practical intelligence.

• Do What to Make Friends?

  • We are taught that competition is essential to the health and progress of the race… I maintain that cooperation is good, and competition is bad, that society does not flourish by the antagonism of its atoms, but by the mutual helpfulness of human beings. ~ Helen Keller
  • Its title was "The Fixity of Aggregate Intelligence and the Collective Clown Problem."
  • It's the general level of intelligence that matters.
  • The aggregate intelligence of any committee for a meeting cannot be higher than the aggregate intelligence that remained at the end of the last meeting of the committee.
  • The aggregate intelligence of a committee is greater than the sum aggregate intelligences of all the subcommittees it spawns.