What is Competitive Intelligence?
- Topics:
- Strategy Formulation
- Tags:
- Aurora Worldwide Development,
- Competitive Intelligence,
- Management,
- Marketing,
- Marketing Research,
- Strategy,
- Tools & Techniques
- Source:
- Aurora Worldwide Development
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Overview: This article discusses about Competitive Intelligence. The question it tries to address is how does competitive intelligence fit into the strategic planning process? How does competitive intelligence fit into the strategic planning process? In short, CI is the purposeful and coordinated monitoring of competitor(s), wherever and whoever they may be, within a specific marketplace. It also has to do with determining what business rivals will do before they do it. Competitive intelligence is usually composed of five major areas of endeavor, and is performed under three main approaches in the CI framework: assessment of strategies, competitor perceptions, and effectiveness of current operations, competitor capabilities and long-term market prospects. Thus, CI's real value is to provide managers with the organizational tool to learn what the competitor will do, not what the competitor has already done.
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Format: HTML | Date: Jan 2003 | Pages: 1
