What is a competitive intelligence?

Competitive news is a collective term that has to do with the collection of data that can be used to strengthen the position on the market or service market by comparing and contrast to the product with similar goods and services that are currently available. The type of competitive intelligence can have to do with products or could focus on some auxiliary factor. Other factors may include a distribution system or network, financial stability of a competitor, or any other factor that can be considered to compete with the strength, or the weakness that can be used.

The basic process of competitive intelligence is to collect facts. Companies will employ persons who will focus on the product or group of products offered by competitors and collect as much public knowledge as possible about product components. This effort is usually developed as a means to reveal the ways of the competitive product identical and how the product differs. Information of this type can help in creatingMarket campaigns, because it can actually prove how product A can do everything product B does, but without any side effect.

Along with the collection of intelligence on a competitive product, the competition can also look at the distribution network used to obtain a product on the consumer market. Although product B can be distributed through some retail stores, the product may not only be available in the same stores, but also several others. Knowing what markets and stores are currently offering both products, it can be very useful because it can shoot some consumers to try the product A, which is available in the local socket rather than go around the city to buy a product B.

Competitive intelligence is the ongoing process used by businesses of all sizes. In some cases, the use of competitive involvement isThe eating has to do with a short -term goal, such as the introduction of the product. In other cases, the data collected during the competition of intelligence information can form the basis for long -term competitive strategies.